New Technologies Disrupt the Contingent Workforce Space
Traditionally, we see a greater emphasis on innovation in the Permanent Talent Management side and this is reflected in the numerous technological solutions readily available in the market. Contingent space, for the most part, is lagging behind and what is currently out there is large scale Vendor Management Solutions (VMS), such as Fieldglass and Beeline – complex solutions suited for organisations with a hefty Contingent Workforce.
Stop the press!
The Contingent Workforce technology market has EXPLODED! Lots of new technologies are being released and with the rise of the Gig Economy, the implications of this could be immense. As such, they are a MUST for Internal and Agency Recruiters to review and understand these technologies as they could be potentially as disruptive as Uber was to the Taxi Industry.
So to help you get your noses in front, we have put together a list and outline some of their functionalities. These technologies are Adepto, Expert360, Nvoi, Sidekicker and TempBuddy.
You might notice that some of them integrate, overlap and in some cases replace existing VMS offerings but don’t get me wrong – traditional VMS still have a place in the industry and I think their value must be compared to the new kids on the block. Organisations are considering automating their Contingent Workforce Model or are already using existing Contingent Workforce solutions, should definitely make it a point to understand these new emerging technologies.
Adepto helps organisations keep in touch with their “extended contingent workforce”.
It is expected that project-oriented type of work will grow and companies will want to create flexibility to integrate and leverage the contingent workforce. Adepto enables this workforce liquidity through access to the network of internal and external talent on-demand.
Most technologies aren’t available to the business users who deal with contingent workers. Legacy HR systems, VMS, ATS etc. are usually the domain of HR/Recruitment or Procurement. However, contingent workforce management cuts across all business areas. Adepto has recognised this and created a system for all of the business to use while allowing visibility to the HR/procurement users who need it.
Adepto provides a SaaS platform to house live profiles of contingent workers for companies to quickly access and find the right person, for the right project, at the right time. Having data on both internal and external talent, readily available, is giving organisations a true competitive advantage.
Key features of Adepto include:
- Visibility and accessibility to contingent workers within the organisation and in the marketplace;
- The enabling of referrals and connections with the contingent workforce;
- Appraising the contingent workforce, by rating people’s skills and performance;
- Searching, identifying and contacting contingent workers and comparing capability and rates;
- Procuring contingent workers, soliciting interest and availability then shortlisting candidates, negotiating terms and conducting reverse auctions;
- Developing talent pools and networks;
- Onboarding, off-boarding and scaling up and down to match supply with demand;
- Identifying potential contingent talent and tracking job readiness (qualifications, certs).
Expert360 is an ‘on demand’ cloud-based Talent Platform that connects businesses with freelance consultants for project work and improves talent management and agility.
With an existing network of over 10,000 freelancers and firms, Expert360 can help you find and sign a consultant in minutes.
Key features of Expert360 include:
- Searching the top tier contingent worker community, using filters to find the best match;
- A dedicated account management team to provide support;
- Posting a project brief that describes what you need help with, including the profile of the ideal consultant;
- Using the ‘recommendations engine’ that will match your brief with the most relevant consultants and then invite your shortlist to apply for the project;
- Reading reviews from former clients to gain deeper insights;
- Agreeing on key terms (rates, start date, deliverables, approach etc.) directly with the consultant or recorded on the Expert360 platform depending on your payment plan;
- Working directly with the contingent worker on the deliverables and communicate with the consultant regularly through the project to ensure your expectations are met;
- Two payment options:
- Pay per project payment plan, the standard invoicing cycle is fortnightly throughout the project. You’ll receive an invoice from Expert360 for the consultants’ work and service fee.
- Subscription plan in which all contracts and payments will be managed directly between you and the consultant.
- Providing feedback and reviews on the consultant.
Nvoi is an end-to-end workforce-as-a-service platform that provides businesses with a scalable, flexible and on-demand approach for securing talent for non-permanent work assignments. The Platform provides the long-term engagement tool between skill holders and skill hirers without using agency recruiters.
It enables the digital intermediation to initiate and manage direct relations between contractors and hiring managers.
Key features of Nvoi include:
- Providing a marketplace for contingent workers and employers;
- Acting as an employer-of-record ensuring compliance and risk mitigation;
- Providing a video interviewing platform;
- Ensuring skills and qualifications are validated;
- Integrating timesheets, billing and payroll;
- Engaging on either an hourly or daily rate or a fixed price statement of work (SOW) assignment.
Digital intermediation moves beyond offering hiring managers the talent available on a static book, to offering the best talent in the total market to bridging the gap between the skills businesses need and the narrow focus on talent through the agency or job-board models.
Sidekicker is an on-demand staffing platform designed to give clients full transparency and control over the temporary staff they are bringing into their business. The platform can be used for both talent sourcing and as a workforce management tool.
As soon as a client makes a request, their curated contingent workforce is instantly notified through a mobile application. This speed to market is the reason 93% of client requests are filled within four hours.
Key features of Sidekicker include:
- Providing a marketplace for contingent workers;
- Clients are able to create groups of workers they can send requests directly to before sending to the marketplace;
- Templates make posting similar requests quicker and easier for frequent users of the platform;
- Suggested hourly rates for every request to eliminate guess work of first time users;
- Rated and reviewed workers in every category, complete with detailed profiles;
- One click payment for all jobs regardless of size or number of workers hired;
- Direct contact with the worker to ensure a smooth job completion process.
TempBuddy is designed to help staffing companies get their best contingent workers to the right place at the right time. TempBuddy’s workforce management software integrates real-time availability, scheduling, deployment, time capture, pay and bill and compliance into one tool. The Staffing Industry Analysts have described TempBuddy as “uberising” the market.
Key features of TempBuddy include:
- Candidates provide real-time availability via a worker mobile app linked to a recruiter portal enabling agencies to deploy and roster temporaries;
- Biometric time capture is fully automated (check-in and out is done via a selfie), eradicating paper timesheets and human error and enhancing the candidate and client experience;
- Compliance management mitigates risk for all parties, with full visibility for clients via their own portal;
- The SaaS solution is integrated into CRM and payroll environments.
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These freelancer ‘marketplaces’ (Gig Economy) are set to disrupt existing the traditional contingent workforce models. Until recently, Freelancers have been used predominantly by smaller organisations. However, with the growing number of Freelancers in conjunction with the growth of technology solutions, larger organisations and their partner MSP/Master Vendor and CMO solution providers have no choice but to incorporate these into their solutions.
You’ll find these new technologies showcased at the Contingent Workforce Conference in Sydney on 27 & 28 September.
Tickets available here…
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