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How Do We Define Direct Sourcing in 2024?

Uncategorized by Christopher J. Dwyer on 01/08/2024

In the realm of workforce management, the concept of direct sourcing has not escaped the fervor of its own hype machine. The question persists, though: what defines direct sourcing? What is its true “reality”? What “state” is direct sourcing in today, given the evolution of talent acquisition and extended workforce management?

There is no easy answer, unfortunately. The most interesting facet regarding direct sourcing is that the industry has not yet settled on a true definition; much like contingent workforce programs can be called such without a drop of automation or third-party support, direct sourcing often falls into the same spectrum. Even without a VMS, extended workforce platform, or MSP in place, businesses can state that their non-employee workforce programs are tried-and-true (and “end-to-end”) even in cases where additional attributes, particularly services procurement and SOW management, aren’t considered part of the overall initiative.

Misconceptions surrounding direct sourcing often center on the intricacies of its implementation and the true characterization of what qualifies as genuine “direct sourcing.” Does an enterprise curating its talent internally and channeling candidates into a talent pool truly embody direct sourcing as a core workforce strategy? To discern the essence of direct sourcing, we must explore its full spectrum, including segmentation, integration into primary recruitment streams, and the facilitation of talent nurture capabilities — which is where the question arises: is automation indispensable for it to be deemed a true, end-to-end program? Do enterprises require deeper talent technology stacks to ensure direct sourcing meets its potential as a talent acquisition gamechanger?

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Upwork’s VMS Partnership Strategy and the Future of Digital Staffing

Contingent Workforce Solution Providers Technology and Innovation by Christopher J. Dwyer on 12/12/2023

The realm of digital staffing has been quite robust over the past several years, with Ardent Partners and Future of Work Exchange research pegging the growth of these solutions (which includes talent marketplaces and freelancer networks) at 700% since 2017. And it’s easy to see why: businesses must leverage dynamic talent solutions (and sources!) to engage top-tier candidates in real-time to succeed and thrive in an increasingly competitive and frenetic global business environment.

The concept of “omni-channel talent acquisition” has become table stakes for businesses seeking to thrive in these uneven economic times that are compounded by fierce, global competition from enterprises across the world. No longer do traditional staffing strategies drive enough value for those organizations seeking top-tier talent; the very underlying attributes of omni-channel talent acquisition are threaded within a larger, more expansive approach towards talent engagement that traverses beyond archaic measures.

Platforms such as direct sourcing solutions, talent marketplaces, freelancer networks, and digital staffing outlets are the very foundation of omni-channel talent acquisition. However, leveraging these sources on top of everyday talent engagement methods is just one piece of a larger, more dynamic puzzle; in order for businesses to truly derive next-generation value from expanded talent sources, they require connections between both omni-channel sources and their core systems of record.

Work marketplace market leader Upwork, oft-considered the largest provider of digital staffing technology, recently announced two unique partnerships with major VMS players.

“We’re thrilled to have announced the first of many partnerships with leading VMS and MSPs, with the initial two being SAP Fieldglass and FlexTrack,” said Matt Ryan, Upwork’s VP of Enterprise Solutions. “The partnerships are truly strategic and offer significant advantages to our enterprise customers. Our integration with VMS ensures a highly efficient and effective hiring process and enables businesses to manage on-demand talent effortlessly within their existing workforce structures.”

The new collaborations with SAP Fieldglass and FlexTrack offer a holistic solution for seamlessly sourcing and hiring expert independent talent, and, by integrating Upwork’s global network of skilled professionals with these cutting-edge VMS platforms, enterprise customers can directly access a talent pool spanning over 10,000 skills in more than 180 countries. This integration centralizes workforce management, onboarding, and payments, simplifying processes within existing workflows. Furthermore, the VMS partnerships mitigate risks associated with hiring outside established procurement processes, providing comprehensive control and reducing redundant approvals and hiring workflows.

“Our customers and many leaders recognize the challenges and importance of navigating an intricate web of diverse tools and platforms. Our goal is to help them further engineer an agile, dynamic workforce strategy, providing an end-to-end solution to seamlessly integrate diverse talent, optimize operations, and stay ahead in today’s environment,” said Ryan.

The innovation behind Upwork’s partnerships (and integrations) with SAP Fieldglass and FlexTrack represent the veritable future of not just digital staffing, but talent acquisition, as well. As the extended workforce continues to grow in both size and prominence (Ardent Partners and Future of Work Exchange research peg the penetration of this labor at 49.5% of the overall workforce), enterprises will require real-time, dynamic tools to enhance the overall lifecycle of talent management.

“Navigating the path to enterprise success has become increasingly intricate, and the imperative to grow the top and bottom lines while keeping pace on the competitive landscape remains as urgent as ever,” said Zoë Diamadi, Upwork’s general manager of Enterprise. “This is just the beginning of the partnerships and powerful integration capabilities we plan to introduce, and we remain dedicated to providing solutions that our customers and businesses need in navigating the ever-evolving landscape of work.”

FOWX Notes, December 1 Edition

Business Leadership Solution Providers Technology and Innovation by Christopher J. Dwyer on 12/01/2023

News and happenings from around the greater world of work and talent:

Industrial staffing platform Employbridge hires Chris Campbell as its new Chief Product Officer. The trailblazing workforce solution, which is powered by leading digital staffing platform Bluecrew, hired the former Angi and Workhuman executive as its latest high-profile addition. Campbell will oversee the company’s continued growth and evolution. “The HCM platform ecosystem has traditionally been considered the exclusive realm of pure-play technology companies, and we’re on a quest to turn that notion on its head,” Campbell told the Future of Work Exchange. “With the acquisition and integration of Bluecrew, and a Best-in-Class software engineering and product management team working together to advance our purpose, we have a massive opportunity to not only unlock potential for every constituency that we serve but also to redefine the future of work in a way that works for everyone. What happens when you combine thirty years of deeply entrenched and locally-led expertise, national scale and influence, and a fully extensible SaaS platform that materially improves the lives of talent and clients? Let’s find out.”
Extended workforce platform Beeline announces its innovative “Beeline Supplier Network.” The new offering is a forward-thinking solution designed to enhance collaboration, efficiency, and visibility in managing contingent labor across organizations, and was developed to serve as a marketplace and resource hub, providing tools for suppliers to showcase their capabilities, promote differentiators, and access valuable business tools, ultimately facilitating easier consideration for admittance in extended workforce programs. “I am incredibly excited about the recent launch of our Supplier Network,” said Brian Hoffmeyer, the company’s SVP of Market Strategies. “It is a direct reflection of Beeline’s extended workforce platform strategy and will help buyers and suppliers better connect and collaborate to find and engage top-tier, high-quality talent.”
Multifaceted workforce management solution Ceipal adds new Chief Marketing Officer, Andy Weiss, to its team. The total talent management platform, which blends ATS, CRM, and VMS functionality under a seamless umbrella of offerings, recently added Weiss to its executive team. “I’m thrilled to bring Ceipal’s innovative staffing and recruiting technology to our valued clients and potential customers,” said Weiss. “Our mission from the start has been simplifying the work of recruiters, staffing experts, system integrators, and MSPs. Now, we’re taking it a step further. Our AI isn’t just an add-on; it’s embedded into daily workflows, making routine tasks better, faster, and smarter. Ceipal is growing fast. I can’t wait to see what we bring to the market next.”
ServiceNow and AWS announce a strategic partnership to integrate artificial intelligence (AI) capabilities into business applications. This collaboration aims to leverage AWS’s machine learning services to enhance ServiceNow’s platform, offering users advanced AI-driven functionalities for improved business processes.
Former Paychex CFO Efrain Rivera joins Magnit’s Board of Directors. With his extensive experience in finance and strategic leadership, Rivera is expected to contribute significantly to Magnit’s growth and development initiatives as the industry giant continues to innovate around its array of extended workforce solutions.
While jobless claims increased slightly by 7,000 to 218,000 last week, the overall number of individuals in the U.S. collecting unemployment benefits reached its highest level in two years. Totaling 1.93 million in the week ending Nov. 18, the stat is the highest it has been since late 2021. The rise in continuing unemployment claims may indicate challenges for those already unemployed in finding new work, signaling some softness in the otherwise resilient labor market amid slowing hiring and fewer job openings.

The Future of Work 2024

Events by Christopher J. Dwyer on 11/29/2023

It’s that time of year when we begin to reflect on the year that was and look ahead. For the Future of Work movement, that means we have the opportunity to chat about some of the hard-hitting concepts that have revolutionized the ways we think about work…while anticipating the transformative trends that will shape 2024.

The Future of Work Exchange is incredibly excited to host our final webcast of the year, The Future of Work 2024: Transformative Trends That Will Shape The Year Ahead, featuring an all-star lineup of panelists. I’ll be joined by Lori Hock (CEO of Opptly), Teresa Creech (Chief Corporate Development Officer at Beeline), and Amy Doyle (Global Leader, SVP at Talent Solutions TAPFIN) for a fun and engaging discussion on the technologies, solutions, strategies, and innovations that impacted 2023 and how concepts such as direct sourcing, artificial intelligence, digital recruitment, and extended workforce management will impact how businesses optimize talent and work in 2024 (and beyond).

A New Era of Innovation, Part VI: The The Future of Workforce Technology

Solution Providers Technology and Innovation by Christopher J. Dwyer on 10/03/2023

Over the past several weeks, the Future of Work Exchange has showcased a series of articles dedicated to the latest wave of innovation in the realm of technology associated with the Future of Work movement. This special feature series shone a spotlight on trailblazing providers who are not only transforming the methods by which businesses discover, engage, acquire, and oversee talent but also on how they harness this talent to enhance their work processes.

With advancements in areas like direct talent acquisition, digital staffing, Vendor Management Systems (VMS), extended workforce management, total talent management, and Managed Service Provider (MSP)-led services, the field of workforce solutions has emerged as a revolutionary influence in the contemporary business landscape. Its nimbleness empowers companies to stay at the forefront of change, its adaptability aligns with the shifting nature of work, and its relentless pursuit of innovation consistently reshapes the terrain of talent acquisition and management.

As businesses continue to navigate the ever-evolving landscape of talent, the workforce solutions industry remains an essential catalyst for success, providing the essential tools and strategies necessary to thrive in an increasingly competitive environment. Today, we introduce four additional solutions that epitomize this new era of innovation.

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

Solution Providers Technology and Innovation by Christopher J. Dwyer on 09/25/2023

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.

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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 07/31/2023

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.

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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 07/24/2023

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.

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Next-Generation Services Procurement: Data-Driven and Optimized for the Future of Work

Contingent Workforce Procurement Talent Acquisition by Christopher J. Dwyer on 04/26/2023

Ardent Partners and Future of Work Exchange research has long pointed to services procurement (and SOW-based projects and services) as the “next frontier” for contingent workforce management. Comprising upwards of 50%-to-60% (or more!) of the average organization’s total external workforce spending, services procurement remains a prime opportunity for businesses to drive savings, improve visibility, and, most importantly, reshape how work is done.

In a new research study underwritten by Magnit and developed by Ardent Partners and the Future of Work Exchange, we have unveiled some new strategies that can assist enterprises in augmenting services procurement in a Future of Work era:

The large cost savings opportunities that exist for most enterprises in services procurement and the management of SOW-based services make it the next, big frontier for leaders of the extended workforce to tackle. However, a general lack of rigor, combined with issues such as globalization and uncertain economic times, are limiting business leaders’ ability to approach this complex area of spend in a more transformational way.

For enterprises to reimagine the approach to services procurement, they must follow a new model that blends Future of Work accelerants, dynamic data and intelligence, real-time automation, next-generation workforce management technology, and a willingness to adapt and adopt agile solutions.

This Ardent Partners and Future of Work Exchange research report will discuss how businesses can transform their services procurement and SOW (“Statement of Work”) management programs by (1) modifying buying behavior with advanced automation, controls, and data, and (2) developing an impactful initiative that leverages expert services and solutions.

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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.