If your organization is utilizing a contingent workforce, it's exposed to a well-known set of internal and external mechanisms.
Whether you realize it or not, these mechanisms impact your company in a significant way.
When you combine all these factors together, they represent your contingent workforce ecosystem.
HCMWorks facilitates half-day 'whiteboard sessions' to provide potential clients and future partners a glimpse into their contingent workforce ecosystem and how it's performing.
Our role in this process is to help companies identify, understand and manage their contingent workforce ecosystem in such a way that they can take advantage of their contingent workforce as a strategic asset.
Independent contractors, freelancers, and contract workers are a valuable source of high-quality talent but managing dozens, if not hundreds of IC contracts, invoices and more, is a full-time job for several of your people.
Learn how to simplify, streamline and reduce the complexity of managing your freelancers, consultants and contract workers.
The future of work is changing. The contingent workforce - which is made up of freelancers, consultants, independent contractors and part-time workers - now makes up a huge percentage of the world’s workforce.
In fact, a report from Intuit predicts the number of contingent workers will only continue to increase worldwide. The study notes that today around 25-30 per cent of the US workforce is currently contingent, with that number expected to exceed 40 per cent by 2020.
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Competition for labour in today’s business market is constantly growing. This is largely driven by a shortage in skilled workers, which is affecting almost every industry across both the US and Canada.
In fact, the Society for Human Resource Management claims that around 83 per cent of organizations are currently struggling to find workers with the right skills. Meanwhile, a report by American Action Forum (AAF) found that, by 2029, employers in nearly every US state will face significant shortages of qualified workers due to an ageing population.
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Large businesses in today’s market work with a wide range of vendors. In fact, most companies are more dependent on vendor relationships for the success of their business than ever before, whether it be for talent acquisition, procuring office supplies, service providers or accessing equipment manufacturers.
That’s because vendors have specific expertise in a particular area of your business, making them a far more effective and cost-efficient way of accessing specialized knowledge without having to pay for an expensive in-house team.
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