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Contingent Workforce

Why You Should Seek to Collaborate, Rather than Control, with Procurement Processes

[Today’s guest contribution was written by Paul Vincent, Global Head of Services Procurement at Randstad Sourceright.]

No one volunteers to wear a straightjacket unless they are a magician.

It is now almost 25 years since I had my defining services procurement experience.

I was working for a global corporation, and, after spending 11 years in different buying roles, I switched to product management and took responsibility for a portfolio that generated about $200M revenue per year. While in this role, I was asked to spearhead a comprehensive change agenda that included reflecting on the external service providers we contracted at the time.

To achieve this objective, I worked closely with the procurement professionals who supported my new division. I had not worked with this team before but I was confident that we could easily collaborate.

I was so wrong.

During our first meeting, I asked for their opinions and ideas on how to best assess the performance of the incumbent suppliers. “We can do anything you want, Paul, as long as it is already written in the service schedules,” I was told.

But the service schedules didn’t seem to be as well defined as they could have been. I looked at this as an opportunity to get creative with the benchmarks.

“Of course, Paul, as long as we don’t ask the suppliers to do something new. We can’t risk them raising the price,” they suggested.

“We should also start to proactively look for alternative sources of supply,” I said.

“No, we can’t do that yet,” they replied.

“Why ever not?”

The procurement team explained that the contracts were not near enough to term and they didn’t want to waste time qualifying any new suppliers until they started the retendering process.

“But I want to explore what is available in the market,” I said, “and I am sure you have other suppliers you can recommend?”

“Well, not really, Paul,” they said. “We are so busy that we can’t monitor the supply market ourselves, so we typically ask stakeholders like yourself to nominate any additional suppliers for the tender.”

I took this as great news and thought it meant I could identify some new suppliers that we could hold exploratory meetings with.

“No. As we just told you, we can’t do that until we start the retendering process.”

This left me frustrated. I felt like the team wasn’t hearing my needs. I was the product owner and I wanted to begin this work. I also wanted to start meeting with the current suppliers to better understand our return on investment from working with them.

“You mean you want to challenge their pricing?” they said.

“No, not necessarily — I just want to know what we’re getting for our money.”

“Well, we would need to have that discussion with them. You are not empowered to talk commercial terms with suppliers, only the procurement team is.”

“But, I am the budget holder. I have a business need for their services. I am accountable for what they deliver. Why can’t I speak with them?”

“Sorry, Paul, you can speak to them about operational matters but when it comes to any commercial topics, you need to leave that to us.”

“I told you already I don’t necessarily want a price reduction, I just want to understand what value they are giving me.”

“Well, we need to be careful about that. You see, if you start asking them to increase their value then they might want more money. So we can avoid that if we control the conversation.”

And so, there you have it. Twenty-five years ago I first encountered that word “control” in a procurement/stakeholder context, and I have been allergic to it ever since.

Despite me being in charge of a product portfolio that brought in $200M a year, despite being accountable for decisions that affected hundreds of operations personnel, and despite being the budget holder of millions, apparently I couldn’t be trusted to speak to a supplier. Through the eyes of that procurement team, I was a maverick because I wanted to go outside of their process to instigate sensible and necessary business actions. I can still vividly remember the exasperation I felt at how little the team seemed to care about what was important to me. There was no collaboration.

In the 25 years since, in my various roles, I’ve seen many services procurement experiences play out similarly. And this naivety has infected managed services providers (MSPs), too.

Don’t set yourself up for failure.

How many procurement professionals are still viewing an SOW management solution as a way to stop their business stakeholders from doing something? How many MSPs focus their solutions on controlling or reining in perceived maverick or rogue behavior?  If you have spent any time walking in a stakeholder’s shoes, you will agree that this mentality often leads to failure.

Ardent Partners’ and the Future of Work Exchange’s annual buy-side research, similar to many other contingent workforce research initiatives, consistently cites stakeholder resistance as the number one reason why services procurement solutions fail. And the number one reason stakeholders resist a services procurement solution is because, in reality, way too many of these programs have the characteristics of a straitjacket. So, who can blame them?

How to drive stronger collaboration.

In 2007, I returned to procurement, first as a global category leader and then a consultant. My experiences as a stakeholder had a transformative effect on the contribution I was able to offer to my internal and external clients. Here are the three key things I always tried to keep front-of-mind to improve outcomes:

  1. Be oven-ready for new stakeholders. When primary stakeholders and budget holders rotate, as they very often do, there is a window of opportunity when the procurement team can be significantly valuable during their acclimatization period. What are the current supply arrangements? What are the issues of the day? How could the new stakeholder be a catalyst for increasing supplier value? Maintain a storyboard that can be ready at a moment’s notice. Being oven-ready like this also ensures the procurement lens is outwardly- and future-focused.
  2. Always seek to improve the procurement process. It is critically important that you are regarded as a champion for effective and not outdated buying practices. Stakeholders will want speed and simplicity. Suppliers will want to minimize their cost of sale. True business partnering happens when all parties are invested in each other’s success, so the more you demonstrate a collaborative center of gravity, the more you can expect your stakeholders and suppliers to positively reciprocate.
  3. Don’t expect anyone to volunteer to wear a straightjacket. The word control means to “to exercise restraining or directing influence over someone or something.” Through the lens of a services procurement solution, this means that reluctant participation is all you will be able to realistically expect. Better outcomes will result with stronger collaboration, rather than control.

The only way a services procurement solution can be sustainably successful is if it is insight-led and purposefully designed to enable the stakeholders’ objectives, not to control what they can and can’t do.

Connect with Paul on LinkedIn, or visit Randstad Sourceright for more information on their solutions and offerings.

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Let’s Not Forget About Contingent Workforce Management (CWM)

The extended workforce has revolutionized the ways work gets done, giving businesses an opportunity to react dynamically to real-world problems and challenges while leaning on an agile network of top-tier skillsets and expertise. Future of Work Exchange research has consistently found that enterprises drive incredible value from the utilization of the extended workforce, especially in the face of a continued global pandemic that has reinforced the need for flexible talent, the ability to scale staff, and align mission-critical projects with all-world expertise.

Ardent Partners and the Future of Work Exchange define the extended workforce as “the evolution of contingent labor and accounts for major transformations and talent shifts happening in today’s world of work and talent. The extended workforce’s strategic value and impact are driven by the utilization of contractors, freelancers, gig workers, talent pool candidates, professional services, and other forms of non-employee talent, and is enabled by innovation within talent acquisition (such as digital staffing, direct sourcing, and talent marketplaces).”

There’s a big piece of the extended workforce value proposition that cannot be ignored: contingent workforce management (CWM). The extended workforce represents evolution and progression, and CWM reinforces the need to apply both tactical and strategic capabilities, as well as the right technology, to drive many layers of value from this growing bucket of talent (which now represents nearly 47% of the average company’s total talent).

The non-employee workforce represents something entirely different than it did years ago. Today’s non-employee talent is a core element to organizational success, enabling businesses with the level of workforce agility required to become more dynamic in response customer, competitor, and market actions. With nearly half of the total workforce considered contingent in some sense, it is incumbent upon businesses to drive maximum value from their extended workforce. Ignoring this area of talent is essentially ignoring almost half of the people running the enterprise – executives that ignore the extended workforce in 2021 are guilty of human capital management malpractice.

There are several nuances to contingent workforce management in 2021, some of which are progressive concepts that reinforce the shifting links between talent and the way work is addressed and done. Other distinctions inherent in today’s extended workforce are direct ramifications of a challenging 2020 and reflect the major shifts in 1) how enterprises now perceive their skillsets and expertise, 2) how these workers support mission-critical projects and initiatives, and 3) how the impact of crucial changes (societal changes, progression of technology, etc.) in the talent acquisition arena will continue to transform how work is done.

In 2021, the average business is actively addressing critical organizational endeavors with a variety of non-employee skillsets and talent, choosing to converge their traditional full-time workers with the unique expertise inherent in the extended talent pool. Future of Work Exchange research finds that the typical business, however, must leverage a series of tool, solutions, and strategies to derive the true value of this workforce:

  • Contingent workforce management practices have long followed a robust blend of technology, process, and strategy orientation that is marked by efficiencies across the end-to-end spectrum of talent and work. Best-in-Class programs are built on core capabilities that drive consistent talent acquisition approaches, proper optimization of talent channels and sources, and cross-functional coordination between key internal stakeholders.
  • Technology and innovation are central to the Future of Work movement. As businesses transform the way they engage and leverage talent, and as they undergo major shifts in work optimization, automation will be the ultimate linchpin for these strategies. Best-in-Class organizations are actively relying on several key technology platforms to better engage talent, enhance workforce management, and drive flexibility and agility, such as VMS platforms, extended workforce solutions, digital and on-demand staffing, MSPs, and direct sourcing technology.
  • Eighty-two percent (82%) of Best-in-Class enterprises have integrated SOW management and services procurement into their core CWM programs, a fact that reinforces the need for businesses to effectively track, monitor, and manage all elements of their extended workforce (not just the contingent laborers). Often augmented by VMS or extended workforce solutions, Best-in-Class businesses have integrated capabilities into their programs that include resource-tracking, milestone and delivery date visibility, full sourcing and bidding processes, and other processes required to manage what is often considered the largest chunk of non-employee workforce spend.

In looking at the role of the extended workforce, the key to success is multifaceted and wide-spanning: embrace the evolution of talent, tap into both traditional and progressive platforms, and leverage next-generation strategies to best align the workplace environment with the ideal-fit talent and skillsets. Top-performing organizations are leading the next era of work optimization because they are actively adapting to the major shifts in the talent and work arena while also cultivating a culture of agility and flexibility.

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The Extended Workforce is a Piece of the Total Talent Puzzle

For years, the very topic of “total talent management” (“TTM”) was an eye-raising and polarizing discussion, given the fact that the very underlying concepts around TTM involved several distinct sets of processes and capabilities (i.e., procurement, spend management, contingent workforce, HR, etc.) that did not historically mesh given their focuses on “commodities” versus “talent.” However, as the growth of the contingent workforce continued to expand within the total workforce (now sitting at 47% of all talent), strategies to have standardized, centralized, and aligned approaches and competencies for managing all types of talent, no matter the source, became ever more critical. And, with contingent workforce utilization continuing to grow and approaching nearly half of the average enterprise’s total workforce, it is incumbent on procurement leaders, HR executives, and contingent workforce management program heads to maintain clear visibility into the entire collection of organizational talent to execute better-informed and more intelligent decisions regarding the future use of labor.

Future of Work Exchange research finds that nearly 70% of businesses want to address key technological gaps in the greater coverage of the total workforce. This includes having full visibility into total talent, a state we refer to as “total talent intelligence,” which enables organizations with the ability to make real-time hiring decisions as new needs and project arise. Based on available talent and their skillsets and expertise, be it FTEs, staffing suppliers, or known/vetted candidates in talent pools, hiring managers can harness the power of total talent intelligence to make real-time talent judgments. This attribute is perhaps one of the strongest links to true business and workforce agility.

With the contingent workforce evolving over the past several years to encompass additional channels of non-employee talent, the language best used to describe it has also changed. This natural progression has led to another term: the extended workforce.

Shakespeare’s famous line, “What’s in a name? That which we call a rose by any other name would smell as sweet,” is apt and appropriate here – no matter what we call the evolving contingent workforce, its underlying impact is still that of a powerful, market-shifting force that drives competitive value and supports overall business agility. AS the contingent workforce, size scope, and strategic impact has expanded, new terminology that captures this evolution makes sense. “Extended” is yet another natural progression for this industry; contingent workers are sometimes thought of as mere line-items or “faceless” workers across the greater organization. Calling this spectrum of non-employee talent the “extended workforce” reflects the symbiotic link between an enterprise and all of its workers and how that relationship enhances the very idea of how work gets done.

As businesses navigate the so-called “next normal” ahead, they will require strategies, solutions, and technology that can effectively manage the full facet of its extended workforce in order to maximize the inherent skillsets and expertise offered by non-employee talent.

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Talent, Technology, and Transformation are the Future of Work (Upcoming Webinar)

For the past several years, the simplest way I could define the Future of Work was the optimization of work via talent, technology, and transformative thinking. While the Future of Work has evolved mightily given specific accelerants and the advent of innovative new tools and strategies, the foundation is the same. This year’s Future of Work Exchange Report for 2021 (formerly titled The State of Contingent Workforce Management) found that:

  • The pandemic’s main effects on enterprise talent were squarely focused on a series of interconnected attributes related to the workforce, especially in regard to the type of worker required to meet fast-changing needs and requirements of the business and the means in which to manage it effectively.
  • Traditional workforce management required new approaches to assure ongoing operations, given the mighty (125%!) increase in the utilization of remote and hybrid work models.
  • Going into 2020, 43.5% of the average organization’s total workforce was considered “contingent.” In 2021, that number sits at 47% and there are strong indications that this percentage will grow as the transformation of talent and work continues forward.
  • 82% of businesses stated in our study that the agile workforce enabled flexibility and scalability at a time when it was most needed. As markets recovered, enterprises had the ability (via talent marketplaces, talent pools and communities, as well as traditional staffing suppliers, etc.) to ramp up hiring to meet growing demand.
  • The impact of workplace culture evolution in 2021 means that more workers, having experienced more individual control and responsibility over their work days, would like to retain some level of control over when and how they get work done – from the hours that they work to how they physically address their workspaces. As businesses push deeper into the realm of digital transformation, the remote work-specific facets of worker and workplace flexibility are not only better-enabled (via enhanced collaboration tools and unified communications), but more realistic pieces of the Future of Work movement, and, most importantly, a central asset to overall work optimization, and;
  • The enterprise’s renewed focus on its human capital and overall depth of skillsets across the greater organization (as 62% of organizations are prioritizing in 2021 and beyond, according to FOWX research) means that businesses require the necessary tools, solutions, and strategies for engaging, managing, and driving value from their extended workforce.

I’m excited to join Beeline’s Judy Bumgarner (their Director of Product Strategy) on an exclusive webcast TOMORROW at 11am ET to discuss the new research, the above bullets, and, of course, the Future of Work today and into 2022. Click here or on the below image to register.

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The Age of the Agile Workforce (Upcoming Webinar)

Around a decade ago, the business world was in a full economic swing. After the darkest days of the Great Recession, enterprises were experiencing a surge for products and services that forced them to reevaluate how work got done due to the recessionary hangover; businesses were still gun-shy of hiring traditional workers at a pre-downturn clip, causing another spike in the utilization of contingent labor.

Just prior to that point in time, the “perfect storm” erupted; both businesses and independent professionals awoke to the value each brought to the table. Since then, neither has looked back.

Today’s “agile workforce” comprises 47% of the average company’s total talent, a far cry from 15 years ago when less than 12% of professionals were working on a contract basis. That the contingent workforce has had staying power is not surprising; there has been so much incredible value driven by this workforce that it also became a “hero” when the COVID-19 pandemic hit early last year. In fact, Ardent Partners and Future of Work Exchange research has discovered that 82% of businesses experienced greater workforce flexibility and scalability due to the power of the agile workforce.

I am thrilled to join Geoff Dubiski, Chief Solutions Officer at Workforce Logiq, for an exclusive webcast tomorrow (October 6) at 11am ET. Geoff and I will discuss the findings from the recent Future of Work Exchange Report for 2021; we will highlight:

  • The latest trends in the world of work and talent.
  • The Best-in-Class strategies, solutions, and capabilities for thriving in an evolving business climate.
  • The pillars of the Future of Work movement, and;
  • How businesses can leverage the next three months to plan for a successful 2022.

Click here to register for tomorrow’s event or click on the image below. I hope to see you there!

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Key Providers for 2021: RightSourcing

The Background:

The healthcare industry often operates very differently from other key verticals, independent of major global trends and the challenges that plague the average business. The COVID-19 pandemic hit this sector the hardest in terms of staff shortages, worker burnout, safety and health concerns, etc. Future of Work Exchange research finds that while 90% of businesses believe that a semblance of “business normalcy” will be within reach sometime in early 2022, executives within the healthcare industry are not as convinced: 98% of healthcare businesses believe that normality is, at the earliest, two years away.

The extended workforce has long been a high-impact, high-value generator of true business agility. However, prior to 2020, the healthcare industry lagged behind their peers in regards to utilizing this type of labor to its maximum value, perhaps owed to insufficient supply channels, internal barriers due to archaic thinking, and the complexities in finding the right skillsets and expertise. The past eighteen months have brought about a change in thinking, largely due to the pressure put on healthcare facilities to shift talent to different locations, bring in on-demand talent when staffing shortages arise, and better plan for a quickly-evolving pandemic that continues to strain resources. FOWX research indicates that 98% of enterprises in this industry believe their non-employee workforce will be critical in the months and years ahead.

Enter RightSourcing.

Why They Were Selected:

RightSourcing, the healthcare-focused MSP arm of PRO Unlimited, has long been a dominant player in this industry due to its unique blend of managed services augmented with the power of the Wand VMS platform. RightSourcing may operate as a “specialty provider” in regard to its healthcare focus, however, the solution reflects the innovative approaches of its parent company in how it provides a wide range of services to its customers, including SOW management and services procurement, direct sourcing, DE&I support, and payrolling.

In addition to these offerings, RightSourcing also leverages a robust advantage through its data-driven analytics and market rate intelligence capabilities, two differentiators that are tailored for a complex and evolving healthcare workforce.

In Their Own Words:

RightSourcing provides a single, integrated platform of high-touch services and innovative technology solutions to help healthcare and higher education organizations increase cost savings, improve talent quality, mitigate risk and drive effectiveness within their contingent workforce program.

We are NOT a staffing company. We are not owned by, or affiliated with, a staffing company. We are PURELY vendor-neutral, which ensures true goal alignment with our clients. This vendor-neutral MSP approach leverages a nationwide network of clinical, IT, and business/professional staffing partners to provide the broadest access to talent at competitive market rates.

We provide clients with accurate, up-to-date labor market rate guidance. Historically, a lack of market labor rate intelligence has prevented healthcare organizations and higher ed from fully optimizing their hiring decisions. This results in significant unnecessary spend by paying higher market rates by role and/or location.

Bundling RightSourcing’s MSP experience with our industry-leading Wand VMS technology and actionable analytics makes RightSourcing fully accountable for the entire scope of an organization’s non-employee workforce. An integrated workforce management platform is more cost-effective, more agile, and maximizes efficiency to ensure the success of the program.

The Outlook:

The majority of healthcare staffing and healthcare HR/talent acquisition executives plan to invest more time, resources, and energy into optimizing the impact of the extended workforce, including tapping into direct sourcing (and talent pool), alternative talent channels, and talent marketplaces. With the continued weight of the pandemic forcing staffing shortages and worker burnout, healthcare enterprises must drive true workforce agility through today’s evolving contingent workforce.

RightSourcing is well-positioned as a powerful MSP that can blend progressive service offerings, a nimble VMS platform, and forward-looking, data-fueled solutions to transform the way the healthcare industry finds, engages, and manages its contingent workforce.

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Key Providers for 2021: Bluecrew

The Background:

With 47% of the average company’s total workforce now comprised of “contingent” or “non-employee” workers, Ardent Partners and Future of Work Exchange research has discovered that the power of the Gig Economy has traversed beyond a specific set of verticals and industries. Sectors such as light industrial, health care, and the realm of blue-collar and hourly work have all realized the inherent value of an agile workforce that was essentially designed to help in an era when dynamic workplace structures are what separates businesses from the competition.

One of the challenges faced by these sectors in the past was the sheer complexity of talent acquisition prowess required to effectively engage talent based on variable demand and the unique inner-workings of shift-based and hourly work.

Enter Bluecrew.

Why They Were Selected:

Bluecrew’s unique value proposition, which centers around a “Gig Economy meets traditional contingent labor” approach, allows the company to enable a truly “elastic workforce” within its client base by tapping into Bluecrew’s liquid base of vetted workers. Augmented with industry-leading candidate matching technology that is driven by machine learning, Bluecrew provides its clients with a fully-automated administrative portal that balances both talent acquisition and workforce management.

In a business world that now runs on flexibility, the Bluecrew marketplace and workforce management platform are solutions that are actively helping enterprises tap into on-demand talent and develop true workforce agility.

In Their Own Words:

Founded in 2015, acquired by InterActive Corp (IAC) in 2018, and recognized by Fast Company in 2020 as one of the most innovative workplace companies, Bluecrew is disrupting traditional hourly staffing (a $130 billion addressable market, almost exclusively offline) by pioneering “Gig 2.0”. 

Hourly workers – we call them Crew Members – are Bluecrew’s lifeblood. We employ thousands of W-2 workers who are dependable, looking for flexibility, and ready to accept short- or long-term jobs, which they are intelligently matched with by our Elastic Hourly Workforce (EHW) platform. Bluecrew’s EHW combines multiple products and services into an end-to-end, intuitive solution for Crew Members to manage their work lives, and for our workplace customers to manage their hourly workforce.

Our workplace customers are challenged with variable demand; longer term, more predictable variability such as seasonal and cyclical, and less predictable, shorter-term variability like absenteeism and large, unexpected customer orders. This variability in demand creates complex challenges to effectively and efficiently manage hourly labor which until Bluecrew, has been left unsolved.

The Outlook:

Sectors such as light industrial, retail, hospitality, and other hourly-based industries are anticipated to experience upwards of 35%-to-40% growth in the utilization of non-employee labor over the next few years, reinforcing the need for both on-demand access to vertical-specific talent marketplaces (and other on-demand channels of skillsets) and end-to-end workforce management. This expected growth will result in more headaches for hiring managers that are seeking to fill roles quickly, efficiently, and with data-driven approaches at the helm to result in the best-aligned fit between workers and open jobs.

Bluecrew’s innovative “elastic workforce” approach to the hourly workforce market positions the solution to thrive in evolving times, especially considering the expansion of workforce agility into industries that are expecting to increase their utilization of non-employee talent in the months and years ahead. As these sectors continue to realize the hard-line benefits of the extended workforce, it will be platforms such as Bluecrew that will help fuel the ultimate optimization of how work is done.

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The Future of Work Exchange Meets “The Deep End”

The business world is consistently evolving, with a global pandemic setting off accelerants that are pushing the boundaries of how businesses address how work is done. Future of Work Exchange research points to a variety of factors that enterprises are focused on today in regard to how they are transforming the way work gets done, including:

  • The transition from manual- and paper-based tactics within workforce management to a world of a digital talent acquisition and recruitment.
  • The prevalence, benefits, and long-term impact of remote work and hybrid work models.
  • The rise of empathy-led business leadership and a greater focus on worker well-being/wellness.
  • The critical interjection of diversity, equity, and inclusion (DE&I) into core business operations, and;
  • The continued growth and impact of the agile workforce.

I recently had the pleasure of joining Workforce Logiq’s Chief Solutions Officer, Geoff Dubiski, for the company’s highly-regarded The Deep End vodcast/podcast series. Click below to enjoy FOWX meeting The Deep End for insights on empathy in the evolving world of work, why the hybrid work model is here to stay, and some peeks of Ardent Partners’ new Future of Work Exchange Research Study for 2021:

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Key Providers for 2021: myBasePay

The Background:

The extended workforce continues to grow at a rapid pace. Today, 47% of the average company’s total workforce is comprised of “contingent” or “non-employee” workers, which include traditional temporary workers, gig workers, independent contractors, freelancers, and SOW-based labor/professional services. Over the past five years, this number has increased by nearly 40%, proving that the agile workforce has become a key contributor to the Future of Work movement.

Several years ago, as the contingent workforce began its stratospheric rise in growth and utilization, many businesses remained focused on three key elements as this spectrum of talent began to dominate how work was done: visibility into suppliers and the talent itself, annual cost savings on contingent workforce spend, and, perhaps most importantly, the compliance ramifications of utilizing a non-employee workforce.

Today, there are essentially two sides to the 2021 contingent workforce management (CWM) program: 1) the strategic planning that pushes extended talent into the realm of true business agility through top-tier skillsets, access to new sources of expertise, and the innovation happening in talent engagement and talent acquisition, and, 2) the operational components that keep CWM as a well-oiled, effective, and sharply-run program that is not open to various labor, cost, and regulatory risks. Businesses must strike an efficient balance between these two perspectives to ensure that the agile workforce brings both value and flexibility to the greater organization.

Enter myBasePay.

Why They Were Selected:

Future of Work Exchange research finds that nearly 60% of businesses are prioritizing control over compliance and risk management within their contingent and extended workforce programs. While aspects such as remote work, artificial intelligence, and other top-of-mind topics usually steal the headlines in the Future of Work arena, the truth is that compliance and risk mitigation for the non-employee workforce is just as critical as the “newer” elements of talent management and work optimization.

In less than a year, myBasePay has transformed the way businesses think about both the back- and front-ends of their talent acquisition programs through its unique array of compliance management automation, contingent workforce management efficiency, and tools to enhance the overall lifecycle of the non-employee worker.

In Their Own Words:

By the year 2030, half of the US workforce will consist of contingent workers. Simultaneously, organizations are struggling with skills shortages, changing labor regulations, and disruptive technologies.  How can organizations leverage this trend to improve their competitive strategy and thrive in the new economy?

myBasePay’s mission is to help organizations focus on growth and talent development. We aim to achieve this with our employer of record (EOR) model and AI-powered technology enabling us to create an ecosystem where organizations and contingent workers can thrive through transparency, trust, and collaboration.  

Our platform is like having a legal, admin, HR, compliance, and payroll department all rolled into one integrated solution, so organizations focus on growth and finding great talent.

Since our official launch in March, we have:

  • Raised $60M in funding.
  • Set up 67 enterprise customers on our platform. 
  • Achieved 50% growth rate with a $35M projected revenue by year-end. 
  • Focused on diversity and inclusion since day one. Our internal team is led by a Navy Veteran CEO, 58% female, 71% of female staff are working moms, and 67% minority. 

Contingent workers can bring unparalleled agility, flexibility, and adaptability to any organization looking to adopt a flexible work model as their competitive advantage.

The Outlook:

myBasePay is a true turnkey solution for both CWM programs and contingent workers alike, helping to facilitate a spectrum of efficiency within engagement, sourcing, classification, onboarding, and other key facets of the typical talent management initiative. Future of Work Exchange research finds that 84% of businesses were forced to “reimagine” their workforce management operations and processes in light of the disruptions experienced over the past 18 months. If digital transformation was not on the radar for procurement, HR, and other functional leaders before the pandemic hit, these challenging times made it patently obvious that manual processes were no longer acceptable and must be stricken from the workplace.

myBasePay is uniquely positioned as an agile contingent workforce solution that not only provides users with easy-to-use and AI-fueled talent management functionality, but also industry-leading worker classification, onboarding, and compliance management offerings.

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FOWX Alert: PRO Unlimited Continues Aggressive Technology Transformation, Acquires Workforce Logiq

[Editor’s Note: “FOWX Alert” – The Exchange’s coverage and analysis of the Future of Work industry’s most important news, including major announcements, M&A, and other breaking stories.]

To say that global workforce management solutions provider PRO Unlimited has been aggressive in disrupting the market is a vast understatement. In the span of less than a year, the company has:

  • Acquired of the industry’s leading rate intelligence solutions, PeopleTicker.
  • Introduced new functionality and offerings that are transforming diversity, equity, and inclusion for the market.
  • Launched an exclusive partnership with Eightfold to push AI-driven talent intelligence into PRO’s technology (particularly its flagship Wand VMS product).
  • Acquired Dutch MSP Brainnet Group.
  • Optimized client hiring decisions through its unique RatePoint tool.
  • Launched its NorthStar HCM consulting and advisory team, which blends market expertise and talent intelligence into an agile add-on offering, and;
  • Been acquired by EQT Partners, which is actively allowing the solution to fulfill its promise of becoming a true end-to-end workforce management platform.

And, this week, PRO Unlimited announced that it will acquire Workforce Logiq, one of the workforce management technology landscape’s biggest and most mature players. This news is yet another indicator that PRO will continue its aggressive approach towards realizing its goal of becoming an on-demand, agile, and flexible end-to-end platform for managing non-employee and extended talent.

What is particularly interesting about this acquisition that both PRO and Workforce Logiq are like-minded solutions; both have industry longevity on their side and offer hybrid Managed Services Provider (MSP) solutions and Vendor Management System (VMS) technology. In addition, both companies have harnessed innovative approaches towards workforce management technology, particularly in the arena of artificial intelligence and predictive analytics (in fact, we just spoke with Workforce Logiq’s Chief Strategy Officer, Joe Hanna, about this topic on FOWX).

“Both companies have a similar “platform” vision with two like-minded executive and product teams,” said Kevin Akeroyd, CEO of PRO Unlimited. “We essentially both saw the market in the same way, so we knew that [the acquisition] was already heading in the right strategic direction. The cultures between PRO and Workforce Logiq are incredibly well-aligned, as well, and there are many talented people that are now part of the PRO family.”

Together, the two solutions will represent a massive disruptor in the contingent workforce management (CWM) solutions marketplace. This acquisition will allow PRO to expand its global reach even further and enable existing Workforce Logiq clients the sheer breadth of offerings under the PRO umbrella. Ardent Partners and Future of Work Exchange instant analysis is as follows:

  • PRO Unlimited will undoubtedly make immediate use of WFQ’s impressive array of AI-led innovation. WFQ seemingly went from a standard MSP/VMS hybrid under the ZeroChaos brand to purveyor of AI-led workforce management solutions in short order when it moved to the Workforce Logiq brand, including its 16 patent-pending analytical technologies and toolbox of AI-led reporting functionality.
  • The ENGAGE Talent factor could be the most interesting facet of this deal. Back in 2019, I wrote that Workforce Logiq’s acquisition of ENGAGE Talent was a workforce management solutions gamechanger. “ENGAGE Talent’s technological sweet spot (predictive AI-powered algorithms) enables users to anticipate talent supply chain gaps, analyze real-time global labor conditions, and develop deep talent-based scenarios for short- and long-term contingent and full-time total workforce planning.” ENGAGE is/was one of WFQ’s most prized and innovative market offerings; we fully expect PRO Unlimited to take advantage of this deep tool to advance its intelligence-led technology.
  • PRO’s industry coverage becomes even more expansive than it was before the acquisition. While both PRO and Workforce Logiq are “household” names in the CWM solutions market, each paved its own path through dozens of unique verticals. PRO’s acquisition of WFQ opens the solution to clients in some very large industries, including automotive, healthcare, and telecom.
  • Strengths of both solutions, particularly DE&I and direct sourcing, will become more robust under the unified company. PRO’s recent enhancements of its direct sourcing and diversity, equity, and inclusion offerings was a strong way to kick off 2021. Workforce Logiq was an early pioneer of the direct sourcing model (even nicknaming it “self-sourcing” back in 2019) and has long been a force when it comes to improving DE&I in staffing and talent acquisition. These two very critical aspects of the Future of Work will become even stronger under the unified PRO/WFQ brand.

Beyond the obvious “scale” factors of the acquisition (such as combining two of the industry’s largest providers from RPO, payrolling, and other standard workforce management operations), there is something much larger – and more critical – at play: the fact that PRO Unlimited now has incredible positioning as an end-to-end workforce management solution that leads with innovation, data, and intelligence. Workforce Logiq’s main differentiators from the MSP pack have always sat in its wide-ranging abilities to plug-and-play real-time labor market, job role, rate, and other forms of deep intelligence into its core managed service operations. That PRO now has these functionalities at its fingertips is a true competitive transformation for the platform.

“There are incredible synergies here between the two solutions,” Akeroyd said. “Adding Workforce Logiq’s deep ocean of data and their innovative analytical tools to PRO’s end-to-end platform are going to be very impactful in how we continue to transform contingent workforce management for our customers. This is an acquisition that truly allows us to accelerate on our vision.”

(Financial terms of the acquisition, which is expected to close in Q4, were not disclosed. Stay tuned to the Future of Work Exchange for more insights on the evolving workforce management technology landscape.)

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