Innovation is the Name of the Game as it Relates to the Contingent Workforce | DCR Workforce Blog

Innovation is the Name of the Game as it Relates to the Contingent Workforce

The contingent workforce model has come a long way from days when they were looked upon as substitute workers when permanent workers go on leave or quit before a replacement could be hired. Innovation is the name of the game as organizations today explore new and innovative ways to leverage contingent workers to meet their worker requirements and create innovative relationships with them that don’t fit the traditional definition of employment.

Information technology has given a great boost to this innovative approach by changing the way we do things and changing business models and service delivery models. We’re also seeing continuing innovation in the technologies that support the use of contingent workforce programs.

Employment relationships aren’t the same-old, same-old

Contract work is ubiquitous these days, with the workers taking jobs that require niche skills as well as jobs that need them to cut hair, drive taxis, design clothes or jewelry, sell handicrafts or offer accommodation to paying guests. Other jobs may require using technology to provide feedback, market concepts, edit/proof content or offer voluntary assistance in research projects. You could be a top honcho or a nuclear outage expert, a doctor or a software programmer fixing the code on an open source program. Online gig work is growing extremely fast with Uber drivers representing up to two-thirds of all online gig work.

It isn’t the same-old, same-old that your parents thought of as “temporary” work. It now has many faces:

  • While numerous gigs are found online, offline gigs are also popular, as witnessed by the fact that offline gig workers far outnumber offline traditional workers.
  • Women, college graduates, older workers and Hispanics are all a part of the gig economy, with many turning multiple jobs.
  • Alternative work is more common among older workers and more highly educated workers, with the largest number of workers in alternative arrangements being found in sales, along with several other occupations.
  • Technological changes that lead to enhanced monitoring, standardize job tasks and make information on worker reputation more widely available.

Technology is being effectively used to ensure increased monitoring of remote workers and to standardize job tasks. Companies are focused on creating jobs that allow workers to set their own schedules, execute work from a remote location and enjoy the freedom to be paid for the work they perform instead of the amount of hours racked up at the workplace.

Vendor Management Systems wow their users with advanced functions

From supporting contingent workforce programs and helping to provide visibility into spend on the program and call out any maverick spend, Vendor Management Systems (VMS) have come a long way to provide many innovative functionalities aimed at wowing their users. Let’s take a look at the features that have been steadily added on by the VMS vendors, whose teams are highly innovative creative thinkers, dedicated to exceeding customer expectations.

To reap innovation, one must encourage it, measure it when it happens and reward it so that more people are encouraged to follow the path. A VMS vendor who is focused on innovation such as DCR can only offer an innovative VMS such as Smart Track with features and capabilities described below:

  • Tracking and measuring supplier performance to rank according to the results they bring in, and offer repeat business and better opportunities to the suppliers who meet expectations or exceed them.
  • Predict how many workers you will need in 2017. Tell you how many of them will need to come in as full time employees, how many as contract workers and how many as independent contractors. SmartTrack offers a dashboard that uses predictive analytics feature to forecast all such details.
  • If you find that your adoption of a Vendor Management System is not going to plan, as your teams are refusing to make use of it, you don’t need to get all punitive and make its use mandatory and set processes to call out anyone who refuses to toe the line! SmartTrack offers gamification which makes its adoption exciting to the teams.
  • If your industry has specific needs and challenges that are unique, you will find that SmartTrack is tailored to meet those needs and make your life easier.
  • SmartTrack helps you retain your contact with the contingent workers even after the end of their tenure, and help to maintain your access to the talent marketplace using a networking feature called Smart Track XCHANGE.
  • Smart Track helps you manage your Statement of Work projects, from end to end, starting with the RFP process to milestone compliance, from onboarding to offboarding and it also handles payments tied to milestones, time-and-material, fixed-price or fixed-deliverables. For global businesses, it can be effortlessly configured to handle multiple languages, currencies, time zones and date formats.
  • If your company has diversity goals to be met, Smart Track will help you track your performance on an ongoing basis.
  • If you are scheduling your workers for overtime, Smart Track will mitigate risk by flagging anyone in a critical role, whose alertness and performance could be affected by fatigue.

Does your VMS offer you any of these features? If not, it’s time to look into how Smart Track can help you not just manage your spend, but give you a look into your future needs as well. Call us at 1-888-DCR-4VMS to schedule a demo.


Disclaimer:
The content on this blog is for informational purposes only and cannot be construed as specific legal advice or as a substitute for competent legal advice. They reflect the opinions of DCR Workforce and may not reflect the opinions of any individual attorney. Do contact an attorney for advice specific to your issue or problem.
Lalita is a people/project manager with extensive experience in operations, HCM and training and development across industries like banking, education, business consulting, BPO and information technology. She believes in a dynamic approach to life and learning as change is the only constant.