Diversity, equity, and inclusion (DE&I) is a foundational element of the Future of Work movement. Inclusive workplace cultures, diverse workforces, and equitable treatment of talent are all critical attributes of successful organizations. Today on the Future of Work Exchange, we present an exclusive infographic, The Top Four DE&I Strategies in 2023.
Today’s article features a recap of last year’s Future of Work Exchange Executive Roundtable conference. Registration is now open for this year’s edition, which will be held on June 13 in Boston at the historic Harvard Club venue. Register now!
In June 2022, Ardent Partners and the Future of Work Exchange hosted “FOWX Live,” an executive roundtable event focused on the core Future of Work topics that are driving business transformation. For many in attendance (including me!), it was the first time attending a live event since before the beginning of the pandemic.
John Healy, founder of Whrrr.work and one of the earliest Future of Work evangelists (and a former workforce solutions executive), kicked off Tuesday’s agenda with a spirited morning keynote that distilled various points of research around the Future of Work. “The way people connect with work is broken” is how John began his keynote address, discussing how the world of work has been transformed and requires new and innovative thinking regarding how businesses connect their projects with open talent-led work models.
FOWX Live featured two engaging panels:
One of the major highlights of FOWX Live was the ability for attendees to converse with each other at “roundtable” sessions on core Future of Work topics, such as remote/hybrid work, DE&I, contingent workforce management, and technology strategy. These roundtable discussions featured lively discourse around these important areas of the Future of Work movement, and when it came time to “switch” roundtables (attendees could spend 30 minutes each at two different topic-led tables), it was tough for everyone to wrap up the conversations! Truly a highlight of this week’s event.
MA State Rep. Josh Cutler closed out the day as a special guest lunch keynote; Rep. Cutler was a prominent member of the Commonwealth of Massachusetts’ Future of Work Commission. He spent the lunch hour discussing the report’s major findings and how they were applicable to both professionals and businesses alike.
Last year, the Ardent Partners team hosted the inaugural Future of Work Exchange LIVE (“FOWX Live”) executive roundtable event, which saw executives from around the globe connect, converse, and network around topics such as the extended workforce, remote and hybrid work, the evolution of talent acquisition, services procurement, etc.
The second annual edition of our exclusive executive roundtable series returns on June 13 in Boston at the historic Harvard Club venue. Join us for an engaging and exciting event in the heart of Boston as we discuss the topics that are driving change in the world of work and talent.
This event will bring together thought leaders and industry experts to explore key topics such as the impact of technology, the changing nature of work, and strategies for attracting and retaining top talent. Whether you’re looking to optimize your procurement processes, revamp your talent acquisition strategy, or improve your HR practices, this event is for you.
Don’t miss this opportunity to network with like-minded professionals and gain valuable insights that will help you drive success in your organization. Register now to secure your spot at the Future of Work Exchange LIVE executive roundtable event in Boston on June 13. We look forward to seeing you there!
The world of work and talent continues to evolve, especially in the face of global uncertainty. Over the past few years, enterprises have experienced a variety of “Future of Work accelerants” that have forever altered the ways they address how work is done. In the next edition of the Future of Work Exchange‘s exclusive infographic series, we present The Five Major Shifts Transforming Businesses today.
In just a few weeks, Ardent Partners and the Future of Work Exchange will publish their Direct Sourcing 2023: Scalable Processes, Sustainable Talent research report. “Talent sustainability” is a key focal area not only for direct sourcing strategies, but greater talent acquisition initiatives, as well. Let’s revisit a critical piece from 2022 on the link between these talent-driven programs.
Many HR, talent acquisition, and contingent workforce program leaders overlook particular phases of direct sourcing, especially talent curation and segmentation, since they have been conditioned to manage their processes within the confines of a traditional contingent workforce management (CWM) initiative that follows more procurement-oriented procedures (i.e., supply management, heavy cost focus, etc.). Even under a centralized CWM program, the most critical direct sourcing strategies and capabilities require more time, focus, and resources than what is typically available with non-employee workforce management.
For example, talent curation is a critical piece to the direct sourcing puzzle and is considered crucial to the entire hierarchy of the process. In a direct sourcing program, recruiting expertise (via an MSP, talent curation partner, etc.) curates talent for the business, ultimately helping its client build a deep talent cloud or community using a series of augmented approaches, including branded job portals, targeted ads and recruitment marketing campaigns, and artificial intelligence-led candidate matching. The solution that is leading the direct sourcing program can also leverage the organization’s brand power to attract potential candidates, as well.
While some enterprises maintain deep pools of talent that are more “general” in scope, these may not be effective from an agile workforce perspective. Organizations typically overlook talent pool segmentation and maintain a single repository of talent pool candidates; this failure to segment is a missed opportunity to build a nimbler approach to finding candidates based on geography, skillset, role, etc. Talent pool segmentation enables enterprises to better “organize” their candidates for easier, faster, and better alignment with future requirements, as well.
A typical first step in talent community segmentation is to conduct due diligence around candidate skillsets, past work history, compensation, proficiency, and overall enterprise hiring alignment. Segmentation is what allows a business to be more dynamic in how it addresses its talent needs. It also answers many current sourcing challenges while fostering relationships with candidates with emerging and new skillsets or expertise.
By spending more time in the initial phases of direct sourcing (and, subsequently, executing consistent maintenance of internal talent communities/pools), businesses are able to build a more seamless bridge to “talent sustainability,” which the Future of Work Exchange defines as a by-product of leveraging workforce solutions (such as extended workforce technology, VMS, etc.), direct sourcing channels, and both private and public talent communities, etc. to build self-sustaining outlets of talent that 1) map to evolving skills requirements across the enterprise given product development and the progression of the greater organization, 2) reflect existing expertise and skillsets across the enterprise that can be leveraged for real-time utilization, and, 3) allow hiring managers and other talent-led executives to leverage nurture and candidate experience strategies to ensure that all networked workers are amiable and open to reengagement for new and/or continued projects and initiatives.
The Great Resignation has become more volatile, and with its wide-sweeping ramifications playing critical roles in how enterprises structure their workforce in the second half of the year, it is crucial that strategies such as direct sourcing contribute to overall talent scalability. Leveraging the power of direct sourcing’s key elements (and associated technology) can assist businesses in maximizing the positive elements of the “Talent Revolution” and parlay them into means of attracting the best-fit, highest-quality talent. Talent sustainability will be the way businesses thrive in the near future…and direct sourcing is a direct link to get them there.
Ardent Partners and Future of Work Exchange research has long pointed to services procurement (and SOW-based projects and services) as the “next frontier” for contingent workforce management. Comprising upwards of 50%-to-60% (or more!) of the average organization’s total external workforce spending, services procurement remains a prime opportunity for businesses to drive savings, improve visibility, and, most importantly, reshape how work is done.
In a new research study underwritten by Magnit and developed by Ardent Partners and the Future of Work Exchange, we have unveiled some new strategies that can assist enterprises in augmenting services procurement in a Future of Work era:
The large cost savings opportunities that exist for most enterprises in services procurement and the management of SOW-based services make it the next, big frontier for leaders of the extended workforce to tackle. However, a general lack of rigor, combined with issues such as globalization and uncertain economic times, are limiting business leaders’ ability to approach this complex area of spend in a more transformational way.
For enterprises to reimagine the approach to services procurement, they must follow a new model that blends Future of Work accelerants, dynamic data and intelligence, real-time automation, next-generation workforce management technology, and a willingness to adapt and adopt agile solutions.
This Ardent Partners and Future of Work Exchange research report will discuss how businesses can transform their services procurement and SOW (“Statement of Work”) management programs by (1) modifying buying behavior with advanced automation, controls, and data, and (2) developing an impactful initiative that leverages expert services and solutions.
Click here to download the new research study.
Over the past three years, the talent acquisition landscape has undergone a significant transformation, largely driven by the global pandemic. In the face of economic uncertainty and unprecedented challenges, organizations have realized that attracting and deploying top talent is no longer just an advantage but a critical necessity. As we navigate this new era, the ability to foster innovation, creativity, and drive has become essential to survival and success. It is abundantly clear that the post-pandemic world will reward those who can attract and retain the best talent.
To thrive in the competitive and uncertain labor market, businesses must do whatever it takes to stay ahead of the game. This means expanding their talent pipelines, improving hiring strategies, and scaling talent acquisition in ways that benefit the organization in the long term. While direct sourcing is not a new strategy, it has gained popularity due to its alignment with the direction of the world of work and talent.
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The next generation of digital technology is here. Web 3.0 is on the horizon and it’s poised to have a significant Future of Work impact due to its revolutionary nature. Web 3.0 is defined as the integration of blockchain technology, artificial intelligence, machine learning, the Internet of Things (IoT), and augmented reality, with the convergence of these advanced digital solutions presenting an innovative transformation for the modern business.
The advent of Web 3.0 is not just a natural evolution of the internet at scale, but rather a calling for a new era of decentralization, automation, and intelligence exchange.
A crucial impact area of Web 3.0 is workforce decentralization. By integrating blockchain, professionals will have more control over their personal data, profiles, and accolades, and thus, will be able to monetize their skillsets via decentralized platforms linked by blockchain technology. By being more empowered and autonomous, the non-employee workforce will be enabled with more control, as well as new and more opportunities, for freelance, contract, and gig-based work and positions.
This autonomous, digitally-enabled decentralization would, in essence, catalyze a boundaryless and frictionless stream of work opportunities matching with available talent and expertise…a true Future of Work disruptor that would transform the way we think about recruitment, hiring, and talent acquisition.
Another impact of Web 3.0 on the Future of Work is the automation of tactical and repetitive tasks. With the integration of AI, robotics and other automated systems will be able to perform menial and repetitive activity, freeing up human workers to focus on more creative and strategic work, a boon for efficiency and productivity.
The promise of Web 3.0 also revolves around the idea of transformative data exchange, with IoT concepts driving seamless sharing of critical data between enterprise devices, platforms, and systems. In a remote-work-driven business arena, this is a crucial element in enabling workers, no matter where they may be, to drive decision-making by leveraging real-time enterprise data. Too, this quashes much of the concern of the distributed workforce: giving on-demand, enterprise-grade access to data via Web 3.0 technology convergence means that workers will always be robustly interconnected to their peers, colleagues, and leaders no matter the workplace model.
There are some concerns that these technological advancements may negatively impact the global workforce, displacing some jobs and roles (and even creating income disparity). It will be incumbent on enterprises and government entities to invest the time and resources for reskilling and upskilling initiatives that would ensure that workers are prepared for a new digital age with the proper and aligned skillsets to adapt.
The future of the Future of Work is based on many factors (as we detailed recently). Web 3.0 and its digital experience will prove to be a major disruptor for the world of work and talent.
It’s all about the “experience” today. All aspects of the modern-day workforce, including both FTEs and contingent workers, revolve around the day-to-day (and long-term) experience within a workplace setting. Business leaders cannot rely on archaic modalities of management any longer if they want their workers to be happy, satisfied, and, most importantly, productive. In the latest edition of the Future of Work Exchange‘s exclusive infographic series, How Are Businesses Enhancing the Employee Experience?, we unveil some new research findings on how business leaders plan to improve their employee engagement and employee experience initiatives.
There is no doubt that the way we work continues to change. From remote and hybrid work to major transformations across the business leadership spectrum, the “Future of Work” means many things to today’s forward-thinking organizations.
Ardent Partners and the Future of Work Exchange are excited to team up with Guidant Global for an exclusive webcast on April 26 (11am ET) that will unveil the five key workforce trends that all businesses should prioritize as they look to thrive in 2023…and beyond. I’m excited to speak alongside Guidant’s SVP of Client Relationships, Sara Gordon, and the solution’s Client Solutions Director, Joel Forrester, for what will be a memorable live event. Register now!
