Millions of young Americans are experiencing a “quarter-life crisis.” They understand that the economy and the nature of work have changed forever. Talent today want more bang for their buck. They want to leave a mark, make a contribution, have a purpose. In short, they’re seeking a calling more than a career. They crave meaning, autonomy, and exploration. Managing one’s vocation successfully is no different than managing a business. And that’s why the contingent workforce has the power to[...]
As we discussed in April, close on the heels of VMSA Live 2017, MSPs are entering a new phase of transformation – one that mirrors and complements the evolution of the modern workforce. The original power of contingent workforce management grew from a highly transactional approach that focused on centralization, consolidation and process optimization. Today, the transactional nature of MSPs is giving way to strategic and consultative dynamics. It’s not just the mechanisms of business that have changed. Talent – yes, even contingent talent – have broken free from their cocoons and emerged as a different species of butterfly. Right now, freelancing has taken its place as the new norm. These experts are not contract workers or W2 employees of staffing firms. They are independent entrepreneurs, which begs a few questions: how do you find them, how do you engage them and how do you manage the partnerships? I believe this is precisely where MSP 3.0 will shine brightly.
Statement of Work (SOW), The Next Business Frontier
In an era of business that’s fueled by fierce competition and a push to innovate, organizations need to contain costs, streamline processes, develop fluid and elastic operations, and still find highly skilled workers who are capable of delivering results. It’s not an easy task. During the Great Recession, waning profits and the demand to curb overhead gave rise to an increase in contingent labor. Today, however, the continued growth of the non-employee talent force has less to do with slashing spending and more to do with the nature of work -- and workers themselves. Jobs in current business models are transitioning away from ongoing duties; they’re becoming a series of networked tasks and projects. Likewise, modern professionals are embracing this project-based mindset. They seek more control over the fulcrum that balances their working and private lives. They want to pilot their own courses.