Optimizing Your Contingent Workforce Management Process could supercharge your business
In Asia and around the world, the percentage of the workforce that is contingent or non-employee is multiplying rapidly (1).
In order to effectively manage this emerging but ‘quite different’ sector of their workforce, businesses are implementing a range of contingency planning processes to source, on-board, schedule, track, manage and pay their contract workers. In most cases these contingency processes are linked, in some way, to the methodologies used for core or mainstream employees. For many, it works reasonably well; in a lot of instances though the processes used are disconnected, wasteful, bureaucratic, bungling and inefficient.
If you have a ‘Joe Average’ Contingent Workforce Management Process in place right now then perhaps it’s a good time to consider a Contingent Workforce Management Optimisation project. It’s just a short journey from bland to best-of-breed – one involving a re-integration of your people, some planning, data and technological automation. But it could also be a transformational journey that propels your business into a new era of efficiencies and agility, cost savings, streamlined contingency processes and communications.
What is Contingent Workforce Management Optimisation?
With the growing trend towards contingent labor, smart companies are working with specialist partners like CXC to develop a contingent workforce management planning process that optimizes key elements and eliminates or automates cumbersome, manual, transactional and time-consuming administrative tasks that waste everyone’s time.
In addition to core expertise in the contingent workforce space, the partner you choose must be able to deliver a state of the art technology solution (enterprise or third party) that:
- Offers full visibility of your entire contingent workforce population
- Provides online portals which reduce manual processes and processing errors
- Increases automation of your contingent workforce program
- Can evolve with market influences, so your technology is always leading-edge
- Is an auditable system that captures all worker contract and personal information
Use technology to take a deep dive into the inner workings of your business
In essence, contingent workforce optimization (CWFO) is a set of strategies and technologies that help you automate essential processes, maintain data visibility, comply with legal ordinances, and solve many business problems associated with your contingent workforce
The benefits of this type of “deep dive” into the numbers underpinning your business are numerous and can supercharge your operations. Just some of the benefits:
Reduced Risk of Non-Compliance
CWMO technology stores up-to-date qualification documentation and increases transparency into all independent workers, minimizing the risks and costs associated with non-compliance.
Easy access to Talent
Organizations today need a way to easily access high-value talent. Up to date CWMO technology enables a transaction between the client and independent professional directly online, eliminating the need for a third-party staffing agency or consulting firm.
Decreased Labour Costs
Labour is one of the largest expenses your business has to deal with. By optimizing your workforce, you can gain more control over both the way your employees work and the associated costs.
Improved Service Levels
When you are able to tailor your workforce to the demands of your client base, your customer service will improve as well.
Improved Employee Productivity and Efficiency
Keeping your team’s productivity and efficiency high is a challenge for even the most successful businesses.
Workforce optimization simplifies that task easier with analytics and insights into the way your business and your employees operate on a daily, weekly, monthly, and yearly basis.
Streamline the Talent Lifecycle
Today’s CWMO technology combines tools, services, data, and processes to create a seamless end-to-end experience for independent talent and managers alike. Digital platforms bring together contingent talent to facilitate project-based work, allowing companies to efficiently deploy talent when and where they need it most.
Managers can also use this technology to facilitate onboarding and engagement processes. Once engaged, they can easily manage contractor time and expenses, process invoices, resolve issues, and track performance.
Enhance Talent Well-being
The competition to attract, engage, and retain in-demand talent is becoming more of a challenge for businesses all over the world. Organizations must meet the needs of this pool of talent in order to be an attractive place to work.
Top satisfaction factors include a clear onboarding process and project scope, quick and fair compensation, and reasonable processes and procedures. Prioritizing these needs helps companies stand out from their competition and make them a more desirable choice for top independent talent. Again, technology plays a big role here creating a simple, clear, and streamlined work experience for independent contractors.
Investing in a contingent workforce management optimisation can quickly improve your operations, increase productivity and operational efficiency, mitigate risk, save time and reduce costs.
As one of the world’s leading providers of contingent worker management solutions, CXC is well positioned to optimise all elements of your contingent workforce strategy. With operations in more than 50 countries across five continents and decades of experience, we can assist with every aspect of your program, from talent to technology.
If you would like to find out more about how we can help please contact us here.