What is happening today?
- Everything from changing social norms, workforce needs and the way companies are doing business are affecting the nature of employment.
- More work is project based and relies heavily on technical skill sets. Businesses and workers need to know how to adapt to a rapidly changing environment.
Why it’s important
- Staying competitive is important and keeping up with the changing workforce
- Workers need to know how to prepare for a more flexible, project-based working environment to sustain their careers.
What should you do about it?
- Utilize the contingent workforce
- Businesses can benefit from employing contingent workforce
Implementing a contingent workforce over the past decade has become the norm, and more so today as rising labor costs and adapting to the rapidly changing structural shift that has occurred in the marketplace.
The year over year growth in the size and cost of the contingent workforce has caused a few rippling effects. First, it’s causing a shortage of workers to fill critical skill sets. Second, it is understanding what skills and services contingent workers need and helping managers make applicable/accurate based decisions on whether to fill a role or skill with a contingent worker or full-time employee. The third rippling effect is the complex change that is constant, and competition is coming from everywhere. The pace at which companies conduct business is speeding up and that includes technology to support those changes. Since most of the required needs are project-based, it’s costly and ineffective to retain the required skill set in-house. Most companies are turning to the contingent workforce.
Today, one-third of the US workforce is made up of Baby Boomers, and they are starting to retire, causing a gap in critical skills. To fill this gap, companies are turning to the contingent workforce for a few reasons; Responsiveness, Flexibility, and most of all the Operational cost of the enterprise. The estimated spend by procurement is 30 percent of contingent workers. Business leaders have had to respond to the structural shift in the marketplace. The Structural change has left business leaders responding to innovative ideas and business strategies to account for diminished margins.
The barrier most companies face is comprehending what skill sets and services contingent workers supply and providing administrators with the tools to fill a role or skill need with a contingent work or a full-time employee. Even though the contingent workforce segment is expanding insignificance and its size, many businesses may not be skilled at balancing it. Significant concerns include the lack of an integrated workforce management approach, management behavior, weak data management, and substandard technology. Such imperfections can expose companies to immense business, financial, and public relations threats. Furthermore, the lack of an integrated solution across these parts can inhibit an organization’s capability to make choices about what type of talent to deploy where.
As more organizations see the issues pertinent to contractors and administration, they can benefit from enhanced overall performance, lower labor costs, informed staffing decisions, more organizational flexibility, and stronger HR alignment with business goals and objectives. A focus in this area will provide the potential to find and acquire contingent workforce expertise that is high-quality, and aligned to the specific business needs. Providing the organization, the capacity to source and secure contingent workforce talent that is high-quality, aligned to the specific business needs, and available “on-demand” to meet prompt talent needs. Administrators can make practical talent choices at the time of need, and the procedures and systems are in place to maintain and mitigate the risk of the contingent worker and help administration across the worker lifecycle.
The crucial struggle many organizations encounter as they navigate the contingent workforce landscape is finding the ideal balance. Business Intelli has been providing guidance and contingent workforce solutions since 2006 helping the organization manage and limit the risk, by maintaining flexibility and proactively responding to your business needs. Business Intelli has found that most organizations face demanding situations surrounding the following areas:
Contingent worker technology.
There is no shortage in the marketplace for tracking and administering contingent workers. But having the right technology is a critical foundational element. Having a proper balance of analytics and decision support capability, tracking and administration in one integrated system is the key. Our system carefully aligns to explicitly defined talent needs through a vetted, approved, and defined accountability for supporting your organization’s risk and cost management practices.
Ownership and accountability.
Businesses are also choosing the need to assign responsibility for the contingent workforce. Formerly, control for components of the overall contingent workforce lifecycle fell under numerous hands. The crucial choice is whether one responsibility can or should own the overall process. Realistically, it may be better for one organization to be accountable, with precisely outlined responsibilities for parts of the lifecycle. An efficient model depends heavily on HR to drive the change. However, this requires careful integration and ownership with finance, procurement, risk, legal, and the business. Managers need to be encouraged and held accountable for the workforce decisions they make and practices they employ. Finance needs to take ownership of cost and budget controls. Procurement has o have ownership of vendor strategy, pricing, contracting, and supplier selection components. Risk and Legal should handle process and practice. Business Intelli helps HR carefully integrate contingent worker processes, policies, and guidelines into the existing HR service delivery model and systems where appropriate.
Part of our service is to help businesses develop a holistic strategy for the contingent workforce and show you how the administration should be operationalized to deliver results to the firm. Business Intelli has been helping organizations define that strategy and integrate it into the current policies and procedures.
RAS – Resource Augmentation Services
- You maintain complete control of the resources
- Cost effective over mainstream consultancies
- Our On-Demand Planning allows you to ramp up or down
- Control your costs and operate more efficiently
- Pre-vetted and long-standing Associates reducing time to hire
Our RAS or Resource Augmentation Service takes a holistic approach to your resource requirements. Business Intelli works closely with you to find the best candidates. Our pre-screen network leaves you free to focus on your business. As part of our approach, we act as the MSP taking on the recruiting and training processes, oversee the onboarding, and provide you with the best possible talent quickly and efficiently.
RMS – Resource Managed Solution
- Cost effective
- Fixed price
- Full end to end Service Management
RMS gives you a rapid outcome-based managed remedy. As with RAS, we have worked with all of our Consultants in the past, and you enjoy the same service wrap giving you peace of mind. Working with you on a fixed price and timescale, Business Intelli provides full end-to-end service management and a monthly program service review to make sure we’re executing as you expect.
Recruitment Process Outsourcing (RPO)
- Reduced costs
- Scalable staffing solution
- Increased candidate quality
- Enhanced employment brand
Providing RPO is the perfect solution for sourcing your contract and temporary staffing needs. Our team uses our extensive resources and industry expertise to find the perfect candidates so you can concentrate on your core business activities.
The pressure to find the right talent quickly can be a real drain on your resources. Our RPO service will provide you with a fast, reliable solution, delivering the workforce you need when you need it.
Working on-site, our experienced accounts team will become part of your business giving you the benefit of a resolute expert team while maintaining full visibility of your recruitment.
The team will listen to your needs and deliver outstanding results to help you achieve a level of talent and business agility that goes beyond your expectations.
Business Intelli quickly responds to your needs; our knowledgeable team has the capabilities, resources, and industry awareness to place the qualified specialists you need for the successful completion of your projects and programs.
Our vertical expertise includes:
- IT & Infrastructure
- Program and Project Management Business Analysis
- Business & Change Management
- Information Security
- Business Intelligence
- Application Development
- HR & Procurement
- Executive Appointments
- Finance & Operations
Building relationships, delivering on our promises and adding value are just a few of the Key Performance Indicators (KPIs) we use to make sure we continue to offer you the outstanding service your business demands.
Bench-marked against our directional indicators, they help identify how well we’re performing compared to our expectations and business plans
“Our Account Management SLAs ensure we provide: accountability, responsibility and actions around the solution and service we provide and report against”.
- Effective financial reporting
- Efficient scheduling of work
- Status and satisfaction of existing customers
- Stakeholder expectation management
- Project completion rates and success
- On-site performance reviews
- Client feedback
- Client requirement for additional resources through Our RMS
- Management responsibility
We deploy Professionals with significant experience that can effectively translate business needs into successful technology applications and solutions. Our commitment sets us apart and keeps our clients coming back. With our fresh ideas and talent, we structure our efforts not only to anticipate and meet your requirements, but also to exceed your expectations.