Organizations Embrace Talent Data Exchange Program for Measurement and Analysis of Contingent Workforce Strategies
Apr 28, 2015, 08:00 ET
MOUNTAIN VIEW, Calif., April 28, 2015 /PRNewswire/ -- Over 35 companies have signed on with Talent Data Exchange (TDX), a membership-based data service that enables companies to precisely and anonymously compute the cost of non-employee labor, review statistical analysis and test the validity of workforce strategies. TDX is a collaboration between Brightfield Strategies, a leading human capital strategies consultancy, and Staffing Industry Analysts, the global advisor on contingent work.
The Talent Data Exchange became operational in January of 2015, and Fortune 500 companies representing a cross-section of industries ranging from pharmaceuticals and software to banking, technology and financial services have embraced the initial launch of the program.
Companies have turned to TDX for big data analytics on contingent labor to provide true market data. The multi-layered program breaks down work assignment needs into granular pieces of data to precisely define job functions, including very precise job titles and the attributes that impact the cost and availability of qualified candidates. With this comprehensive set of data aggregation and analysis tools, companies will be able to manage their contingent workforce with a higher level of accuracy and deliver improved quality at a lower cost.
"Talent Data Exchange provides companies with current data to determine the right price for a particular job resulting in improvements in operational costs and efficiencies," said Jason Ezratty, Brightfield Strategies president. "Companies will be better equipped to handle all of their talent requirements by making fact-based decisions that will have a major impact on their job requirements today along with a method for planning for future needs."
"We are encouraged by the initial response to the TDX program, said Barry Asin, president of Staffing Industry Analysts. "Our Contingent Workforce Strategies Council (CWS Council) members, other sophisticated buyers of contingent labor and industry suppliers all stand to benefit from this offering. These companies will be able to use the Talent Data Exchange to increase profitability through a deeper understanding of market conditions and more accurate benchmarking of their contingent workforce program strategies. We see TDX providing market players with actionable information as opposed to rules of thumb."
Staffing Industry Analysts estimates the total global contingent workforce market at over $3 trillion and Brightfield seeks to aggregate much of the more than $100 billion in annual contingent workforce spend globally transacted in Vendor Management Systems.
About Staffing Industry Analysts
Staffing Industry Analysts is the global advisor on contingent work. Known for its independent and objective insights, the company's proprietary research, award-winning content, data, support tools, publications and executive conferences provide a competitive edge to decision-makers who supply and buy temporary staffing. In addition to temporary staffing, Staffing Industry Analysts also covers related staffing sectors. The company provides accreditation with its Certified Contingent Workforce Professional (CCWP) program. Founded in 1989, acquired by Crain Communications Inc. in 2008, the company is headquartered in Mountain View, California, with offices in London, England. For more information: www.staffingindustry.com.
About Brightfield Strategies
Since 2006, Brightfield has specialized in contingent workforce issues and their relation to human capital strategies. From temporary agency workers to independent consultants and everything in between, our Fortune 100 clients rely on Brightfield to craft strategies that make them more competitive.
SOURCE Staffing Industry Analysts