According to the U.S. Government and Accountability Office, approximately 40% of America's workforce now qualifies as contingent workers. This change in the way people prefer to work is evidenced by the change in Talent Acquisition tactics across organizations. With a persistent War for Talent, many organizations across industries have increased their use of contingent labor in order to remain competitive. Yet as employers' contingent labor programs grow in size and scope, engagement of contingent labor can become more complex. Do you know what's undermining your engagement of contingent labor?
When organizations use contingent labor, their success is largely determined by their ability to engage qualified candidates. Is your contingent labor program challenged by these engagement road blocks? Do you know the solution to these challenges?
Solution: Partner with a vendor neutral managed service provider. Lack of access can be remedied by using a vendor neutral managed service provider to manage supplier relationships, the engagement process, and program efficiency. These experts in contingent workforce management maintain relationships with a variety of suppliers, increasing the talent pools from which employers are able to select qualified candidates. Additional benefits such as increased diversity and alignment with cost reduction or risk mitigation strategies can also be gained by partnering with these experts.
Solution: Use VMS technology to streamline engagement processes. Using VMS technology can make the engagement of contingent labor more efficient, enhancing transparency and communication with suppliers. Using this technology, hiring managers are able to log in to submit a requisition that all of their suppliers see. These suppliers then submit candidates for consideration, evaluation and engagement. This makes the engagement process easy and transparent to everyone involved,enhancing employers' ability to engage contingent labor. Within the VMS technology, applying approvals and cost centers is similarly easy, making the process easier for hiring managers and enhancing Procurement's ability to maintain visibility across the supply chain.
Solution: Use market rate intelligence to engage contingent labor at reduced costs. When employers use strategic analytics such as market rate intelligence, they can significantly reduce contingent labor program costs. By partnering with a vendor neutral managed service provider, employers are able to select qualified candidates at better rates. This information can be used to negotiate better with suppliers and can further enhance statement of work (SOW) programs as well.
There are a variety of intelligent workforce solutions that employers may use to improve their engagement of contingent labor. By implementing these suggestions, employers are better able to secure the contingent labor they need to achieve program goals.