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Blog

Famous Last Words – Getting Workforce Management Ready for the Coming Economic Shock

Aug 1, 2019 12:46:43 PM

“No one could have predicted…” This laughably obtuse statement is always uttered by those who should have known better, in the wake of catastrophes that could have been easily avoided if those same people had paid heed to the obvious warning signs leading up to the disaster. Today, the US likely stands at the precipice of a major economic downturn according to the people whose job it is to watch the cycles and patterns in economic activity and smart organizations are paying heed to these warnings by preparing talent strategies to weather the coming storm. Here’s the evidence offered in support of this dire prediction and some of the strategies being prepared to weather it.

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Topics: Blog, MSP/VMS, Workforce Management

Potential Cost Savings for Contingent Workforce Programs – What Every CFO Needs to Know

Jul 18, 2019 3:11:59 PM

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 services programs (MSP) for contingent workforce management, it is critical that a CFO consider both the hard and soft cost savings that are commonly captured through outsourcing a non-core business function to a provider with specialized expertise in the relevant processes. Here’s a basic explanation of how both the hard and soft savings are captured in significant measure by engaging an MSP for contingent workforce management.

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Topics: Blog, MSP/VMS, Cost savings

VMS? MSP? Which Solution is Best for Me? Part Three of a Three Part Series | Which Solution Should Be Deployed First?

Jun 13, 2019 12:21:22 PM

This is something of a “chicken or the egg” scenario – deciding whether an organization should embark first on a project to implement a vendor management system (VMS) tech platform or engage a managed services program (MSP) partner. In this third and final installment of the series, after having explored the benefits and challenges of both solutions, we’ll provide some insight on the proper order of operations. MSP first or VMS?

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

VMS? MSP? Which Solution is Best for Me? Part Two of a Three Part Series | Should I Deploy an MSP?

Jun 6, 2019 1:53:37 PM

In part I, we examined how to determine whether your company/organization is a good candidate for a VMS solution. This installment will take a similar look at whether your company is a good match for a managed services program for contingent workforce management. Here are a number of crucial questions to ask about your existing operations before deciding to deploy an MSP solution.

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

VMS? MSP? Which Solution is Best for Me? Part One of a Three Part Series | Is VMS Best?

May 30, 2019 2:04:53 PM

Back in March, we published a post on the Top Four Considerations for Successful VMS Implementations. In the wake of that article, we were peppered with questions from prospective customers regarding how they can be certain that a VMS-only solution (a solution that does not incorporate an MSP) is the right prescription for their organization to manage their contingent workforce. After all, it makes sense to be sure the VMS is the right action before you consider what’s required to ensure a successful implementation. So here is some valuable perspective on how to determine if your company/organization is a good candidate for VMS-only solutions.

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

The SINGULAR Most Important Activity for Driving Effective Supplier Partnerships

May 22, 2019 4:07:48 PM

With available talent scarce and staffing suppliers working harder than ever to source good workers in a low unemployment environment, the perennial question for workforce managers remains pertinent. How does one develop the best supplier partnerships to drive the greatest value and return? And how can an MSP help ensure your program is a priority for their staffing partners when those partners are being pulled in so many directions?

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

Why and How to Implement a Remote Talent Strategy

Apr 26, 2019 1:29:12 PM

Like most medium to large size organizations, you likely already have a contingent workforce strategy in place. For many, this strategy relies heavily on staff supplementation/temp labor to plug gaps and accommodate times of peak business volume. More robust practices may include other worker types in their contingent mix like onsite independent contractors, project workers and SOW teams. However, many services procurement pros seem to shy away from utilizing freelancers working 100% by remote. Avoiding this type of arrangement is becoming a growing liability as this classification of worker is growing and your competition may already be enjoying the competitive advantages of using them. Here’s what you need to know about remote talent use and utilization.

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Topics: Blog, MSP/VMS, Procurement Services, Workforce Management

Contingent Workforce 101 – Some Fundamentals

Apr 11, 2019 12:03:38 PM

Here at the nextSource blog, we often focus on providing simplified, easy-to-digest explanations of some of the latest, advanced processes and technologies being adopted by innovators in the human capital management industry. Today, though, we’re going to return to basics, because we know not all organizations are advanced in their workforce management know-how and understanding. As more and more small and mid-sized businesses begin to embrace the strategies used by larger enterprises, there is a lot of educating we can be doing to help newer entrants understand fundamental industry terms, processes and practices. This post will focus on simple definitions of worker classifications and the services offered by solution providers to manage each worker type.

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