Contingent Labor Increasing in Importance
What used to be seen as a band-aid has risen to a major, strategic portion of corporate spend. And it must be optimized accordingly.
The use of temp or contingent workers is on the rise and justifiably so. I am no longer employed by a company where it would behoove me to state this. I am just recognizing the needs of businesses, the desire to not be shackled to an employment relationship, and the impact of AI on the skills landscape.
Given this shift, large multi-national companies that would previously not sniff the space due to its perceived volatility, are now having a second look and jumping into the industry head-first. The increase in attention is leading to an increase in capital investment both in establishing operations and figuring out optimization. Optimization of this contingent workforce is entirely different from the FTE workforce. Because it is so dynamic and lends to a just-in-time approach, keeping informed on the shifting sands on a regular basis is critical to ensure optimization. This includes headcounts within departments, supplier capabilities for emerging skillsets, and rate monitoring given market dynamics.
Companies that I have spoken with are finding it difficult to keep up with these shifting dynamics with the tools they currently have at their disposal. This necessitates reaching for a new tool that was previously out of reach.
And this is why Rad Consultants exists. VMOs need to ensure their global base of hiring managers are finding the talent they need. MSPs need to serve their clients the quality they are looking for. Staffing suppliers need to monitor their performance across clients and VMS’s / ATS’s. But this is only achievable with a scalable yet customizable solution that monitors all aspects of the contingent labor program – one that I did not think was feasible until seeing it in action.
If this speaks to your situation at all, message me to learn more about it. After more than 10 years in the contingent workforce analytics space, I know that this is an area worth investigating.