The Financial Services industry has never been more complex. As discussed in the first two posts of this four-part blog series, “CWM in Financial Services,” external regulations and internal governance are creating tough challenges for banks, investment firms, insurance agencies and other Financial Services organizations.
How can you overcome these and other challenges and capitalize on opportunities when they arise? One important strategy is to have the right people in the right roles in your organization. That starts with traditional full-time employees, but increasingly includes the contingent workforce. Continue reading
As discussed in the first installment of our “CWM in Financial Services” blog series, Financial Services organizations face a wide range of external regulations. But they also face strict internal governance. From the boardroom to the server room, every employee and business unit must meet the demand for visibility and accountability. Yet nowhere, perhaps, is compliance and governance more imperative than when dealing with third-party vendors and employees. Continue reading
Regulatory compliance in the Financial Services industry continues to grow in scope and complexity. Greater scrutiny, tighter controls, lost returns, and a constantly changing interpretation of risks all contribute to today’s unprecedented environment. While many of these regulations protect the consumer, they create significant challenges within Financial Services organizations. In this first post of our four-part blog series, “CWM in Financial Services,” let’s take a look at how you can address these challenges.
Overcoming regulatory obstacles can be as complicated as the regulations themselves. To navigate these compliance concerns, Financial Services institutions need the right people with specific skillsets, often on short notice, under a restricted budget, and in a marketplace with steep competition. Yes, hiring contingent labor helps meet these needs. But it comes with its own complications. Continue reading
When I was asked as a kid, “What do you want to be when you grow up?,” I responded like most kids with “a fireman” or “an astronaut.” I also went through a period where I wanted to be an architect, but once I realized that most people don’t actually want a playground slide in their house, I moved on.
Regardless of my career direction as a youngster, you never would have heard me say that I was going to be in a career where I would get excited about a National Labor Relations Board ruling! But that’s exactly what happened last Thursday when the NLRB issued its ruling involving waste management company Browning-Ferris Industries and staffing firm Leadpoint Business Services. Continue reading
Published on Procurement Leaders (30 July 2015)
The massive shift in the structure of labour away from traditional permanent employment to greater use of contingent labour presents significant management challenges to businesses and organisations.
Companies in Europe typically have in the region of 5-20% of their workforce made up by temporary workers, up 25% compared with five years ago. This figure varies from country to country with The Netherlands as one of the highest users of non-permanent staff, currently at 21%.
Contingent labour is typically not hired by HR departments, but procured at departmental or project level. They are also paid in very different ways; hourly/daily rates or per project and fall under different taxation rules and rates and governed by different national and regional regulations.