Study: 70% of Businesses Expect to Grow Their External Workforce; Strategic Management is Crucial
Ardent Partners Report Says 50-50 Split of Contingent/Permanent Workers is "Not Far Off"
Ardent Partners Report Says 50-50 Split of Contingent/Permanent Workers is "Not Far Off"
CHICAGO, Oct. 21, 2015 /PRNewswire/ -- "The 'future of work' is here," according to an Ardent Partners study underwritten in part by Fieldglass, Inc., an SAP company and the global cloud technology leader in services procurement and external workforce management.
Ardent Partners' annual "State of Contingent Workforce Management" study, released today, details the continuing evolution of the flexible workforce, explains how program needs and priorities have grown over time, presents the strategies that create best-in-class programs, and makes suggestions based on future trends and predictions. Fieldglass is offering a complimentary download of the report.
Highlights, compiled from a survey and interviews with organizations within North America, EMEA, Asia-Pacific and South America, include the following:
External workforces are critical yet growing without control
The report found that 95 percent of organizations consider their contingent workforce to be vital to overall business success and growth, and nearly 70 percent expect to increase it. That said, only 51 percent of all external labor and services spend is formally accounted for in corporate planning, budgeting and forecasting.
Vendor Management Systems remain the top third-party platform
"VMS solutions are the true 'nexus' of contingent workforce management, helping to enable key intelligence capabilities, supplier and spend management processes, and supporting innovation via self-sourcing competencies... and [Statement of Work] SOW management," the report states.
Companies with "Best-in-Class" programs exhibit four basic characteristics
They leverage data to achieve real-time visibility into their workforce; excel in core capabilities such as the standardization of day-to-day operations; use technology to adhere to strict compliance standards; and display a total talent vision, utilizing a holistic process to manage all workers.
"As business cycles tighten, competition stiffens and globalization pressures increase, organizations must leverage talent as a critical differentiating factor," said Rob Brimm, President, Fieldglass. "Companies that are leading the way today take a holistic view of work and the best way to get it done, regardless of whether that's through a full-time employee, contractor or a project team. Ardent Partners' report details solid strategies within this mindset and should serve as a strong predictor of future trends."
ABOUT FIELDGLASS
Fieldglass, an SAP company, provides the industry's leading technology for services procurement and external workforce management. More than 400 of the top global businesses leverage Fieldglass' intuitive, cloud-based services solution to gain visibility into its external labor, project-based services including Statements of Work (SOW), independent contractors and additional flexible talent pools.
The Fieldglass Vendor Management System (VMS) is used by organizations across all industries and geographies to achieve total workforce visibility and ultimately maximize cost savings, worker quality, compliance and program efficiencies. Procurement and HR professionals from companies including GlaxoSmithKline, Johnson & Johnson, Monsanto and Rio Tinto partner with Fieldglass to develop sophisticated talent and spend management strategies necessary to create best-in-class workforce programs. For more information, visit www.fieldglass.com.
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SOURCE Fieldglass, Inc.
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