Technology and Innovation Archives - Page 3 of 13

A New Era of Innovation, Part V: The Transformative Solutions Landscape

Solution Providers Technology and Innovation by Christopher J. Dwyer on 09/11/2023

Over the summer, the Future of Work Exchange featured a series of articles focused on the “new era” of innovation happening within the technological landscape associated with the Future of Work movement. The exclusive feature series highlighted providers that are revolutionizing the many ways businesses not only find, engage, source, and manage talent, but also how that talent is leveraged to optimize how work is addressed and done.

Given the advancements in arenas such as direct sourcing, digital staffing, VMS, extended workforce management, total talent management, and MSP-led services, the workforce solutions arena stands out as a revolutionary force in today’s business world. Its agility allows companies to stay ahead of the curve, its flexibility adapts to the changing nature of work, and its pace of innovation continuously reshapes the landscape of talent acquisition and management.

As businesses continue to navigate an ever-evolving talent landscape, the workforce solutions industry remain a critical enabler of success, offering the tools and strategies needed to thrive in an increasingly competitive environment. Today, we feature four additional solutions that represent a new era of innovation.

HireGenics

The Future of Work Exchange has a history of tracking the progression the Managed Service Provider (MSP) model by discussing how these mature industry giants have transformed the way businesses manage the many intricacies of extended workforce management. In the face of unprecedented change in how work gets done, some MSPs have converted their offerings to suit the flexibility and agility attributes inherent in today’s Future of Work-led enterprise arena.

HireGenics is a reflection of this evolution. The organization has made waves by changing MSP delivery models to be more “in tune” with the innovation required to help businesses succeed in the current frenetic climate. The solution’s “MSP 4.0” model represents a forward-thinking approach to MSP offerings by leveraging artificial intelligence and insight-driven analytics to optimize talent acquisition, enhance diversity, and offer flexibility in scaling according to shifting market demands. HireGenics is actively reshaping contingent workforce management with innovation and adaptability at its very core.

eTeam

With over 350 of the Fortune 1,000 as key clients, eTeam represents the next generation of managed services and total workforce solutions. For nearly two decades, the organization has offered its deep MSP capabilities to companies across the globe, while expanding over the years into new regional markets and adding deep offerings in SOW management and services procurement, integrated talent solutions, EOR and payrolling, direct sourcing, etc.

eTeam’s global suite of solutions extends to several innovative arenas, as its umbrella of organizations address many progressive attributes of the new world of work and talent. High5 is a market leader in direct sourcing and digital staffing, while Compass (EOR and payrolling) and Elevance, a next-generation compliance and risk mitigation tool, round out its arsenal. eTeam’s TOTAM solution is a unique take on total talent management as an innovative blend of freelancer management, digital staffing, DE&I automation, business intelligence, and VMS tools that converge within a robust technological infrastructure.

Rightsourcing (by Magnit)

The healthcare workforce faced its toughest challenge in 2020 and 2021 as the COVID-19 pandemic ravaged hospitals, burned out workers, and reimagined how this industry viewed its talent and expertise. An interesting facet of this vertical, however, was the fact that hospitals and healthcare facilities increased their utilization of non-employee labor and extended talent during this harrowing time, proving that, yet again, the contingent workforce could play “hero” during troubled times.

Rightsourcing (part of Magnit) fosters workforce innovation in the healthcare and life sciences verticals by allowing organizations to tap into external expertise and Best-in-Class contingent talent. With the power of Magnit’s Integrated Workforce Management (IWM) platform behind it, Rightsourcing is a market leader in the healthcare (and life sciences) industry with its cutting-edge managed services delivery and wide suite of offerings that enable businesses in these sectors with flexibility, agility, and Future-of-Work-era technology and automation. As the healthcare workforce evolves, solutions such as Rightsourcing will lead the path to optimizing talent, enhancing patient outcomes, and meeting the unique and critical demands of this intricate industry.

Graphite

The impact of digital staffing cannot be understated; Ardent Partners and Future of Work Exchange research underscores not only its evolution but also its rampant growth, as utilization of these platforms has increased by almost 800% over the past five years. This statistic serves as a testament to the profound impact these solutions wield within the Future of Work movement and the broader spheres of work and talent.

Enterprises aim to seamlessly connect top-tier expertise with the specific projects and initiatives that demand such capabilities. Graphite, an expert network provider, was established with the vision of uniting businesses with exceptionally skilled independent professionals using advanced matching capabilities, artificial intelligence, and comprehensive project oversight. Graphite represents a cutting-edge talent marketplace that prioritizes adaptability, nimbleness, AI-driven solutions, and the ability to expand the workforce as needed.

The Age of AI in Talent Acquisition

Talent Acquisition Technology and Innovation by Christopher J. Dwyer on 09/05/2023

Artificial intelligence (AI) has become an indispensable part of the toolkit for every business professional, whether they are involved in automating internal processes or enhancing customer experiences through AI-driven tools. However, in the realm of talent acquisition, AI emerges as a true powerhouse, poised to transform the way organizations engage with talent, streamline candidate selection, and elevate the overall hiring experience.

From a business and hiring perspective, AI plays a pivotal role in modern direct sourcing programs. Enterprises can harness the capabilities of AI to revolutionize candidate engagement strategies. With AI, organizations can pinpoint the ideal candidates for specific roles or projects by considering a multitude of factors, such as their experience, expertise, portfolios, and even their soft skills. The candidate matching attributes of AI rely on extensive skills taxonomies and innovative skills DNA, which in turn expedite direct sourcing and transform it into a comprehensive talent acquisition tool.

Regarding the candidate’s viewpoint, AI is now at the heart of the candidate experience. Companies that utilize direct sourcing can empower workers to take greater control over their profiles and professional personas. This includes enabling candidates to “self-manage” attributes like certifications and experiences, which are then used by AI to recommend positions that align with their career trajectories and workstyle preferences. This personalized approach not only enhances the candidate’s journey but also fosters a stronger connection between candidates and potential best-fit employers.

Ardent Partners and Future of Work Exchange underscores the significance of AI in reshaping talent acquisition efforts. As businesses increasingly rely on the extended workforce, a staggering 75% of enterprises are planning to boost their usage of AI and similar tools such as machine learning, chatbots, and AI-infused skills management. These technologies are seen as critical enablers for improving talent acquisition initiatives, streamlining hiring and recruitment processes, and ultimately securing the best-aligned talent for organizational success.

And, artificial intelligence’s influence on talent acquisition extends far beyond the initial stages of candidate sourcing and engagement, as well as within direct sourcing initiatives. AI-driven solutions are instrumental in addressing the ongoing challenges of workforce management and development:

Learning and development. AI can help organizations identify skills gaps within their workforce and recommend personalized training and development plans for employees. This ensures that the workforce remains adaptable and up-to-date with the latest industry trends.
Proactive talent acquisition via predictive analytics and scenario-building. By analyzing historical hiring and performance data, AI can predict which candidates are more likely to succeed in specific roles, enabling companies to make more informed hiring decisions.
Diversity, equity and inclusion (DE&I). AI can be used to remove biases from hiring processes and promote diversity and inclusion within the workplace, creating a more equitable and diverse workforce.
Talent retention. AI-powered tools can monitor employee engagement and satisfaction, helping companies identify issues early and take proactive measures to retain top talent.

In a rapidly evolving job market, where talent is a key differentiator, the role of AI in talent acquisition and management is only set to grow. Its ability to streamline processes, enhance decision-making, and foster a more inclusive work environment positions AI as an essential tool for organizations looking to stay competitive and agile.AI has permeated the world of talent acquisition, empowering both businesses and candidates. Its role as a catalyst for efficient and effective direct sourcing cannot be overstated, and the future promises even greater integration of AI-driven solutions in the quest for top talent. As the landscape of talent acquisition continues to evolve, AI will remain at the forefront, driving innovation and delivering unparalleled value to organizations and candidates alike.

AI in Talent Acquisition Coming into Its Own

Business Leadership Contingent Workforce General Insights HR Solution Providers Talent Talent Acquisition Technology and Innovation by John Yuva on 08/25/2023

Artificial intelligence (AI) is omnipresent, impacting all businesses and industries. However, where AI is showing immense potential is in the greater world of work and talent — specifically, talent acquisition. Few technologies in history can affect everyone, but AI’s capabilities are doing just that whether you’re an HR leader, recruiter, business manager, employee, or job candidate. AI brings revolutionary and transformative change to the Future of Work. A rising tide of enrichment is here and here to stay.

Research from Ardent Partners and the Future of Work Exchange reveals that 80% of businesses expect to begin or increase their utilization of AI tools and technology by 2024. A staggering statistic. Thus, within the next four to six months, the vast majority of enterprises will be utilizing AI technology.

The Rising Tide of AI in Talent Acquisition

The impact of AI on business and its growing influence on talent acquisition was the topic of discussion during a recent Ardent Partners and Future of Work Exchange webinar featuring special guest Opptly, titled “The Rising Tide of AI in Talent Acquisition.”

Speakers Christopher Dwyer, managing director of Future of Work Exchange; Opptly’s Lori Hock, CEO, and Rebecca Valladares, head of operations, addressed how AI is changing the talent acquisition landscape. Dwyer shared that within the next 18 months, 74% of enterprises plan to leverage AI to improve the candidate experience. This is a sign of how much AI will play a critical role in attracting job candidates in the near future.

The following includes several key points shared during the webinar that show AI is not only here, but here to stay.

Framing AI for TA from Three Perspectives

When thinking about AI for talent acquisition, frame it in three perspectives: the enterprise (the business use case), the recruiter, and the candidate. On the enterprise side, it’s about improving hiring efficiencies through AI as well as improving diversity, equity, and inclusion initiatives. At the same time, AI can identify current skill sets and where skill gaps exist in the organization to better understand who and where to hire for those roles.

The recruitment side can leverage AI for the identification of various skills and expertise — a skills DNA assessment — to strategically pinpoint the type of candidate who can bring immediate value to the enterprise. More organizations are shifting to skills-based hiring where candidate experience and purposeful work can thrive.

Finally, AI can transform the candidate experience using chatbots to guide candidates more efficiently through the application process, as well as provide customizations and real-time engagement that attracts candidates and educates them about the business.

Transforming the Hiring Manager Experience

Because the hiring manager is making the final candidate decision, enhancing that experience with AI comes with several benefits. First, a qualified and accurate slate of candidates expedites making the decision about who to interview and ultimately hire. This has a positive impact on the experience itself, but also on the production and retention of hired candidates because the match is accurate from the beginning. If the AI on the front end of the process can provide the recruiter with the ability to be more thoughtful and deliberate about conversations with candidates, the hiring manager only benefits from that process.

It is important for recruiters to understand the hiring market, the available roles, and what types of candidates succeed in those roles. AI can sort through that data quicker and provide analytics around those areas for the recruiter and hiring manager in a more meaningful and consumable way. By bringing such business intelligence forward through AI, it bridges the strategic insights for the recruiter on candidate advisement that the hiring manager can leverage in making their final candidate decision.

Delivering Positive Impacts of AI on TA

First and foremost, HR, recruiters, and hiring managers can and should use AI to increase their talent pool and gain the broadest access to talent available. In this age of skills-based hiring, the extended workforce is critical to talent pool expansion, which creates further efficiencies through reduced time-to-fill rates that lead to cost savings.

An artificial intelligence area that should not be overlooked is continuous learning in a systematic way. AI is an enterprise asset that will improve and provide exponential value over time. Unlike past technological advancements where an organization implements the technology and utilizes it for five years before it’s replaced, AI technology grows and improves as the business evolves. As the business needs change, the use cases change. AI has a continuous learning value proposition where its performance for talent acquisition and talent management insights remains high.

At the end of the day, talent acquisition puts people to work and AI plays an essential role in that process. Make AI what you need it to do. Effect positive change by integrating AI into talent and workforce processes.

Optimize Your Workforce with Recession-Proof Strategies, Part Three

Business Leadership Contingent Workforce Diversity and Inclusion General Insights HR Talent Technology and Innovation Uncategorized by John Yuva on 08/17/2023

Today concludes our three-part series exploring several contingent and workforce strategies to achieve a recession-proof enterprise.

We’re now two months into the second half of 2023 and economically speaking, things are looking positive. The Bureau of Economic Analysis reports that GDP grew 2.4% in the second quarter of 2023. The labor market remains tight with unemployment at 3.6%, a rate not witnessed in decades. However, according to the U.S. Bureau of Labor Statistics, the tight labor market provides the Federal Reserve with the flexibility to continue raising interest rates to fight inflation. Currently, inflation rests at 3%, a percentage point higher than the Federal Reserve’s longer-run goal of 2%.

Does the state of the current U.S. economy equate to a “soft landing” and the evasion of a recession? Maybe, maybe not. Due to the expectation of continued interest rate increases and the potential ramifications, uncertainty remains among executives and their enterprises. Thus, many are considering strategies over the next six to 12 months to recession-proof their critical workforce and their organizations.

Let’s begin part three by exploring employee engagement and how that dovetails into workplace visibility and intelligence and better workforce decision-making.

Prioritize Employee Engagement and Experience

Enterprises successful with total talent management initiatives credit prioritizing employee engagement and experience. Engagement and experience begin at the first touchpoint between job candidates and the organization. Candidates gain an understanding of the workplace culture and workforce priorities. This only carries through as an employee where communication, collaboration, DE&I, flexible scheduling, and wellness programs are emphasized and implemented. When workers understand the criticality of contingent to permanent employee engagement, instituting surveys, focus groups, and other feedback mechanisms for data gathering and workforce improvement are accepted and valued. Those analytics enhance the employee experience and provide strategic insights for enterprise operations.

Enhance Workforce Visibility and Intelligence

Implementing employee surveys and leveraging HR systems and similar technologies are essential to gaining greater workforce visibility and intelligence. The process should begin with three main focal areas. First, define the goals and metrics the organization wants to achieve. Is it attracting more skills-based candidates? Improving workforce productivity? Reducing turnover rates? Optimizing workforce resources? With those metrics defined, KPIs can be established to measure progress and achievement.

Second, ensure that data collection occurs in a centralized system for ease of analysis and interpretation. Data is likely to come from several disparate systems that when analyzed together reveal unknown insights. HR data combined with performance metrics can show correlations between training and productivity, for example.

Third, today’s integration of artificial intelligence and machine learning technologies is integral to sifting through volumes of data for meaningful insights and patterns. Use these analytic tools and similar platforms to streamline data synthesis and transparency.

Utilize Workforce Data and Intelligence for Better Decision-Making

With data residing in a centralized data warehouse, HR and business managers can leverage such data and intelligence to enhance employee engagement programs and optimize enterprise workforce operations. Talent strategies around recruitment, acquisition, and retention are prime areas where optimization can occur. How is the enterprise projecting itself in the marketplace to attract candidates? Is direct sourcing driving a large percentage of the acquisition strategy? If so, what channels are being underutilized? Are there strategies to keep valuable employees engaged?

Most importantly, use workforce intelligence for better planning and resource allocation. Combining historical data with market trends, enterprises can better predict future staffing needs. It provides a proactive approach to addressing skill shortages or overages and optimizes resource allocation to meet business demands efficiently.

While economic uncertainty remains, enterprises can better prepare their workforce for the unexpected with strategies that foster agility, resiliency, and flexibility. Recessions are not a matter of if but when. Strengthen your workforce today for any disruption — economic or otherwise — that may occur tomorrow.

Announcing the 2023 Digital Staffing Technology Advisor Report

Contingent Workforce Direct Sourcing Technology and Innovation by Christopher J. Dwyer on 08/16/2023

Omni-channel talent acquisition has become a centerpiece of the Future of Work movement. Revolving around the concept that enterprises are now enabled with a variety of talent sources that can be converged to drive real-time skills alignment, on-demand hiring, and enhanced visibility into deeper attributes of candidates, the idea of omni-channel acquisition reflects the veritable evolution of talent engagement.

While traditional staffing suppliers are still a critical piece of the extended workforce and everyday hiring, the “omni-channel experience” represents a new era in which enterprises can expand their talent searches through the advent of innovation, direct sourcing automation, new candidate channels, and next-generation and AI-fueled technology.

With this in mind, Ardent Partners and the Future of Work Exchange have developed the new Digital Staffing Technology Advisor report, which was designed to help HR, procurement, human capital, and talent acquisition executives navigate the digital staffing technology market. This report analyzes and assesses the primary solution providers in the marketplace today within the direct sourcing, talent marketplace, workforce management, and freelancer management technology industries.

The new Digital Staffing Technology Advisor analyzed and assessed 13 distinct providers of digital staffing, expert network, direct sourcing, talent marketplace, and freelancer management solutions, and is the ideal guide for those enterprises seeking to make an investment in these platforms in the months ahead.

Click here to download the new study, which is complimentary for qualified procurement, HR, talent acquisition, and talent management practitioners.

The Future of Artificial Intelligence

Events Technology and Innovation by Christopher J. Dwyer on 08/15/2023

Artificial intelligence is ubiquitous, seemingly fostering a new era of technology and innovation that is poised to spark a revolution in how businesses find (and engage) talent, address how work is done, and structure core business operations. Within this spectrum, the very power of AI is already beginning to influence one of the most critical functions in the contemporary enterprise: talent acquisition.

I’m thrilled to join Opptly’s Lori Hock (CEO) and Rebecca Valladares (Head of Operations) tomorrow, August 16, for a Future of Work Exchange exclusive webcast that will demystify some of the confusion around artificial intelligence and spark discussion around its potential as a talent acquisition industry gamechanger.

Lori, Rebecca, and I will discuss:

How AI can be leveraged to drive efficiency, accuracy, speed, and deeper, data-driven decision-making.
Why AI will become the de-facto tool for recruiters and talent acquisition professionals.
How AI can revolutionize new strategies such as skills-based hiring and predictive analytics, and;
The future of AI-led tools (such as ChatGPT) and their responsible use as they become more entwined with everyday business processes.

Optimize Your Workforce with Recession-Proof Strategies, Part Two

Business Leadership Contingent Workforce General Insights HR Talent Technology and Innovation by John Yuva on 08/10/2023

We’re now two months into the second half of 2023 and economically speaking, things are looking positive. The Bureau of Economic Analysis reports that GDP grew 2.4% in the second quarter of 2023. The labor market remains tight with unemployment at 3.6%, a rate not witnessed in decades. However, according to the U.S. Bureau of Labor Statistics, the tight labor market allows the Federal Reserve to continue raising interest rates to fight inflation. Currently, inflation rests at 3%, a percentage point higher than the Federal Reserve’s longer-run goal of 2%.

With that in mind, the Future of Work Exchange features part two of a three-part series exploring several contingent and overall workforce strategies to achieve a recession-proof enterprise over the next few weeks. Part two explores the next three strategies.

Enhance Overall Workplace Culture

Enhancing a workplace culture for both contingent and permanent workers means creating opportunities for communication, engagement, and performance. First, it should start with clearly communicating the enterprise’s core values and mission that lead to consistent behaviors and performance goals. The mission and core values should permeate the enterprise and be modeled by leadership. Second, a workplace inclusive of different backgrounds and perspectives, while also promoting employee engagement, fosters a sense of belonging and community. Inclusiveness and engagement can transform workforce communication as well as generate collaboration and strategic problem-solving. And third, institute a reward and recognition system that promotes higher performance, skills development, and innovative thinking. Ultimately, bringing enhancements to the workplace culture not only helps retain talent but attracts it as well.

Holistic Approach to the Workforce Beyond Productivity

The Future of Work has brought greater attention to the workforce beyond just productivity. HR leaders, business managers, and executives who take a holistic workforce approach are placing greater emphasis on employee empowerment, emotional intelligence, and meaningful work. When employees are given more autonomy, they take ownership of their work and experiment with new ideas — a win-win for the employee and the enterprise. Similarly, leading with empathy has been shown to create a more supportive environment where managers and employees are more attuned to the well-being of colleagues. When it comes to purpose, assigning employees to projects where their passions or strengths lie makes the work more meaningful. That alignment will enhance job satisfaction as well.

Reallocate Budgets for Investment in Automation and Technology

When it comes to realigning budgets for greater investment in automation and technology, begin with identifying redundant processes and inefficient workflows. Show stakeholders how automation can eliminate the costs associated with inefficiencies. From a talent perspective, employing automation for talent acquisition and talent management, particularly for the contingent workforce, can bring those processes in-house for more strategic decision-making. Extended workforce platforms expand the power of VMS technology, for example, by offering more talent-oriented solutions that augment how a business manages nuanced, Future of Work-led aspects, such as DE&I, talent communities, services procurement, the candidate experience, the hiring manager experience, etc. With enterprises shifting to skills-based hiring, utilizing automation and technology to attract candidates with specific skills and competencies is now a strategic imperative.

The economy is proving resilient against a recession. However, implementing holistic workforce strategies focused on talent attraction and retention, workplace culture, and automation and technology can be just as impactful against recessionary trends. Next week, we’ll explore three more recession-proof enterprise workforce strategies.

A New Era of Innovation, Part IV: The Future of Work Awaits

Contingent Workforce Direct Sourcing Solution Providers Technology and Innovation by Christopher J. Dwyer on 08/07/2023

Over the past three weeks, the Future of Work Exchange has featured a series of articles that have highlighted the innovation occurring within the world of workforce management, talent acquisition, and staffing technology and solutions.

We live in a new era, one that is heralded by evolution, innovation, and acceleration…all part of the “Future of Work movement” that dictates how we work and how we thrive. Talent is the centerpiece of this movement, a veritable engine of sorts that drives innovation, sparks ideation, and facilitates competitive differentiation in a globalized market that thrives on expertise and top-tier skillsets.

The 2023 business climate requires more focus on “talent sustainability,” which refers to the strategic approach that organizations take to ensure the long-term prosperity of their enterprise by attracting, retaining, and nurturing their workforce. It encompasses creating an environment that promotes employee engagement, development, and well-being, while aligning with the organization’s goals and objectives. By investing in their workforce’s growth and development, businesses can unlock the full potential of their employees, driving productivity, innovation, and ultimately, profitability. Additionally, adopting a socially responsible and ethical approach to talent management can help to create a sustainable and equitable workforce, which benefits both the organization and its employees.

The progression of workforce solutions reflects the notion of talent sustainability, as today’s talent management platforms and systems represent this “candidate-centric” focus, as well as the acceleration of key Future of Work-era elements, particularly direct sourcing, omni-channel talent acquisition, and innovative talent-led strategies.

High5

High5 is not just a “total talent” platform, but also a pure representation of omni-channel talent acquisition technology and solutions. The organization blends a unique array of tools and services under one umbrella platform, with an innovative convergence of digital recruitment, direct sourcing (and managed direct sourcing), talent marketplace, candidate assessment, staffing infrastructure, and extended workforce management offerings that actively revolutionize the ways enterprises find, engage, source, manage, and retain top-tier talent.

What sets High5 apart and differentiates the solution from others in this arena is its powerful, talent-led offerings are an ideal alignment with the candidate-centric priorities of businesses today. High5 presents a frictionless candidate engagement process that quickens time-to-fill rates while also revamping talent assessments and onboarding processes; the vetted talent included in their vast candidate community represents top-tier expertise and skillsets.

In essence, High5’s solution is the convergence of total talent management, and, of course, Future of Work-era concepts.

Prosperix

Prosperix, formerly known as Crowdstaffing, rebranded nearly two-and-a-half years ago at a critical time in the business arena; the branding and vision shift reflected the utmost criticality of the candidate, as well as the burgeoning focus on transforming the ways enterprises engaged, sourced, and managed external talent.

While the solution was originally known for its powerful talent marketplace and direct sourcing prowess, the Prosperix platform supercharges these attributes and offers a robust, end-to-end, and differentiated VMS tool.

Prosperix’s groundbreaking “VMS Network” stands as a Best-in-Class platform, seamlessly merging digital staffing technology and next-gen VMS functionality to reimagine the relationship between an enterprise and its talent supplier base. The combination of direct sourcing, candidate experience management, end-to-end contingent workforce management, and digital staffing, along with its new Xponential offering, positions Prosperix as a powerful platform embodying the finest Future of Work-era technology.

Atrium

The Managed Service Provider (MSP) model has entered a period of evolution, with many of these solutions progressing as the world around them continues to change. With a shift in thinking about “traditional” workforce management solutions, the MSPs that embrace technology, push revolutionary models, and think outside of the box will be the ones that thrive in 2023 and beyond.

Atrium stands out for its deep commitment to direct sourcing and a strong dedication to diversity, equity, and inclusion (DE&I) throughout its core MSP offering. Under the “Atrium Works” banner, their contingent workforce management (CWM) solutions offer a comprehensive range of services for total talent management with a suite of offerings that include advanced direct sourcing, an “Early Talent” program, and robust technology expertise to build agile Future of Work-ready workforce programs. Atrium’s adaptable MSP model provides comprehensive, end-to-end support that flexibly caters to changing customer requirements.

SAP Fieldglass

The Vendor Management System (VMS) arena has always been a hotbed of innovation, especially dating back to the earliest days of The Great Recession (2008-2009), when a historical rise in utilization of contingent labor forced these solutions to revamp how they intersected within the talent technology ecosystem. SAP Fieldglass was a VMS pioneer, and, when global enterprise giant SAP acquired them in 2014, it signaled a new era of total talent management given its soon-to-be-connected links to SAP’s core offerings, particularly SAP Ariba and SAP SuccessFactors.

SAP Fieldglass represents not just the continued progression of VMS technology, but rather a convergence of Future of Work-era innovation and robust extended workforce automation. The platform provides an end-to-end, holistic perspective of the contingent workforce by integrating with the capabilities of SAP SuccessFactors (revamping the impact of HR and procurement functionality’s convergence), SAP Ariba (enhancing the spend management and supplier optimization attributes of extended workforce management), and other SAP technologies.

By leveraging its expanded capabilities (many of which have been enhanced over the past few years), SAP Fieldglass equips businesses to proactively manage the multifaceted challenges of today’s talent landscape. With a focus on total talent intelligence and AI-led, proactive analytics and reporting, the platform enables superior talent decision-making, streamlined processes, and a deeper understanding of workforce dynamics. SAP Fieldglass stands as a testament to the evolution of VMS into a cutting-edge workforce management technology arena, poised to guide organizations through the complexities of contemporary talent management.

Stay tuned for Part V of this exclusive, exciting new Future of Work Exchange series.

A New Era of Innovation, Part III: The Next Generation of Workforce Solutions

Contingent Workforce Direct Sourcing Solution Providers Technology and Innovation by Christopher J. Dwyer on 08/01/2023

Over the past two weeks, the Future of Work Exchange has featured a series of articles that have highlighted the innovation occurring within the world of workforce management, talent acquisition, and staffing technology and solutions.

In a business world that is hyper-competitive and globalized, enterprises essentially run on talent. In such a corporate climate, there are many factors that can prohibit the modern enterprise from succeeding. Perhaps the largest of these is the major skills gap that exists within a majority of businesses today, and the inability to support critical projects and initiatives with necessary expertise.

In today’s rapidly evolving talent landscape, a plethora of channels has emerged, offering businesses a variety of options to source and manage their workforce. From digital staffing marketplaces and traditional staffing vendors to professional services, talent networks, and social media platforms, the choices are endless.

The scope around these choices is an idea, omni-channel talent acquisition, that Ardent Partners and the Future of Work Exchange has heralded since 2021. The concepts behind omni-channel talent acquisition are all pure reflections of the Future of Work movement in 2023: flexibility, agility, scalability, and technology.

The next generation of workforce solutions are tailored to meet the demands of omni-channel talent acquisition whilst reinforcing the core principles of flexible talent, workforce agility, workforce scalability, and innovative automation.

AMS

A true innovator, AMS is a multifaceted solution that is founded on “workforce dexterity” through a blend of human capital, contingent workforce, direct sourcing, managed service, and digital offerings. AMS’ core solutions enable companies to stay competitive, innovate, and navigate uncertainties successfully via market-leading managed direct sourcing, Recruitment Process Outsourcing (RPO), and talent advisory offerings.

AMS recently pioneered a unique solution, AMS One, that is a digitized layer of flexibility, AI-powered analytics for real-time insights, faster hiring, and improved diversity within hiring initiatives. It enhances the candidate experience and hiring manager satisfaction, streamlining processes while maintaining a human touch. This groundbreaking convergence of digitization and human-led services positions AMS as a next-generation solution that is tailored for the Future of Work movement’s candidate-centric implications.

HiredScore

The realm of artificial intelligence is, perhaps, the foundational layer of the Future of Work movement’s technological impact. AI is a quintessial “rising tide” that has the power and potential to reshape how businesses structure talent acquisition, workforce management, and everything in-between.

HiredScore represents not only the future of artificial intelligence, but the veritable evolution of workforce technology through the application of flexible, agile, and real-time AI-powered HR functionality. The platform provides personalized career coaching, optimizes talent intelligence, boosts candidate (and hiring manager) engagement, and ensures compliance.

HiredScore’s “Talent Orchestration” platform blends frictionless integrations with core talent management systems (VMS, ATS, etc.) with proactive and actionable recommendations, all rooted in AI-led functionality. The real-time nature of the tool empowers hiring, talent acquisition, and HR stakeholders with real-time intelligence to enhance talent engagement, improve transparency, and transform talent outreach.

HireArt

As we covered in the first entry in this FOWX series, the extended workforce has reached such great heights, with 49.5% of the average enterprise’s total workforce now comprised of contingent talent. This continued (and meteoric) rise in both growth and prominence has sparked a greater need to effectively manage the full lifecycle of processes inherent in today’s more flexible, more impactful contingent workforce management (CWM) programs.

HireArt advances the future of digital staffing with agile solutions encompassing workforce management, Vendor Management System (VMS) technology, and innovative recruiting functionality. Beyond typical talent networks, their cutting-edge platform combines attraction and management of the external workforce; and, with a robust VMS-like solution, HireArt offers a comprehensive blend of compliance, risk management, recruitment, onboarding, and tactical workforce automation, empowering businesses to optimize their contingent workforce more effectively.

Toptal

Toptal is synonymous with the digital staffing revolution, with over a decade of providing customers around the globe with top-notch talent matches through its proprietary blend of digital tools, MSP-like services, and a talent network that boasts the top 3% of candidates in a given field.

Since its inception in 2010, Toptal has demonstrated a commitment to innovation and client satisfaction, adapting to remote work trends and enabling seamless collaboration for distributed teams worldwide. By connecting businesses with global talent, Toptal transcends geographical boundaries, providing limitless professional opportunities. Over the last 18 months, Toptal has grown its “Practices” team, offering clients access to subject matter experts in diverse technology and business fields like cloud services, information security, quality assurance, digital marketing, and management consulting.

Toptal continues to push the boundaries of digital staffing by converging Future of Work-era thinking with a high-touch, value-driven model that traverses the limitations of traditional acquisition strategies.

Stay tuned for the next article in our feature series on the workforce technology revolution.

Elevate Your Future of Work Processes with Blockchain

Business Leadership Contingent Workforce Direct Sourcing Technology and Innovation Uncategorized by John Yuva on 07/27/2023

One of blockchain’s chief benefits is the ability to authenticate and protect information. With today’s decentralized workforces, there is a variety of information possibly at risk, including payroll, insurance, health, and personnel data. Similarly, HR and enterprise recruiters want assurance that potential job candidates and their résumés are authentic and accurate. Blockchain technology has the potential to provide the necessary verification and protection of such sensitive workplace data.

Here are three Future of Work areas where blockchain technology could provide critical verifications and safeguards, particularly for the contingent and gig workforce — from the recruitment to the contracting and payment process.

Recruitment

As direct sourcing becomes more ubiquitous, the need for data verification grows because of the sheer volume of candidate information entering job portals. It can be time intensive for HR and enterprise recruiters to verify qualifications and references. Blockchain can help in the recruitment process.

A candidate’s digital identity on a personal blockchain can save tremendous time authenticating a résumé and associated work experience. It serves as a single source of truth for that individual.
Colleges and universities are now issuing digital degrees through blockchain that candidates can provide a direct link to on their résumés. This same concept of virtual credentials can apply to training certificates and performance reviews for future authentication.
Reduce opportunities for fraudulent candidate information while providing greater confidence in using search engines and other aggregate technologies to automate candidate recommendations and selection.

In a Datatechvibe article, the author states another reason to embrace blockchain for recruitment purposes, “HR managers may become more predictive in anticipating HRM developments by embracing blockchain. They can replace vacant positions faster because the technology cuts the time it takes by leaps and bounds, and they can also improve the data’s legitimacy and dependability.

“Furthermore, they can scale quickly, resulting in a larger candidate pool and a larger data repository to collect data.”

Smart Contracts

When selection of job candidates for contracted or temporary work occurs, an enterprise can institute a smart contract on a blockchain. IBM describes smart contracts: “Smart contracts work by following simple ‘if/when…then…’ statements that are written into code on a blockchain. A network of computers executes the actions when predetermined conditions are met and verified.

“These actions could include releasing funds to the appropriate parties, registering a vehicle, sending notifications, or issuing a ticket. The blockchain is then updated when the transaction is completed. That means the transaction cannot be changed, and only parties who have been granted permission can see the results.”

Such employment contracts provide transparency and immutability for all parties and enable greater enforcement of their terms, conditions, and penalties. With a growing percentage of contingent labor, enterprises can initiate a smoother and more immediate payment system while also benefiting from a paperless process.

Payroll

With smart contracts in place, payroll is where blockchain can add immense value. Much of an enterprise’s most sensitive data resides in payroll — tax documents, pay stubs, benefits information, etc. Blockchain can protect these sensitive records from potential fraud and cybersecurity threats.

In terms of the payment process for contingent and gig workers, enterprises can establish a secure peer-to-peer network and use blockchain for near-instantaneous payment without the involvement of financial institutions. Thus, they can receive instant payment once their contractual obligations are met — without waiting for a pay period or invoice processing.

Blockchain is even more critical for international contractors and gig workers. The Future of Work is a global paradigm with accessible talent worldwide. However, some professionals cannot set up a bank account in their country. Blockchain and peer-to-peer networks solve that issue. In an article for Tech Target, Pam Baker, a technology and blockchain expert, says that with cross-border payments, “Traditional electronic payments (to the receiving country) can be stymied by local regulations and IT security schemes that blockchain payroll systems can overcome.”

Implementing blockchain technology into Future of Work processes will not occur overnight. Enterprises need to work with financial institutions, managed service providers, and other partners to adopt the technology and establish protocols. However, blockchain holds great promise as more organizations pursue digital transformations. The foundation exists to bring blockchain into HR process design. Like many things in business, communication and collaboration will be essential to blockchain’s implementation and realization.