Tail spend is defined as the roughly 20% of a procurement department's spend allocated to non-core transactions. Typically, this is spend on items not significant enough to be run through a procurement process, typically due to a high volume of small suppliers and limited in-house resources available to manage them. For most organizations engaging niche suppliers to accommodate specialized contingent staffing needs, this type of niche spend often falls into the “tail spend” category. While spend in this bucket may be small overall, the risks associated with workforce procurement may represent outsized risks and as such, it warrants increased attention to avoid potentially costly problems. Here’s what you need to know.
Oct 11, 2019 1:41:32 PM
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.
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.
Feb 20, 2019 2:09:45 PM
In Part 1 of this two-part blog, we discussed the challenges facing higher education organizations and how solutions like employer of record (EOR) services can contain costs and increase operational efficiency when integrated into a comprehensive, workforce management program.
Feb 13, 2019 11:04:00 AM
A broad and growing array of services and tech solutions for managing contingent is being embraced and adopted by industries of every kind. Historically, in the higher education vertical, the need for such solutions hasn’t been pressing until recently. Growing interest is due to developments which make non-employee workforce elements more necessary and attractive to colleges and universities. This two-part blog will explore the emerging challenges behind the increased interest in workforce management solutions among higher education institutions, how to sort through the array of solution options, and the type of results driven by their successful implementation.
Dec 27, 2018 10:00:00 AM
As has been our tradition here at the nextSource blog, we’re once again looking back over the last four quarters of content we’ve produced on a wide range of topics relevant to workforce planning and management. It is always interesting to make this review as it provides a tidy summation of the state of our industry and helps keep us focused on the subjects most relevant to workforce management professionals seeking to remain at the bleeding edge of developments and trends affecting their respective organizations. So, without further ado, here’s the recap of the road we’ve all traveled in 2018.
Nov 20, 2018 4:22:05 PM
There are a myriad of challenges facing organizations with respect to workforce planning in a labor environment growing more complex by the year. This is why so many small and mid-sized businesses (SMBs) are following the lead of large enterprises in engaging third-party solutions to address problems such as talent gaps, worker classification, tax filings, workers’ compensation, insurance, onboarding/off-boarding, and many others. Here are four key functions any quality solution provider must be able to address so that an organization can fully focus on core business instead of dealing with these labor-intensive and time-consuming tasks.
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.