Christopher J. Dwyer, Author at The Future of Work Exchange

How Does Direct Sourcing Fit Into Today’s Talent-Driven Environment?

Direct Sourcing Talent Talent Acquisition by Christopher J. Dwyer on 04/24/2023

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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Web 3.0 Is Here to Disrupt the Way We Work

Technology and Innovation by Christopher J. Dwyer on 04/20/2023

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.

How Are Businesses Enhancing the Employee Experience?

Business Leadership by Christopher J. Dwyer on 04/19/2023

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.

The Future of Work is Now: Five Key Workforce Trends

Events by Christopher J. Dwyer on 04/17/2023

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!

The Next Era of Direct Sourcing: A Future of Work Exchange Research Sneak Peek

Direct Sourcing by Christopher J. Dwyer on 04/10/2023

In just a few weeks, Ardent Partners and the Future of Work Exchange will publish the next edition of its landmark direct sourcing series, The Next Era of Direct Sourcing. Today, we present a sneak peek of the groundbreaking new research study. Stay tuned to the Exchange for more news about the new report (and maybe another sneak peek!).

Just a few years ago, the majority of direct sourcing programs revolved around a near-simplified core of processes and strategies meant to assist the overall organization in developing flexible talent pools and talent communities. Since then, direct sourcing has become synonymous with the continued evolution of talent; businesses that desire deep organizational and workforce agility are actively harnessing the power of talent pools (and placing top candidates into the recruiting process) as a viable means of reducing talent acquisition costs, ensuring top-tier skillsets and expertise, and structuring a truly dynamic workforce.

Historically, direct sourcing delivers value by enabling (1) deeper candidate pipelines, without the need for staffing suppliers or intermediaries, 2) more active recruiting and engagement of known talent, such as “silver medalists” and past contractors, and 3) more savings, both hard (reduced staffing markups, more competitive rates, etc.) and soft (higher-quality talent, faster fill rates, stronger performance, reduced risk of bad hires, etc.). In essence, direct sourcing entails several key “phases” that comprise a larger and dedicated program:

Talent curation. Talent curators (often consisting of business leaders well-versed in talent acquisition and hiring) are responsible for identifying top-tier workers and “collections” of expertise and skills that can be tapped in an on-demand manner.
Talent pool development. Talent pool development involves grouping various types of candidates into an on-demand channel of known workers, such as retirees, alumni, silver medalists, past freelancers/contractors, and new candidates that are engaged via branded job portals.
Talent pool segmentation. By segmenting talent pools, businesses can better align new job or project requirements with available candidates. Talent pool segmentation most often involves the cross-section of candidates by geography/region, skillsets and expertise, compensation, certifications, etc.
Integration with core enterprise recruitment streams. One of the most critical pieces to direct sourcing is placing talent pool candidates into the main recruiting streams that hiring managers leverage to source new workers. Talent pools should be integrated and readily accessible in Applicant Tracking Systems (ATS), Vendor Management Systems (VMS), and other key talent acquisition and contingent workforce management platforms.
Talent nurture and communication. This deeper element of direct sourcing involves frequent communication with candidates in talent pools to ensure that they are properly engaged and show interest in potential employment. Talent nurture has become a critical piece of today’s direct sourcing programs, as businesses contend with the “Great Resignation” and a higher number of disillusioned workers that prioritize communication, empathy, and other non-monetary benefits.
Repeatable candidate engagement through company branding and other marketing facets. One of the essential items of direct sourcing is simple on the surface: how do we engage candidates and encourage them to opt-into our talent network? Leveraging job boards and job portals that reflect the company’s overall brand (specifically its color schema and notable design elements) and culture (social responsibility, etc.) are the ideal means of driving candidates into a network from which can be curated into deep talent pools. On top of this is the art of referrals, which, when automated, can allow existing candidates to refer like-minded and similar-skilled workers to join a company’s talent community.

While the above attributes are the veritable core of any direct sourcing program, the truth is that the strategy as a whole has evolved since it began its meteoric rise several years ago. Although even the most intermediary of efforts drive tangible value, there is so much more at stake for direct sourcing than cutting costs and expanding the overall talent pipeline.

Direct sourcing in 2023 is more than just the sum of its parts; in fact, what it represents is a near-alignment with the direct of business now and in the relative future. The labor market is still unsettled, while economic uncertainty (unfortunately) still rules the day. Businesses are in a continued war for talent, as unemployment sinks to historic lows and millions of job openings remain.

Too, the transformations happening as part of the Future of Work movement actively dictate that businesses shift their hiring strategies. All of these facets together represent a new challenge, yet, a new opportunity for direct sourcing: help enterprises cultivate a flexible and scalable workforce that drives true talent sustainability.

What’s Ahead for Extended Workforce Management?

Contingent Workforce Talent by Christopher J. Dwyer on 04/05/2023

Ardent Partners and Future of Work Exchange research has recently discovered that the extended workforce (also known as the contingent workforce) now comprises 49% of all enterprise talent. This astounding figure represents nearly 15 straight years of growth and represents the agility, flexibility, and value of non-employee talent. Today, we present an exclusive infographic that not only highlights the future of extended workforce management, but also includes new Ardent and FOWX research, as well.

The Recession-Ready Enterprise

Business Leadership Contingent Workforce Direct Sourcing General Insights Talent Acquisition Technology and Innovation by Christopher J. Dwyer on 04/03/2023

There has been great debate in recent months about a recession. Are we already in a recession? If a recession occurs, will it be light or something more impactful? Or will the economy be resilient and avoid a recession entirely? Enterprises in technology and media industries are already reacting to recession fears by laying off tens of thousands of workers. As we move further into 2023, how could a recession impact the extended workforce?

Business As Usual

There’s no doubt we’re experiencing challenging economic times. However, businesses must continue with mission-critical projects and initiatives that often require specialized expertise. The skills gap remains inherent in many enterprises, leading to continued demand for contingent workers. And as the Future of Work Exchange research indicates, 47.5% of the enterprise workforce is comprised of extended workers. That figure cannot be ignored, especially during times of economic distress.

Digitization Evolution and Workforce Mercenaries

Despite the recessionary climate, there is an enterprise evolution occurring: digitization. Whether it’s talent acquisition platforms, accounts payable solutions, or larger enterprise resource planning systems, businesses are transforming from tactical (manual) to strategic (digital) strategies across the operational landscape. And with digitization comes the extended workforce.

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The Talent Supply Chain Is Evolving…It’s Time to Rethink How We Approach It

Contingent Workforce Direct Sourcing Events Talent Talent Acquisition by Christopher J. Dwyer on 03/22/2023

Earlier this month, I had the pleasure of joining Prosperix‘s CEO, Sunil Bagai, and Defiant Solutions’ Bryan Pena for a spirited discussion on the evolution of the talent supply chain. Everything You Know About The Talent Supply Chain Is Wrong featured some new Ardent Partners and Future of Work Exchange research, as well as a high-energy roundtable chat focused on how businesses can balance the power of today’s progressive labor market with the proper strategies for thriving in the months ahead.

If you missed the live event, we have you covered. Check out an on-demand edition below.

Five Ways Business Leadership Is Evolving

Business Leadership by Christopher J. Dwyer on 03/21/2023

The Future of Work is built on transformation. When enterprise rethink and reimagine the ways they get work done, innovation becomes the nexus of business operations. The Future of Work Exchange has long defined the Future of Work movement to include three major pillars: 1) the evolution of talent acquisition and talent engagement, 2) the impact and utilization of new technology and innovation, and, 3) the transformation of business leadership.

That third pillar has been critically important over the past several years, especially as many organizations have “rebooted” their operations in the wake of a global health crisis, a newfound focus on “humanity,” and the need to be more talent-oriented to thrive during uncertain times. With this in mind, Ardent Partners and the Future of Work Exchange has developed the below infographic, Five Ways Business Leadership Is Evolving.

What WorkLLama’s $50M Funding Means for the Direct Sourcing Arena

Direct Sourcing Solution Providers Talent Acquisition Technology and Innovation by Christopher J. Dwyer on 03/20/2023

Direct sourcing dominates many of the talent-oriented discussions in our wonderful industry today more so than ever before. Heading into the months before the pandemic began, Ardent Partners and Future of Work Exchange research found that direct sourcing strategies and talent pool development were the top two priorities heading into 2020.

The omniscience of those findings was on point: for the first 18 months or so of the pandemic, direct sourcing exploded due to its ability to drive real workforce scalability (in a time when it was needed most) and improve the candidate and hiring manager experiences. Now that the pandemic is waning and entering an endemic state, direct sourcing is still as vital as ever to businesses that focus on candidate centricity and a talent-led approach to workforce engagement.

Last week, WorkLLama, one of the industry’s leading direct sourcing technology platforms, announced that it had secured $50 million in funding (organized and facilitated by Fairpoint Partners). Now, funding in HR tech is not a rare event, however, within the direct sourcing space, this represents so much more than an innovative solution garnering significant funding.

WorkLLama’s suite of technology does not just fall under the greater “direct sourcing” banner, but rather reflects the “Direct Sourcing 2.0” model that Ardent Partners and the Future of Work Exchange pioneered 18 months ago to reflect the next generation of innovation that has contributed to the future of the direct sourcing technology industry.

“I’ve been lucky to have been involved first-hand since direct sourcing was introduced to the market many years ago,” said Kevin Poll, WorkLLama’s SVP of Strategy and Business Development. “Fast forward to today and seeing the market demand for next-gen direct sourcing technology, it’s exciting and validates the market opportunity and the belief in our innovation and growth. Not only will we help all talent connect to meaningful work, but I’m also personally looking forward to how this investment will allow us to continue advancing the platform to help underrepresented communities.”

WorkLLama has become a leading direct sourcing platform not just because of their overall commitment to the arena, which has been apparent since they entered the enterprise market back in 2016, but rather because the company has leveraged progressive thinking to fuel a new era of direct sourcing, ATS, and end-to-end talent management functionality. The WorkLLama platform, including its unique Sofi bot, offers users with advanced functionality, artificial intelligence, access to superior talent, an enhanced candidate experience, and the enablement of repeatable and scalable direct sourcing processes all contribute to a more advanced direct sourcing program.

“WorkLLama was established in 2016 to solve long-standing challenges within the talent attraction, engagement, nurturing, and retention space,” said Saleem Khaja, COO and co-founder. “Since our inception, we’ve led with the most robust, client-centric, and configurable solution available, with a central mission to provide the highest-level consumer-like experience to talent. This funding is an important milestone in our journey to enable both organizations and talent to become even more successful.”

The massive level of funding here speaks volumes about the direct sourcing technology industry for several reasons:

Direct sourcing has moved beyond the “peripheral platform” spectrum within the talent technology ecosystem. Just a few years ago, direct sourcing solutions were considered peripheral technology; that is, platforms that contributed to extended workforce management and talent acquisition without the standing of Vendor Management Systems and HRIS solutions. Today, that has changed. WorkLLama’s funding is a direct reflection of the criticality of these platforms in driving better candidate outcomes and optimizing talent engagement and recruitment.
Artificial intelligence is now table-stakes for any technology in the workforce solutions market. One of WorkLLama’s leading-edge innovations is the application of AI and machine learning throughout the platform, which shines in its candidate nurture functionality and particularly its Sofi conversational bot. Sofi harnesses the power of AI to automate and facilitate candidate communication and engagement; the WorkLLama platform also leverages AI to catalyze digital recruitment and referral management, two attributes of direct sourcing that are crucial for programmatic success.
The candidate experience and the hiring manager experience are paramount. One of the more interesting developments in the direct sourcing technology arena is the commitment to and focus on “experience-led” aspects of talent acquisition. With a volatile labor market, the candidate experience is, of course, critical (something that WorkLLama achieves through its deep nurture and engagement functionality). What has also become important, however, is the hiring manager experience by arming these professionals (and other talent acquisition leaders) with robust offerings that can facilitate skills assessment, develop deep talent communities, and streamline talent engagement and hiring.

“CEO, CHRO, and CPO leaders face unprecedented challenges as they evaluate new workforce strategies to find and engage talent in today’s market,” said WorkLLama’s CEO and co-founder, Sudhakar Maruvada. “WorkLLama’s growth, especially in direct sourcing, shows that these leaders are invested in innovative solutions to keep up with the changing landscape of work and workers. This investment will allow us to continue to build on our key differentiators and mission of treating candidates like customers.”