5 Best Practices for Fielding an All-Star Contingent Workforce
Workforce managers are, by nature, a driven lot with a perpetual hunger for kicking butts and taking names in pursuit of success. In a highly competitive and quickly evolving field like human capital management, staying at the pinnacle of one’s game requires an intent focus on best practices and the continuous improvement needed to kick some serious tail. Here are five contemporary best practices from your friends, the contingent workforce experts at nextSource, to help you design, deploy and maintain a truly all-star contingent workforce.
1. Regularly Audit Existing Processes and Procedures
In order to improve contingent workforce management, it’s helpful to know how the program performs in numerous critical areas. Consider an audit of existing procedures, management divisions, requisition fulfillment, compliance, and risk management initiatives linked to existing contingent workforce management. Often, an audit will uncover fragmented procedures, redundant processes, and other areas where efficiency could be improved. Performing this type of audit periodically provides a helpful picture of the contingent labor program landscape and sets the stage for ongoing improvement.
2. Centralize Contingent Labor Decisions
Are there clear decision makers with regard to contingent workforce management? Are consistent approvals procedures in place to ensure compliance with stated business rules? Do hiring managers know this process and adhere to it? By centralizing decision-making for contingent workforce management, multiple departments aren’t required to accept responsibility for approvals which may be out of alignment with system goals or established guidelines. Having one central resource with decision authority saves time, avoids ad-hoc decision-making and offers guidance to individual departments that may struggle with contingent workforce management.
3. Partner with a Managed Service Provider
By partnering with an MSP, an organization can altogether outsource contingent workforce management from the experts. An MSP offers program guidance, strategic program growth strategies, market intelligence, and other benefits to reduce spend and enhance risk mitigation. Leverage experts in contingent workforce management and let their expertise make good programs great.
4. Integrate Strategic Analytics and Market Intelligence
Strategic analytics are incredibly important for improvements to contingent workforce management, because they provide measurements and reports to inform an organization on spend, resources utilized, and more. Taking this a step further, market intelligence offers nuanced views of strategic analytics data. This includes market rates for open positions, regional challenges, regulatory changes, and more. nextSource, offers custom market intelligence through their Strategy, Analytics and Metrics team. Working closely with their on-site program teams, organizations take great comfort in innovative approaches to contingent labor program management.
5. Prioritize Compliance
When contingent workforce management is fragmented, compliance is the area that suffers the most. By prioritizing compliance, an organization better manages risks associated with contingent labor programs. Outsourcing this function to a Managed Service Provider offers more stringent protection and guidance, transforming contingent workforce management.
Enact these five best practices and get ready for an all-star contingent workforce!