Cost savings
Five Reasons to Engage Recruitment Process Outsourcing Services
Sourcing talent to fill open positions more difficult than ever before in the wake of COVID-19. Making matters worse, the same short supply of workers plaguing many industries is also impacting many companies’ ability to fill roles within their own HR and contingent workforce management departments. This is why many organizations are taking the step…
Read MoreWhy 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…
Read MoreBe 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…
Read MoreHow 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…
Read MoreTop 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…
Read MoreA Preview of the New Normal in Workforce Management During and After Coronavirus
Despite everyone’s ardent wish that the pandemic will soon be over, the fact is, we’re still in the early innings of a brutal, long game. The new world that awaits us on the other side will look radically different than the one we remember before 2020. While there are bound to be many changes we…
Read MoreThe 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…
Read MoreWhy 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…
Read MoreAvoid 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…
Read MorePotential Cost Savings for Contingent Workforce Programs – What Every CFO Needs to Know
CFOs typically weigh the potential for cost savings heavily when deciding whether investment into new services and technologies makes sense for their organization. When it comes to deciding whether or not to invest in Managed Service Providers (MSP) for contingent workforce management, it is critical that a CFO consider both the hard and soft cost…
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