As Staffing Industry Analysts reported, last year “companies processed $82.4 billion U.S. dollars (USD) in spend associated with the human cloud on a global basis.” Today’s business environment is defined by the fluidity of globalization. In a short span of time, technology has eroded many of the barriers -- physical and social -- that have separated people throughout the ages. We’ve entered a new era of work where our tools, processes and people function in “the cloud.” Rigid structures and[...]
Although VMSA Live is always educational and exciting, this year’s conference seemed remarkably fresh and unique. Like the arrival of spring, the event brought forth a sense of renewal, exploration and new directions to pursue. It wasn’t just the presence of a more diverse mix of companies in attendance. The contingent workforce industry seemed poised for a new shift. The digital nature of business, the gig economy, the exponential boom of smaller and midsize enterprises all signaled a powerful change in the dynamics of modern work. These transformations weren’t lost on Managed Services Providers (MSPs). Some of the most recognizable firms were even reconsidering the term “MSP,” believing it no longer indicative of the role. However, that doesn’t mean MSPs are about to fade away. I think we’re about to witness to emergence of MSP 3.0 – where the transactional gives way to the strategic.
Although leadership and vision may form the heart of an organization, people are its soul. That’s why creating the right company culture has become imperative for businesses in today’s rabidly competitive market. Yet what kind of culture works best? Performance-based? Engagement-based? For contingent workforce program managers, the answer gets murkier. Contractors and staffing providers play an instrumental role in enterprises across all industries and service categories. Naturally, performance factors heavily into their selection and usage. However, engagement is equally critical. Because these professionals operate on the periphery of the organizations they serve, it’s easy for them to experience a sense of disconnection. I believe contingent workforce program managers have a golden opportunity to unite performance and engagement. With their influence, they can work with clients to create a purpose-based, collaborative culture for hiring managers, staffing partners and talent.
Today’s corporate lexicon flows with words like innovation, speed, agility, expansion, reinvention and change. We even borrow acronyms from the realm of social media. One in particular is FOMO -- the fear of missing out. Buried beneath the jargon, however, lurks a formidable beast: obsolescence. The exponential progress of the digital age has ushered in an era of incredible disruption. The status quo no longer ensures security or longevity. Obsolescence is a real threat -- the signal to the noise, and it’s growing stronger. To ensure success, the choice seems to be evolve or die. Contingent workforce programs, despite their steady spread, aren’t immune. The good news is that providers who are willing to adapt and shake up their operations will prevail -- and outpace their competitors.