Extended workforce system enables total talent management for Workday customers.
Ardent Partners has championed the effectiveness of total workforce management for years and validated its impact: “The very simple argument for building or developing a total workforce management program can be stripped down to a primary advantage: the contemporary talent supply chain is diverse, multifaceted, and spread across numerous sources (both legacy and fresh), and the businesses that can effectively find, engage, source, and ultimately manage this talent under a centralized program will be awarded the visibility to execute far superior business decisions in a real-time manner.
Business agility, which Ardent Partners defines as the ability for businesses to respond dynamically to real-time pressures and challenges, in its rawest form has dominated business discourse for several years.
According to Ardent Partners research, nearly 43% of the average organization’s total workforce is considered “contingent” or “non-employee,” over doubling in size over the past ten years.
About 40% of organizations fail to adequately onboard and integrate newly hired independent workers, according to research by industry analyst, Josh Bersin. And it’s not like businesses don’t have processes for their onboarding that they can borrow from employee onboarding. Tools such as organizational charts, company mission statements, and other handbooks are usually available, but speed is prioritized over worker satisfaction.
Workers will soon be returning to the office in many geographies, but it won’t quite be the same as before. Without a vaccine, employers need to take new health and safety measures that protect the well-being of all their workers, both employees and external workers.
Everyone and their mother has done a webinar on how to respond to COVID-19. Some of the suggested strategies for organizations with extended workforces are great, a few of the strategies are obvious, and many of the strategies are short-sighted.
Statement of Work (SOW) management is considered the next frontier for contingent workforce (CW) programs. Third-party consulting firms or professional services can be a large source of external workers for a business, but many companies have not integrated them into their traditional CW program management yet.
As the economy continues to make unprecedented shifts, many businesses will need to critically evaluate how they source talent to balance the cost of hiring full-time employees vs. the flexibility of using an extended workforce (i.e., contingent workforce, alternative workforce). Unfortunately, organizations do not have good visibility into different talent types’ data that is sitting inside and outside of various systems.
Christopher Dwyer, Vice President of Research at Ardent Partners, invited Erika Novak, Head of Client Services at Utmost, to his podcast, “Contingent Workforce Weekly” to discuss the evolving world of work, the viability of total workforce management, and how the Utmost platform promotes total talent visibility.