Extended Workforce Archives - Page 4 of 14 - The Future of Work Exchange

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.

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!

FOWX Quotable: Leveraging the Non-Employee Workforce

Contingent Workforce Talent Talent Acquisition Uncategorized by Andrew Bartolini on 04/14/2023

The Future of Work is rapidly changing, and organizations that want to thrive must adapt to this new landscape. As companies look to compete in an increasingly complex and unpredictable business environment, the non-employee workforce is emerging as a key source of competitive advantage. The rise of the gig economy, coupled with technological advancements that enable remote work and collaboration, has made it easier than ever before to tap into a vast pool of highly skilled and flexible workers.

By effectively leveraging the non-employee workforce, organizations can gain access to specialized talent and capabilities that may not be available in-house. This can help them stay ahead of the curve in terms of innovation, as well as improve operational efficiency and reduce costs. In today’s fast-paced business environment, where speed and agility are critical, the non-employee workforce can provide the flexibility and adaptability that companies need to stay competitive.

However, in order to effectively harness the power of the non-employee workforce, organizations must have the right tools and strategies in place. This includes everything from robust talent management systems to streamlined procurement processes that enable seamless engagement with external talent. It also requires a shift in mindset, as companies must move away from traditional notions of employment and embrace new models of work that are more flexible, dynamic, and inclusive. Ultimately, those organizations that are able to successfully navigate this new landscape will be the ones that emerge as winners in the future of work.

In sum:

“Tomorrow’s business landscape will be shaped by those organizations that understand the power of leveraging the non-employee workforce as a competitive advantage. The ability to effectively tap into this vast and agile pool of talent will be the key to unlocking innovation, driving growth, and staying ahead of the curve in the ever-evolving Future of Work.”

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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FOWX Notes, March 3 Edition

Solution Providers Technology and Innovation by Christopher J. Dwyer on 03/03/2023

Some picked-up pieces, news, and insights from across the evolving world of talent and work:

Direct sourcing and workforce solutions platform WorkLLama announced a series of $50M strategic investments. The new funds will enable the innovative tool with a variety of advantages, including possible acquisitions, a continued commitment to direct sourcing innovation, etc. This level of investment translates into the ability for WorkLLama to continue its long track record of progressive automation in the digital recruitment and total talent management arena.
Opptly announced that it is has completed its the integration of its platform with major extended workforce and VMS solutions provider Beeline. The integration with Beeline’s direct sourcing API suite will deliver an advanced, seamless means of connecting enterprises with the best-aligned, best-fit talent via Opptly’s industry-leading AI-fueled functionality.
Talent management platform LiveHire announced its acquisition of Arrived Workforce Connections, Inc. Arrived’s shift management and mobile-led matching application will be powerful addition to LiveHire’s already-robust suite of offerings. In corresponding news, Arrived’s CEO, Jennifer Byrne, will join LiveHire as its Global Chief Product and Technology Officer. Antonluigi “Gigi” Gozzi, LiveHire’s co-founder, Executive Director, and Chief Product and Technology Officer, will transition out of his executive role.
The Fed’s record rate hikes have done little to cool the hot job market, as unemployment claims dropped once again. A seventh straight week of claims under 200,000 means that unemployment has remained at a level not experienced since 1969.
Thoma Bravo, a Chicago-based software investment firm, has officially completed its acquisition of business spend management (BSM) platform Coupa Software. Announced back in September, Thoma Bravo has finalized the massive $8B transaction. Coupa’s wide range of spend management offerings includes Coupa Contingent Workforce, its dedicated VMS tool for the extended workforce industry.

It’s Time to Reimagine the Talent Supply Chain

Events by Christopher J. Dwyer on 02/28/2023

The extended workforce has become an agile means of thriving in today’s hyper-competitive, globalized business arena. Over the past 15 years, the growth and utilization of this workforce has been steadily rising, proving that when enterprises need to adapt to an evolving business climate, or when they need true workforce scalability, this is the type of talent that shines.

However, as the talent supply chain becomes more complex, so does the myriad ways in effectively managing it. Ardent Partners and the Future of Work Exchange are excited to join VMS and workforce solutions platform Prosperix for a complimentary webinar tomorrow (March 1, 1pm ET) that will help attendees unlock the Best-in-Class strategies for managing the evolving talent supply chain as it continues to become more complex.

Join us! Click here to register.

The Future of Work is Now: Top Trends for 2023 (New Research!)

Business Leadership Contingent Workforce General Insights Talent by Christopher J. Dwyer on 02/14/2023

2023 promises to be a year unlike any other. With rampant inflation, economic uncertainty, and a volatile labor market, enterprises must balance agility, flexibility, and dynamic strategies to thrive in these uncertain times. The year ahead will surely challenge enterprises, with the specter of an economic downturn lingering overhead as well as continued uncertainty regarding the volatility of the labor market. However, as businesses have done over the past three years, they will persevere, they will thrive, and, most critically, they will innovate.

In the spirit of looking ahead, Ardent Partners and the Future of Work Exchange developed a brand new research study: The Future of Work Is Now: Top Trends for 2023. Sponsored by Guidant Global, this exciting new research study highlights the key trends of today’s dynamic world of work and their implications on business operations in the year ahead. Click here to download the new report.

We identified seven key trends that will shape the way businesses find, engage, and source talent, manage their extended workforce, and optimize they ways they get work done. Download the new research study today!

Calling All HR, Talent Acquisition, and Procurement Execs (and Chief People Officers!)

Business Leadership General Insights by Christopher J. Dwyer on 01/24/2023

The Future of Work is here and now. Business leaders aim to optimize the way they engage and source talent, manage their workforce, and ultimately address how work is done. Ardent Partners and the Future of Work Exchange are currently conducting a new research study that will fuel our 2023 research calendar and arm today’s HR, procurement, and talent acquisition executives with Best-in-Class strategies for:

Managing DE&I initiatives and their impact on talent acquisition.
Implementing new and innovative technology, such as artificial intelligence and blockchain.
Addressing progressive leadership transformation, such as conscious leadership and empathy-led management strategies.
Optimizing extended workforce management and contingent workforce management, and;
Leveraging the best capabilities and solutions for recession-proofing the business (and its workforce) in 2023.

Click here to participate in the new research study, which should take about 15 minutes of your time. All survey participants will receive complimentary access to the Future of Work Exchange’s entire 2023 research calendar, including new research studies on total talent management, direct sourcing, DE&I, and more.