Technology Archives - The Future of Work Exchange

Data Delivers…But With Privacy Controls

Business Leadership Direct Sourcing General Insights HR Technology and Innovation Uncategorized by John Yuva on 06/06/2023

The innovative technologies available to enterprises for talent acquisition and talent management are growing exponentially. Along with the growth in HR technology is the vast amount of data that comes with it. Direct sourcing solutions, for example, collect an enormous volume of data about potential candidates. Now with the power of artificial intelligence (AI), an even deeper analysis of employee data can be accomplished. While these insights can be game-changing for workforce productivity and employee engagement strategies, there remains a question about employee privacy.

Technology Pushes Privacy Boundaries

HR is the keeper of the most sensitive employee data in the enterprise from social security numbers to performance reviews to salary information. This standard information has always been under lock and key. However, technology is now extending data into more delicate areas, leading to privacy and security concerns. Consider wearables technology that enterprises are now experimenting with. Used extensively in retail and logistics environments, organizations can now track employee behaviors and health metrics, such as blood pressure, sleep patterns, and daily steps to monitor well-being and engagement.

While HR technologies can help with employee and organizational engagement, enhance efficiencies, streamline processes, and improve executive and managerial decision-making, what are the privacy and security issues of such advancements?

Data monitoring protections. The collection of data through monitoring or surveillance technologies opens the door to sensitive employee information. Whether it’s work habits and behaviors, such as productivity or attendance metrics, or more general health-related information, enterprises should establish clear policies and communicate transparently about the purpose and extent of monitoring to address privacy concerns. In the case of wearables, what are the objectives of using these devices? How will the information be stored? And who has access to it?
Data access controls. One of the biggest issues is simply the access and sharing of candidate and/or employee information. More HR data is now accessible by a larger stakeholder pool. HR personnel, managers, executives, and external service providers are privy to employee data. It is essential to establish strict access controls and protocols to ensure that only authorized individuals can access the data. Moreover, the sharing of employee data with external vendors or partners should be governed by clear policies and data protection agreements to protect employee privacy.
Data ethics guidelines and processes. How data is used by enterprises can come under great scrutiny if ethical guidelines are not instituted to prevent misuse or discrimination. Guidelines should begin with obtaining consent from employees to collect, use, and store their personal information. Similarly, enterprises should allow employees access to their information for review and correcting inaccuracies. As organizations integrate artificial intelligence tools into their HR solutions, an audit of algorithms should occur to prevent any biases.

HR technology is ushering in innovations that can truly transform and revolutionize the workplace and workforce strategies. However, the immense data generated can erode employee trust if not properly shared and protected. Compliance with privacy laws and regulations both in the U.S. and abroad is absolute. Equally critical is transparency with contingent and permanent employees around the collection, usage, and storage of data. Communicate that data privacy and individual rights are extremely important to the enterprise, as are cybersecurity measures.

Workforce analytics alongside other forms of intellectual property are competitive differentiators that enterprises must protect. Complacency is not an option in today’s data-driven world.

An Ode to the Future of Work

Business Leadership HR Talent Technology and Innovation by Andrew Bartolini on 03/28/2023

The Future of Work is a topic that has been discussed for by Ardent Partners for many years, particularly with technology rapidly evolving and transforming industries. Today, we offer a poem that takes a creative and fun approach to imagining what the future of how we work might look like.

With rhyming couplets and vivid imagery, we’ve tried to paint a picture of a world where AI machines take on mundane tasks, leaving more time for worker creativity and exploration. The idea of virtual offices and collaboration without borders adds a sense of excitement and wonder to the future of work as we envision a world where the limitations of physical space and language barriers no longer exist. Ultimately, the poem encourages us to embrace the future with open arms, as it holds endless possibilities for growth and innovation.

HR and Procurement Align for the Future of Work

Business Leadership Contingent Workforce General Insights HR Procurement Talent Talent Acquisition Technology and Innovation by John Yuva on 02/16/2023

It makes sense to assume that the ownership of Future of Work execution rests in the hands of HR executives. With much of the focus on total talent management and talent acquisition strategies, HR spearheads much of the decision-making in those areas. However, another business function also plays a critical role in the Future of Work paradigm — procurement. Shifts in global supply chain dynamics and the transition from cost- to value-based supplier management, means Chief Procurement Officers and their teams are well-positioned to support Future of Work initiatives.

Traditionally, procurement focused on cost savings in the supply base and was measured against those numbers annually. However, over time, CPOs realized the criticality of supplier relationships and the resulting innovations that enabled greater marketplace competitiveness. Rather than squeezing pennies from suppliers, the relationships evolved into collaborative, value-added partnerships.

With a value-based approach, procurement is positioned to lead and support various aspects of Future of Work strategies. Let’s look at what both procurement and HR core enterprise contributions entail, followed by how the two functions intersect to complement Future of Work initiatives.

Procurement Brings Cross-Functional Knowledge and Expertise

In terms of its enterprise reach, procurement is a cross-functional partner to many departments, managing critical supplier contracts and relationships. New product development activities, digital transformation initiatives, and strategic sourcing measures all involve procurement’s insight and expertise. What makes procurement such a valued partner is its enterprise knowledge and involvement. Whether it’s sourcing services and raw materials or overseeing essential negotiation, contracting, and payment processes, CPOs and their teams respond to the pulse of the organization.

Procurement also provides vital market intelligence around emerging trends and supply base resources. Enterprises are now always thinking about the next innovation and associated resources. Where do those concepts come from? Which suppliers are required to execute such initiatives? Who will manage these relationships to ensure the greatest value within the budget? What supply chain considerations must be addressed? All these questions involve procurement’s input and, in many cases, direct involvement and oversight.

HR Maintains Workplace Consistency and Execution

Human capital is the competitive differentiator for today’s enterprises. And the Future of Work movement represents one of, if not the most, transformative periods in HR’s history. HR executives must balance in-house, remote, and hybrid work models alongside the essential integration of the extended workforce and the technologies to streamline those processes. Visibility into total talent management is imperative to ensure the needed skillsets, not just a headcount, are accounted for and available. This is crucial to executing next-level innovative planning.

When it comes to talent acquisition and management, HR owns this responsibility within the organization. Establishing talent pipelines using direct sourcing, talent marketplaces, digital staffing, and talent communities contributes to best-in-class recruiting. Like procurement, relationship building with in-house and contingent workers plays a major role in talent intelligence.

It is also HR’s role to establish consistency regarding onboarding processes and policy guidance. Talent retention strategies begin during the candidate experience phase and continue throughout an employee’s tenure with the enterprise. Consistency in how HR policies are communicated and enforced is also important to retention goals and healthy employee well-being.

Intersection of Procurement and Human Resources

With the essence of procurement and human resources laid out, where do these two functions intersect to leverage their strengths with Future of Work initiatives? Several areas can benefit from procurement’s involvement, allowing HR to tightly focus on its core capabilities.

Sourcing expertise allows relationship building. Human resources rely on a vast supplier network for total talent management requirements. Procurement can lead the search and selection of a managed service provider (MSP), for example. Expertise with supplier selection and relationship management pays dividends when procurement leads this effort — cost awareness, contract management, payment efficiencies, and relationship building with the MSP and other vendors.

HR can then focus on talent strategy and building relationships with candidates, full-time employees, and contingent workers who are users of the technologies. Any functional issues are reported to procurement to address with the supplier. Procurement should also collaborate with IT to ensure recruitment and talent management applications and platforms (e.g., ATS and VMS) integrate well with the larger enterprise network.

A centralized, single-view supply base adds efficiencies. Centralizing the supply base by integrating HR’s suppliers provides procurement transparency into those vendors, leading to cost efficiencies in scale and scope, as well as providing consistency in supplier management. This strategy is particularly important for global enterprises where regional locations may contract for the same technologies with the same or different vendors.
Expand talent intelligence in the enterprise. For procurement to best serve HR in technology selection and supplier negotiations, CPOs and their teams must have workforce intelligence as part of those processes. Thus, collaborate with HR to understand the talent needs of the enterprise. Where are there gaps in specific departments? Are there major initiatives with vacancies in key roles? Does the organization need additional support for promotional or seasonal purposes. Procurement complements HR in this effort because of its cross-functional relationships and deep understanding of operations and ongoing product development. Leverage those relationships to glean insight into talent issues and where the organization could use support. Talent committees with representation from various business units can also transform talent intelligence into an enterprise-wide strategy.
Share risk mitigation responsibilities (and harness the collective power of artificial intelligence). A close collaboration between HR and procurement means sharing information to mitigate risk. Much of HR is technology driven — for example, utilizing digital platforms for total talent management/intelligence as well as Industry 4.0 technologies (e.g., artificial intelligence, machine learning, and predictive analytics) to anticipate potential workforce challenges. HR is becoming more proactive in assessing and planning against those risk scenarios. Procurement is also well-versed in the use and potential of AI and predictive analytics. Sharing how each department utilizes technology applications and platforms for risk mitigation is essential. Where do opportunities exist to further leverage AI to achieve talent management objectives? How far can predictive analytics provide mitigation against critical talent shortages or succession dilemmas? Imagine using a digital twin to simulate the workforce needs in the next decade. With both HR and procurement accountable for risk mitigation, it becomes an enterprise imperative that spreads across the organization.

Ultimately, HR and procurement need to deliver on enterprise objectives. HR must secure the talent to deliver competitive workforce outcomes, while procurement produces supplier results based on value-added solutions. Both HR and procurement have complementary goals and objectives that span the enterprise and supply base. It’s only natural that these two business units collaborate. Alignment is inevitable. Success is essential.

Welcome to the Future of Work in 2023

Business Leadership Contingent Workforce Technology and Innovation by Andrew Bartolini on 01/06/2023

Happy New Year!

At the behest of our rock star analyst, Christopher Dwyer (also our SVP of Research), Ardent Partners launched this site in the summer of 2021 to help HR, talent acquisition, procurement, IT, and finance executives understand the critical convergence of talent and innovation and the impact that the extended workforce has had and will have on business operations and bottom-line performance. I would argue that as we kick off the new year, nothing is more important to a business than understanding the Future of Work in 2023 and having the right strategies, tools, and approaches to manage it well.

The Future of Work in 2023 already looks very different from just a few years ago, driven by a few large trends that are discussed below.

AUTOMATION

One of the biggest drivers of change in the Future of Work is automation and the tools used to perform tasks that were previously done by humans. This can include everything from manufacturing and assembly line work to data entry and customer service. As automation is adopted and becomes more prevalent within the enterprise, efficiencies and perhaps more importantly, effectiveness, increase as staffers can spend more time on deeper strategic elements of their work.

With today’s growing extended workforce, enterprises need flexibility and scalability. Automation can bridge the various data points related to recruitment, onboarding, and payroll, allowing HR to focus on strategic workforce development and management planning. Through direct sourcing initiatives and automation, an enterprise can flex its extended workforce requirements quickly and efficiently, providing the necessary support before ramping down.

AI

Another significant trend in the Future of Work is the increasing use of artificial intelligence (AI). AI refers to the development of computer systems that can perform tasks that normally require human intelligence, such as learning, problem-solving, and decision-making. AI is already being used in a variety of industries, including healthcare, finance, and retail. We are in the early stages of an AI revolution, but this technology is almost certainly going to play an even larger role in the way we work, potentially leading to the creation of new job roles and a better understanding of how to staff the most successful teams and projects.

Of all the technologies available to enterprises that help automate key workforce processes, AI is the pure representation of the Future of Work. However, there are different shades of artificial intelligence helping organizations optimize the way they get work done and how they think about talent. It’s more than having an artificial persona to help figure things out and make decisions — instead, it’s enabling smarter decisions.

If bias can be removed from decision-making and technology, and AI is set up in such a way that there is no unconscious bias, then it is possible to understand how diverse the workforce truly is. The Future of Work Exchange has long said (including many years ago) that a diverse workforce is the deepest workforce. Being able to bring in different voices from different cultures allows businesses to be more innovative and think outside the box. And AI is a perfect conduit for that.

THE HYBRID WORKFORCE

In addition to automation and AI, the Future of Work is also likely to be influenced by the increasing popularity of remote work and flexible scheduling. With the advancement of communication technologies such as video conferencing and project management software, it is becoming easier for employees to work from anywhere in the world. This trend is being driven by a variety of factors, including the desire for work-life balance, the need for companies to access a global talent pool, and the cost savings associated with remote work.

Progressive companies realize the importance of hybrid work options for employees. While compensation remains a major factor when accepting a job offer, it is benefits such as hybrid work that are attracting more job candidates. Hybrid work models are also contributing to healthy employee well-being and mental health — both of which can have a significant impact on the bottom line. A hybrid workforce makes healthy sense to workers and fiscal sense to the enterprise.

SUMMARY

As technology continues to advance at an unprecedented pace, Ardent Partners expects to see significant changes to the way we will work in the coming years. Whether it is through upskilling and retraining or embracing new technologies, the key to success in the Future of Work will be adaptability and a willingness to embrace change — namely automation, artificial intelligence, remote work, and flexible scheduling.

And, as the Future of Work continues to evolve, it is important for both individuals and companies to stay abreast of these trends and to be proactive in preparing for the changes that are likely to come. That’s where THE FUTURE OF WORK EXCHANGE site comes into the picture — if you haven’t already, bookmark this site and make it a regular stop as you pursue your workforce goals and objectives in 2023 and drive to become a Best-in-Class operation.

“Being Thankful” Means Something Different This Year

Business Leadership by Christopher J. Dwyer on 11/22/2022

We hear the phrase so many times at this point in the year, with Thanksgiving only a couple of days away: “I’m thankful for [something, someone, etc.].” We all have specific things in our lives that we are thankful for: our families, our friends, our loved ones. This year is no different: entering Year Four of a disruptive pandemic, that, while no longer in its “emergency phase,” still causes concern, we are all certainly thankful for our health and the wellbeing of those in our families, our social networks, and within our network of peers and colleagues.

In 2022, however, being thankful means something different…or, at least, should mean something different.

It’s sometimes incredibly difficult to separate “work” from “personal” life, with so many of us experiencing our career paths intertwining with the everyday routines at home. However, there is an aura to our lives today that is not only different from just a few years ago, but significantly different than it has been in decades.

We’re living in a new world of work, and, the keyword there (“living”) means that work in and of itself isn’t just a place we go for eight hours a day, but rather something that defines us as people. At the core, we are humans. And, many of us express ourselves in terms of the work we do and the skills that we have attained.

While it isn’t always healthy, there are many, many professionals that entwine their careers and personal lives in such a way that there is sometimes a vast difficulty in separating the two. This, however, is the nature of how we work today. We are always “on.” We are very frequently consumed by the content in our fields, craving information, news, and insights through social networks and communication with those within our industries.

Thus, this year, “being thankful” takes on a much different meaning, one that revolves around the concept of flexibility and the notion that we are living in a world of innovation and evolution.

Let’s be thankful that we have firmly moved into an era when remote work and hybrid workplaces are an accepted and widely-adopted means of getting work done. Let’s be thankful for those business leaders that have cultivated flexible workplace environments that rely on remote work as a viable option for their workforce.

Let’s be thankful that worker empowerment is perhaps the strongest it has ever been, with The Great Resignation giving us so much more than unhappy professionals by providing workers with the strength to stand up for themselves and each other for better working conditions, more flexibility in the workplace, and so much more.

Let’s be thankful for those business leaders preaching and practicing the art of conscious leadership. Let’s be thankful for executives and managers that lead with empathy, compassion, and understanding. Let’s be thankful to leaders that show appreciation and mentor those that they manage and work with on a daily basis.

Let’s be thankful for the folks across the workforce spectrum that are actively promoting diversity, equity, and inclusion, who are striving for a more diverse workforce, more diverse talent communities, and diversity-centric hiring and talent acquisition. Let’s be thankful to those business leaders that have created and will continue to create truly inclusive workplace environments and do what they can to develop a vibrant workplace culture that reflects positive values. And let’s be thankful for those business professionals that consistently support, lobby for, and devote time and resources to equal pay initiatives, deeper collaboration, and vibrant discussions regarding DE&I.

Let’s be thankful for the technology that has helped us transform the ways we leverage talent, engage workers, and ultimately get work done. Let’s be thankful for the solution providers that consistently innovate and provide enterprises with agile automation, next-generation analytics, workforce intelligence, and progressive functionality. Let’s be thankful for the platforms that have pushed direct sourcing into new and exciting territory, and let’s be thankful for the providers that are actively embracing the Future of Work movement.

And, finally, let’s be thankful for those that think outside of the box and desire to push the envelope. Let’s be thankful for those that helped transform the ways we work. Let’s be thankful for those individuals that regard “work” as needing to be more human-centric. And let’s be thankful for everyone that believes that the Future of Work movement is how we move forward into the next great era of business history.

The First Thing You Must Know About the Future of Work

Business Leadership Contingent Workforce Direct Sourcing Events General Insights Talent Talent Acquisition Technology and Innovation by John Yuva on 10/17/2022

The Future of Work Exchange (FOWX) and Ardent Partners recently hosted their complimentary webinar, The Five Things You MUST KNOW About the Future of Work, which discussed the critical capabilities that enterprises can unlock to truly optimize the way they address talent acquisition, extended workforce management, and, most importantly, work optimization. Over the next five weeks, we’ll be recapping each of the five things discussed during the event. In our first installment this week, we’ll be diving into the evolution of talent and the ever-present phrase, “The Future of Work.”

The Evolution of Talent and Talent Acquisition

When it comes to the Future of Work, one of the first things to know is the evolution of talent and talent acquisition. And this idea of the “evolution of talent” can be ambiguous. Talent is always evolving and has been for a long time. The way that businesses perceive their talent is also evolving. And, the way that those businesses get connected to talent, and vice versa, continues to evolve. It’s also being innovated through technology and new strategies and new programs.

The fact is nearly half of our workforce today is comprised of extended workers or contingent workers. We have aspects like direct sourcing and digital staffing that are making it much easier for businesses to find the talent they need to get work done to address those mission-critical projects and fill the appropriate roles. FOWX and Ardent research has been focused historically on the extended workforce and contingent workforce, but we’re talking about all types of talent.

Thus, talent acquisition as a function and as a series of processes has also progressed. We need to consider aspects like the candidate experience, and the way that our culture and our brand attract new talent into our organization. Many business leaders think of the Future of Work as being centered around technology, revolving around the idea that technology drives the Future of Work. And we wouldn’t necessarily disagree with that; technology is a critical piece. And for some aspects and attributes of the Future of Work, technology and innovation are the nexus of those areas.

Technology is a Future of Work Centerpiece

Talent and the growth of the extended workforce represent the first leg of the stool with such things as diversity and candidate experience, but also digital staffing, direct sourcing, online talent marketplaces, and core workforce management solutions (such as MSPs and VMS platforms) These technologies are helping us to redefine the way we think about work. We’re living in a world where even though we don’t want to hear the word “pandemic” anymore, the pandemic really did shape what we think about the Future of Work.

It’s really critical to think about aspects like remote work and the technologies that support a hybrid workplace and how we leverage digital workspaces, digitization, and the idea of the digital enterprise, all rolling up into this notion of digital transformation. New technology and innovation are not the totality of the Future of Work, but certainly a centerpiece of it. And when we look at the transformation of business leadership, we often juxtapose this with business transformation or business leadership transformation, as well. It is leadership that dictates strategy, it dictates vision, and it dictates culture. And by proxy, we transform the way business leadership manages itself, manages its workforce, and how it expands its power and control over the organization.

Thus, the transparent transformation of business leadership is really critical, and honestly has nothing to do with technology. It all revolves around aspects like conscious leadership, empathetic leadership, empathy at work, and flexibility — thinking about how we lead in very new and different ways. It’s turning on its head the idea that “the boss” is always this very strict person who’s known for rigidity in how he or she perceives and manages the workforce. Business leaders are transitioning to be more flexible in their thinking. When you combine all these aspects together, that’s the future of work and the view of the Future of Work Exchange and Ardent Partners as well.

Ever-Present Future of Work

Thus, the “Future of Work” phrase is ever-present. It’s everywhere. Back when our FOWX architect, Christopher J. Dwyer, started using this phrase in 2013/2014, there weren’t many others using it. Today, we see so many conferences named “The Future of Work” as well as many websites and research studies. But unlike a lot of phrases that are hot today, it’s anything but hype. It really is this idea of permanence. Much of the change that we’ve gone through as people, as leaders, as workers, and as businesses, it’s not hype…nor is it a fad. The Future of Work is permanence. It’s not going to fade from view.

Future of Work “accelerants” that were once seedlings to the world of work and talent are now table stakes. Remote work, for example, is not new. Many of us have been working in a remote or hybrid workplace for most of our careers. And there are many others who have done so, as well. But for some business leaders and workers, it’s a very new aspect of their daily work lives.

The “Future of Work” phrase is ubiquitous. It’s an omnipresent way of looking at the current and future state of work. We are now focused on how we can improve the way we get work done, the way we manage talent, the way we engage talent, and the way that we treat our workforce. But we’re also thinking about tomorrow and the ways we’re going to get work done depending on several factors, including the economy, politics, global markets, and other aspects that could change the business arena.

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

Contingent Workforce Solution Providers Talent by Christopher J. Dwyer on 08/19/2021

[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.)

Contingent Workforce Weekly, Episode 602: The Link Between the Future of the Workforce and the Future of the Workplace

Podcast by Christopher J. Dwyer on 07/22/2021

An all-new edition of the Contingent Workforce Weekly episode, sponsored by DZConneX, a Yoh company, features a discussion around the “future of the workforce” and its link to the “future of the workplace.” As more and more businesses plan a return to the office, an even larger number of workers are seeking flexibility, empathy, and agility. While a silent labor epidemic rages (the United States has never recorded so many resignations and jobs quit in a single month before this past May), business leaders must leverage the next several months to better understand the proper work model for both productive enterprises outcomes and its workforce.

Tune into Episode 602 of Contingent Workforce Weekly below, or subscribe on Apple Music, Spotify, Stitcher, or iHeartRadio.

Preparing for Tomorrow’s Workforce

Contingent Workforce HR Talent by Featured Contributor on 07/21/2021

[Editor’s Note: Today’s article is a guest contribution from Neha Goel, Vice President of Marketing at Utmost.]

Tomorrow’s workforce is changing at a pace we have not experienced in past decades. The pandemic expedited what was already happening in the market: emerging technologies leading to automation and digital transformations; the desire for flexibility in how and where people work; a focus on diversity, equity, and inclusion (DE&I); and globalization. It’s become clear organizations require a shift in how they think about and manage their entire workforce.

The Future of Work, which Ardent Partners defines as work optimization via the transformation of business operations, talent usage, seamless and comprehensive workforce management solutions, and flexible enterprise thinking, requires a change in how companies are tracking, managing, accessing, engaging, and reporting (i.e., spend, worker type, performance) on talent at an enterprise level.

Disparate systems make it difficult for companies to have visibility into their entire workforce. Even if an organization has a vendor management system (VMS) to track their contingent labor, they support as little as 10% of the total external workforce, which is now made up of project-based workers, freelancers, independent contractors, gig workers, and outsourced resources not captured in a VMS.

The Time is Now

As the non-employee utilization rate nears half of the total workforce (nearly 47% of the total workforce, according to Ardent), and more than 80% of large corporations planning on substantially increasing their use of a flexible workforce in the coming years, the time to prepare is now. The fastest-growing part of the workforce is the one that is currently not being tracked, which poses huge challenges for organizations.

This impacts activities like on/offboarding, classification, tenure, performance, payment, and reporting if only a portion of your total workforce is captured in your current ERP, VMS, and project-management tools. More importantly, it becomes impossible to assess and engage your total workforce in a scalable way without a single system of truth.

The Workforce is Changing

By 2025, 75% of the workforce will be made up of millennials — the most diverse group in American history, with 44.2% identifying as “non-white.” This should be a wake-up call for organizations who are not putting their DE&I initiatives at the top of their priority list. Having a platform that allows organizations to easily access, attract, retain, and report on diversity measures to meet their goals is crucial.

Millennials are also the first “digitally-native generation,” according to Pew Research, which means they expect to interact with work in the same way they interact in other aspects of their lives like ordering meals, rides, movies, and other services. They are demanding flexibility, engagement, diversity, career advancement, and a cultural fit regardless of how they are employed — be it full-time or contingent.

Future-Proof Technology

Together, all of these factors require organizations implement a technology platform built for the extended workforce. This can mean anything from connecting to new sourcing channels in an agile way to configurable back-end processes to managing distributed teams in a worker-centric way.

Utmost helps organizations fully engage and optimize their entire extended workforce. Built as a native application on the Workday Cloud Platform, Utmost provides a seamless experience for Workday customers to gain full visibility into their changing workforce composition, quality, and spend in an agile and scalable manner.

We believe the Future of Work is getting “the most from your all,” meaning the enterprise is getting the most out of its workforce, and talent has all the tools in place from their employer to bring their best selves to work. We believe this combination will set organizations, and their most significant competitive advantage, their talent, up for success.

Welcome to the Future of Work Exchange (FOWX)!

General Insights Talent by Christopher J. Dwyer on 07/15/2021

Ladies and gentlemen, Welcome to the Future of Work Exchange!

This site is the culmination of decades of time spent researching and developing the strategies, tools, characteristics, and attributes that have come to define the Future of Work movement, including talent, technology, and business leadership. Powered by global research firm Ardent Partners, FOWX is a first-of-its-kind destination for HR, talent acquisition, procurement, IT, and finance executives focused on the convergence of talent and innovation and the impact that the extended workforce has on business operations and bottom-line performance. FOWX aims to help executive leaders across all enterprise functions optimize how work is done, build the best talent management strategies and programs, and understand the complex technology landscape.

Ardent Partners defines the Future of Work as the strategic optimization of how work gets done through 1) the evolution of talent engagement, 2) the advent of new technology and innovative tools, and 3) the transformation of business standards. Businesses across the globe believe that many significant Future of Work shifts will force them to reevaluate their current work standards, policies, and general practices. All aspects of the Future of Work Exchange will touch upon these ideas and assist business leaders become truly agile and dynamic organizations.

Over the coming years, community members can expect a non-stop stream of great content from our team (and guest contributors) on topics such as digital staffing, remote work and hybrid work models, contingent workforce management, blockchain, artificial intelligence, diversity and inclusion, empathy-led business leadership, direct sourcing, and much more. Our groundbreaking Contingent Workforce Weekly podcast will also be simulcast here on the FOWX.

This September, we will more formally launch the site and introduce a host multimedia assets on the “Exchange,” including exclusive research, conversations with HR, talent acquisition, procurement, etc. leaders that are challenging the status quo and advancing the Future of Work movement, as well as technology leaders that bring a wealth of insights to the evolving world of work.

The Future of Work Starts Here!