These days, there seems to be a supplier for just about everything. If your organization has identified a need, chances are a company exists to help fulfill it. Sourcing contingent labor is no exception. In fact, approximately 88% of enterprises source contingent labor from traditional staffing suppliers/agencies (Ardent Partners). Today, this demand supports roughly 17,000 staffing and recruiting companies in the U.S. alone, according to the American Staffing Association.
Assuming your company falls in the 88% of enterprises sourcing contingent labor from as many as hundreds of available suppliers, how do you know if you’re effectively managing your supplier program and maximizing your returns? Continue reading
Amateur and professional critics love to talk about when a TV show “jumps the shark.” The idiom refers to the point when a television series runs out of ideas and resorts to stunts in an attempt to retain viewer interest. It’s derived from a scene later in the Happy Days run, when The Fonz waterskies over a shark.
Contingent workforce management (CWM) programs have to similarly stay fresh to succeed. Not by guessing what might work or taking risks like The Fonz. But rather, by adopting industry best practices and proven technologies that will ensure ongoing program ROI and much-needed controls. Continue reading
At a recent conference hosted by BlackLine, provider of controls and automation software for the Financial Services industry, research revealed that only 68% of CEOs said their CFOs were “up to the challenge”. Of course, there was no inquiry about whether they understood ‘the challenge’ and, in fact, what that challenge may be is yet to be seen. Let’s assume for a moment that CEOs haven’t employed the wrong talent; what then is causing CFOs to be ill-equipped to meet “the challenge”?
CFOs have a complex portfolio of responsibilities. The UK’s International Federation of Accountants (IFAC) notes that “CFOs are expected to increase their support of strategic and operational decision making in a ‘business partnering’ capacity in addition to fulfilling traditional stewardship responsibilities relating to governance, compliance and control, and business ethics.” That’s quite a task.
Each year, thousands of motor racing enthusiasts arrive on Pikes Peak, located an hour from IQNavigator’s headquarters for the annual Race to the Clouds. The Race to the Clouds is approximately 12.5 miles long with 156 bends wrapped around the mountain, ending 14,000 feet above sea level. Pikes Peak offers the toughest test of car and driver – with some drivers having to wear breathing apparatus to compete in the race.
On June 28, crowds will gather on Pikes Peak where for years, car and motorcycle manufacturers have competed in this race, spending huge sums to get to the top the quickest. In 2014, that all changed. Guy Martin, a little-known trial motorcyclist who even the British would consider ‘slightly eccentric,’ decided to take on Pikes Peak. He did so without the backing of a manufacturer and wanted to do it his way. He built his motorcycle and brought his crew (all two of them) to the mountains of Colorado to compete for the first time.
Guy did what no one else thought possible. He competed in Race to the Clouds and won – beating all of the other bikes and manufacturers in his first-ever outing on a homemade bike!
Independence allows you to do things differently. A dedicated belief in what you do attracts others to your cause. If you believe, have the skills and are unconstrained enough to challenge the rules, you can make a difference and win.
Here at IQNavigator, just down the road from Pikes Peak, we like our independence and freedom and we like the results that our independence and freedom provides to customers.
Here at IQNavigator, we like Guy Martin!
I’m a believer that there are times in business (and life) when taking risks is necessary. However, managing your contingent workforce isn’t one of them, and the risks will only grow given that the demand for contingent workers is expected to increase in the coming years.
Typical internal systems and processes related to managing the contingent workforce are disjointed and inefficient, making it impossible for contingent workforce management (CWM) programs to effectively mitigate risk. Program risk comes in many forms and often doesn’t expose itself until it’s far too late. Continue reading