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HCMWorks Insights

Our Most Popular Contingent Workforce Insights in 2019

Posted by Julia Fournier on 31 Dec 2019

The contingent workforce is always changing. Whether it’s the growing pool of workers, new methods of sourcing talent, changing workforce laws or optimizing your contingent workforce management program, there is always something new to learn and implement.

Making sure your organization stays on top of these changes is a crucial element of ensuring your contingent workforce is consistently optimized so that it can maximize results for your business.

With that in mind, and 2020 just around the corner, there’s no better time to take a look at the contingent workforce trends over the past year. To give you an insight into some of this year’s most talked-about subjects, HCMWorks has listed our five most popular blogs from 2019.

1 - What is the Difference Between Bill Rate, Markup and Pay Rate?

Working with staffing agencies can help your company acquire top talent, reduce time spent on sourcing workers and lower hiring costs. However, many organizations do not correctly understand the costs associated with staffing agencies.

In this blog, we explain the three different charges that staffing agencies use for their services - bill rate, pay rate and markup. By understanding these three charges, your organization will gain complete visibility into what it is paying its staffing agencies. This will result in better cost controls and more informed hiring decisions.

2 - The Contingent Workforce: 6 Benefits Associated With Hiring Non-Permanent Workers

Not making use of the ever-growing contingent workforce? Then you should read this blog from HCMWorlks on how your organization will benefit from implementing an innovative contingent workforce program.

A successful contingent workforce management program can help your company realize benefits such as:

  • The ability to fill a skills gap in an increasingly competitive market.
  • Trial temporary workers in a bid to hire them as full-time employees if they are successful in their role.
  • The ability to assess business needs on an ongoing basis, and make rapid changes where necessary.
  • The opportunity to access fresh perspectives from outside of your organization.
  • Implement faster and more cost-effective hiring processes.
  • Increased flexibility and scalability depending on your company’s current workforce needs.

3 - 4 Best Practices to Help Your Company run a Global Contingent Workforce Management Process

Managing a contingent workforce program is complex. In fact, most company’s contingent workforce programs are split between departments, making them fragmented, inconsistent and expensive.

By partnering with a managed services provider (MSP), your company will be able to implement a unified contingent workforce management program that centralizes every aspect of hiring non-permanent workers. This will save you money, and give you greater visibility and control over your contingent workers.

4 - 5-Step Guide to a Successful Procurement Strategy

If your contingent workforce program falls to your procurement team, then it’s highly important that you create a successful procurement strategy that’s aligned with your organization’s overall business goals.

We have created a five-step guide to creating this strategy, which includes:

  1. Conducting an internal analysis
  2. Creating measurable objectives
  3. Developing a plan to meet those objectives
  4. Implementing the right technology to make your strategy work
  5. Communicating your plan to your company’s stakeholders

5 - What is Total Talent Management (TTM)?

The future of work is changing rapidly. Your company must now implement new talent acquisition strategies if you are to hire the top workers in your industry and stay competitive. Total talent management (TTM) can help you achieve this goal.

TTM is the process of utilizing the full range of talent sources open to your company, from traditional full-time employees to contingent workers. This will help you develop an agile workforce and give you access to the top talent when and where you need it.

Do you want to learn more contingent workforce trends, or simply find out how HCMWorks can help you implement an innovative talent management program into your organization? Contact our team of experts today. We would love to answer any questions you have.

Exploring Your Contingent Workforce Ecosystem

Tags: Contingent Workforce

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