How to Maximize Contingent Workforce Data

PRO UnlimitedBy PRO Unlimited 7 months ago
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PRO Unlimited’s VP of Strategy, Analytics, and Metrics Dustin Burgess was tapped by the Sourcing Industry Group to share his expertise on how to maximize contingent workforce data.

Dustin emphasizes that as companies are implementing and managing contingent labor programs, Human Resource professionals will want to capture and harness data and analytics to make critical decisions about where, when, who, and how to employ contract talent.

Additionally, it is critical that HR access the kind of talent that will allow them to drive value from the data, in the form of new solutions and actionable plans. Therefore,  it is important for managers to identify individuals within their organizations, or key business partners that have the ability and expertise to extract these meaningful insights. In order to illustrate what this looks like, check out the following case studies to learn about the benefits of using analytics in your contingent workforce program.

Contingent Workforce Data: A Look at Three Case Studies

  • Recently, a large utility company was able to leverage their contingent worker data to help them facilitate the decision-making process on when to renew, release, replace, or re-deploy contingent workers. By understanding what known resources were going to be available, they were able to look at both objective and subjective data points to evaluate each worker’s performance to determine if they should retain them. They looked at enterprise-wide data to identify where the organization’s biggest talent deficits existed, and in many cases, relocated these workers to new areas without having to utilize recruiting channels. In cases where they elected to re-source a position, they leveraged data on their recruiting processes to determine when to start sourcing and where to look for talent. The ability to make decisions from the data saved this company hard dollars that would have gone to recruiters as well as time-savings for the managers and talent acquisition.
  • Another example of how to maximize workforce data relates to holistic workforce management otherwise known as “Total Talent Solutions”. Total Talent Solutions is a term in the contingent workforce industry that is garnering a lot of attention as companies look to optimize their workforce. The idea is that a company can use one platform to monitor and evaluate their entire workforce including permanent and non-permanent employees of all engagement types. While the idea is a good one, the execution of tangible business results in this area has been extremely disappointing to date. Most companies either lack the access to the data, the expertise, and understanding of how to measure and track the contingent workforce, or the ability to execute both. However, some organizations have been able to make tremendous leaps in their ability to leverage internal and external data sets to drive actionable insights for their entire workforce. A global technology company recently married their employee and non-employee data, enabling them to see across their entire workforce, understand costs associated with different worker engagement types, determine where their talent pipelines were best suited to fulfill their talent deficits, and where their physical office locations would support additional headcount. This helped their HR, talent acquisition, facilities, and workforce planning departments to be more proactive. It also resulted in significant operational and strategic wins. For example, at PRO, we have helped clients develop a “pricing curve” that included different types of worker engagements (from premium consultants on high side through project workers, staffing workers, independent contractors, full time, and payroll) to educate and assist managers with hiring decisions. The use of this data and consulting services also enabled their workforce planning department to include accurate budgets of all worker types in their OPEX budgets for the first time in company history, which was lauded by management.
  • A third example focuses on a pharmaceutical giant that was having difficulty attracting and retaining top-tier talent within one of the U.S.’s most highly-competitive markets. In order to better understand the experience from the view of their workforce, they leveraged publicly-available data, a variety of specifically-targeted internal data points (including data points that analyzed employer ratings on Glassdoor, as well as highly-customized surveys delivered directly to their workforce). Feedback during the talent acquisition and worker termination process was also included in the analysis to compile and summarize how they were being viewed by different types of workers. They were also able to understand why their workers were leaving the company, or why they were staying. This information was critical as the enterprise was able to take advantage of it to make changes to their worker policies and to create new brand awareness campaigns. Within a short period of time, the company realized improvement in the number and quality of candidates, as well as an uptick in their overall retention numbers.

Read the full article here. 

If you or a member of your team would benefit from a further discussion on how PRO is helping companies implement winning contingent workforce management programs and data analytics globally, please contact a PRO representative at 800.291.1099 or email at info@prounlimited.com.

Disclaimer: The content in this blog post is for informational purposes only and cannot be construed as specific legal advice or as a substitute for legal advice. The blog post reflects the opinion of PRO Unlimited and is not to be construed as legal solutions and positions. Contact an attorney for specific advice and guidance for specific issues or questions.

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  Best PracticesWorkforce Management
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