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Retaining Contingent Talent in an Employee’s Market: Part 2 of 3

Jun 19, 2018 3:07:01 PM

The Work Institute’s annual report on workforce retention was compiled from more than 234,000 exit interviews. It is the only report of its kind revealing the real reasons employees leave or intend to leave their jobs. The 40-page document is full of exceptional insights backed up by hard data. Although developed with full-time workers in mind, much of it is applicable to contingent workforces as well. In Part 1 of this series, we examined half of the top reasons why employees leave their jobs and how to develop retention strategies to prevent turnover. Part 2 will focus on the remaining reasons workers leave a job and how to keep them from leaving.

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Topics: Blog, Workforce Management

Retaining Contingent Talent in an Employee’s Market: A Three-Part Series

Jun 14, 2018 2:22:15 PM

With unemployment testing historic lows, every workforce manager is acutely aware that it is an employee’s job market. The ratio of unemployed persons to available jobs which was 7:1 in 2009 is back to parity at 1:1 today. So, it is more important than ever to focus on employee retention. Doing this requires in-depth understanding of the drivers of turnover. This three-part blog series will begin with Parts I and II, detailing the Top 10 categories of reasons why employees leave. Part III will discuss the financial impact of turnover and offer suggestions on how to develop effective retention strategies.

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Topics: Blog, Procurement Services, Workforce Management

Weird Graduation Season Calls for Professional Workforce Management Help

Jun 1, 2018 10:45:56 AM

The late Hunter S. Thompson once said, “When the going gets weird, the weird turn pro.” And we really can’t remember a “graduation season” weirder than this year’s. The reports coming out about market conditions, unemployment, hiring, and pay are as offbeat as Thompson himself, but nextSource is ready to help you turn pro in these weird times with insight into how to attract top graduates. Here are some contrary facts and how you can use this information to your advantage this graduation season.

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Topics: Blog, MSP/VMS, Workforce Management, seasonal staffing

Why the MSP for External Workforce Management Has Become a Standard Business Practice

May 23, 2018 3:09:29 PM

A full 65% of executives responding to a survey by SAP Fieldglass say that the external workforce is essential to their organizations’ ability to operate at full capacity. Nearly half of respondents reported they’d be unable to conduct business as usual without it! If nothing else, these results underscore the extent to which the contingent workforce has become standard operating procedure for all modern businesses.

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Topics: Blog, MSP/VMS, Compliance Services, EOR Services, Workforce Management

Balancing Fixed and Variable Labor Costs in Workforce Management

Apr 11, 2018 10:36:05 AM

The use of contingent labor—whether temp staffing, SOW/project workers or straight independent contractorsis largely driven by the need to reduce operating costs in ever increasingly competitive markets. The challenge is in achieving the proper workforce composition and balance between full time and contingent resources. Too many of the former and labor costs can drag on profitability. Too many of the latter and overall operational efficacy can suffer. Let’s examine how organizations can achieve the proper balance.

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Topics: Blog, Statement of Work, MSP/VMS, Workforce Management

When it Comes to Total Talent Management, There’s Something About Healthcare

Apr 5, 2018 10:38:14 AM

Often described as the “holy grail” of workforce management, total talent management is defined as the integration and engagement of the full range of talent sources into a single, comprehensive workforce management regime. The talent sources involved typically include non-employee workers like temps, independent contractors, consultants, freelancers, volunteers, outsourced resources and even non-human resources like robots, drones, and artificial intelligence. The ability to plan, administer and manage all these worker types harmoniously and efficiently in pursuit of business goals is total workforce management and the healthcare industry has it down cold! What factors contribute to healthcare’s ability to realize this goal and how can other industries emulate this success?

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Topics: Blog, MSP/VMS, Healthcare, Workforce Management

Avoiding the Eight Errors of Change Management

Mar 29, 2018 11:23:10 AM

Instituting a new program for workforce management—whether it be an MSP, a new VMS software solution or any other significant change to the way contingent labor is source, managed and administered—requires significant change. Changes to established practices are always going to cause friction and encounter resistance. And it isn’t just changing broken, inefficient processes. Sometimes, entirely new strategies call for change to practices that have been used to positive effect, but that need to be modified if the new solution is to yield the desired effect. Strong change management is critical to the success of any new policy or business process. Here is some wisdom on this subject culled from a leading authority on change management to help organizations avoid failure as they seek to improve workforce management.

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Topics: Blog, MSP/VMS, Best Practices, Workforce Management

Digest of the SIA’s Staffing Trends in 2018 Report - Part II

Mar 21, 2018 11:19:13 AM

In Part II of this two-part series, we’ll review the remaining four key staffing trends identified by the Staffing Industry Analysts (SIA). Their detailed report lists the following eight factors as key trends impacting the industry now and for the duration of this year: The Global Economy, Technology/Automation, Skills Shortages, Legislation, Gig Economy, Public Perception, Procurement Sophistication and the Rise of Asia. We pick up in Part II with review of the critical takeaway from each of the remaining four trends boiled down to their essence.

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Topics: Blog, MSP/VMS, Workforce Management, Technology