Finding the right resources to fill the growing talent gaps in your changing workforce is becoming an increasing difficult challenge. Leveraging the contingent workforce provides access to a vital source of quality talent, but it also comes with a number of operational, financial and legal challenges and risks that must be carefully managed.
The complete contingent workforce lifecycle impacts many stakeholders within one organization, both internally and externally. It has strong implications for Finance, IT, Talent Acquisition, HR, Procurement, Risk and general lines of Business. Furthermore, vendor management technology is necessary to enable your organization to manage this workforce effectively. Organizations quickly realize how helpful an expert advisor like HCMWorks can be in successfully supporting them through this transformation.
A contingent workforce MSP program is an outsourced solution managed by an external firm such as HCMWorks, that combines process, practice and technology. It allows you to centralize and consolidate all your non-permanent worker spend under one program, so you can optimize the entire workforce, for increased visibility and control.
The HCMWorks MSP program enables you to easily streamline, simplify and manage the contingent workforce supply chain from requisition to payment and every process in between. The outcome is increased visibility on contingent headcount and spend, reduced costs, greater and timelier access to talent, as well as greater compliance with federal, provincial and state regulations.
HCMWorks has developed a custom HCMNow solution that can easily be implemented and used by some types of clients. With minimal implementation and post-implementation costs, HCMNow is a tool that centralizes, tracks and manages all of your non-permanent resources in one accessible location for ease of analysis and forecasting.
This service was designed to be comparable to a full contingent labor Managed Services Provider (MSP) program but only on an on-demand basis.
A plug-and-play MSP solution could make the lives of CHROs, VPs of HR, Directors of Talent Acquisition, and Procurement Leaders a whole lot easier. This white paper delves into the many benefits of having a turnkey MSP program that involves no cost to you and no major input from your IT teams.
In this white paper, we take a look at:
Many HR and procurement professionals associate human capital spend with their permanent and contingent workforce. Contingent workers are far too frequently contracted and placed on a project where they are expected to self-manage, out of sight and out of mind. While many regrettably forget to manage and account for contract workers and deliverables, automating the contract can help create consistent processes. In other words, Statement of Work automation may be the solution to documenting and managing workers while ensuring visibility and compliance.> Read More
Individuals rarely read all the fine print of a contract prior to signing. Just as a smartphone user clicks “agree to terms and conditions” without reading the document, some contract workers agree to a Statement of Work (SOW) without fully understanding what they are agreeing to. This could be considered as a matter of neglecting contractor compliance, which can lead to severe legal and reputational repercussions.> Read More
The global market size of outsourced services is expanding. In 2019, global services were valued at 92.5 billion U.S. dollars, a figure which continues to increase steadily. Why is business process outsourcing growing? Because it is a cost-effective solution to filling skill gaps which provides flexibility and enables global expansion.> Read More