Why Use a Staffing Agency for Your Business?

There are many reasons why a business like yours might elect to use a staffing agency in support of its contingent workforce management practice. Here are some of the most commonly referenced reasons why to use a staffing agency, offered by satisfied business owners. Everyone wants to save on costs. At the end of the…

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Be Aware of Big Changes to 1099-K Reporting Requirements

Even before the pandemic forced millions of workers into remote roles, the ranks of those working in the mushrooming gig economy had been swelling. With so many workers using online platforms to line up and execute freelance jobs, tax regulations have fallen behind. However, the IRS is making changes to update how they approach taxation…

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How to Use Modern Managed Services Like the Fortune 500

Innovation typically begins at the highest levels of industry, where deep-pocketed companies (with the budgets to support experimental projects) support early adoption of emerging tech and process. This was true of the rise of the Managed Services Program or MSP for workforce management in the 1990s. Once proven by the largest players, the MSP concept…

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Top Five Benefits of Direct Sourcing for Contingent Workforce

Sometimes referred to as “self-sourcing” in the staffing industry, direct sourcing is the process by which a company develops and leverages its own candidate pool to engage as contract workers instead of relying solely on staffing providers. The company typically then turns to Employer of Record, Agent of Record, or Managed Service Provider firms to…

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The Supplier Management Benefits of Diversity in Contract Labor

nextSource is proud to have recently earned Women’s Enterprise Business National Council (WEBNC) certification as a woman-owned company. There are proven benefits to engaging supplier management organizations to help source and manage contract labor. Let’s examine some of the most significant ways diversity in supplier management for contract labor delivers positive outcomes for organizations. Most…

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Why MSP/VMS Solution for Contingent Labor is a Necessity for More Organizations

Contingent labor as a spend category continues to grow and today represents a significant percentage of overall indirect spend for many organizations. According to Deloitte, some large enterprise organizations report spend focused on contingent workers equals the rest of their entire procurement spend! Many enterprise organizations have already determined that an MSP/VMS solution is critical…

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Avoid Getting Bitten in the Tail (Spend)

Tail spend is defined as the roughly 20% of a procurement department’s spend allocated to non-core transactions. Typically, this is spend on items not significant enough to be run through a procurement process, typically due to a high volume of small suppliers and limited in-house resources available to manage them. For most organizations engaging niche…

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Advantages and Disadvantages of Engaging Contingent Labor

Editors Note: The World Economic Forum recently published the Future of Jobs Survey.  From the companies who responded, 61% are likely to engage new, temporary staff with skills relevant to new technologies; 64% are likely to outsource some business functions to external contractors. With this in mind, nextSource is re-posting one our most popular blog articles (originally…

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