The business world is changing. Seemingly by the day, new technologies and strategies are redefining how work is done by pushing today’s enterprises into exciting territory as they seek competitive advantages and fresh sources of business. Within this scenario, the very notion of “talent” is actively shaping how far enterprises can go in terms of innovation, growth, and ultimate business expansion. Talent is today’s most valuable commodity, and as globalization takes its hold on businesses across the world, the dynamics around talent are being revolutionized.
To get a better understanding of this talent and how it is accessed, managed, and optimized in today’s business world, Field Nation contributed to the underwriting of a report conducted by Ardent Partners on “The State of Contingent Workforce Management 2015-2015: The Future of Work is Here.” This report covers the evolution, assessment, performance, and recommended strategies for contingent workforce management leaders so they can improve overall customer workforce management operations and results.
Last week, we looked at an overview of the “staffing” component of the contingent workforce management framework.
The Evolution of CWM Programs (cont.)
Diving into the Framework: What Does It Mean?
Ardent’s landmark Contingent Workforce Management Framework was designed with one goal in mind: assist organizations in not only understanding the current composition of contingent labor, but also the means for developing or enhancing the necessary capabilities, competencies, and strategies for managing the core archetypes of today’s non-employee workforce. What follows is a breakdown of each CWM Framework category, its current market maturity level, and the recommended functional responsibility for primary management.
CWM Framework Category Overview: Complex
Although many enterprises strive for contingent workforce management programs that are tailored towards the talent engagement and management attributes of today’s non-employee workforce, in order to move forward, these businesses must first understand the implications and wide scope of complex contingent labor, which includes SOW-based projects and services. The realm of SOW management has become an intense component of the contingent workforce industry, as more and more organizations realize that the work linked to this category of the CWM Framework is crucial to the ultimate success of the greater enterprise.
- Average Maturity Level: Defined, but Not Actively Managed. Most enterprises aren’t completely in the dark regarding their utilization and management of complex contingent labor, however, due to the vast intricacies inherent in this Framework category, many businesses struggle to maintain a semblance of visibility and control over SOW-based projects, labor, and services. As such, the average organization can define the parameters of what this category entails, but generally fails to act on the core spend, supplier, and workforce management attributes that are required for proper management.
- Recommended Functional Responsibility: Procurement, with HR’s Support. The core of complex contingent workforce management lies within the very projects that SOW-based labor and services support. Capabilities such as supplier onboarding and offboarding are crucial to maintaining identity management, while supplier evaluations, ongoing performance management, measurement of delivery dates and milestone achievement, and project budget and expense management all play vital roles in managing SOW-based projects with a cost-controlled eye. HR’s support here is critical; human capital capabilities, such as talent forecasting and workforce management, can help businesses gain enhanced control over complex contingent labor.
Coming Up: We look at an overview of the “independent and freelance” component of the contingent workforce management framework.
To read the full report, download it now.