The past couple of years have been difficult and tumultuous. The pandemic has forced businesses to make significant pivots to how they operate, and that includes how they view their workforce.
But as we move into 2022, there are new challenges that companies must address if they are to be successful and grow. Workforce shortages, supply chain issues and rising inflation are all going to have an impact on business as we move through the year.
The contingent workforce will be key to addressing those challenges and driving new growth.
To help businesses to just that, we’ve created a free eBook that looks at the top contingent workforce trends in 20222. We discuss how new trends in the contingent workforce can help companies address challenges and find new opportunities for growth as we move through the year, including:
- How the workforce shortage is impacting businesses in 2022
- Why work-from-anywhere models are promoting contingent work
- Why organizations must optimize the increasing number of staffing agencies they use
- How companies can support direct sourcing models
- The importance of implementing an effective contingent workforce management program
- How vendor management systems are now available for organizations with smaller contingent workforce volumes
Want to learn more? You can download the eBook for free by clicking the image below, or for a quick summary of the points we cover in the guide please feel free to continue reading this blog.
#1 - Businesses will need to find ways to address the workforce shortage
The workforce shortage, being dubbed ‘The Great Resignation’, is no longer just a skills shortage. In 2022 it’s now a complete shortage of workers in general. That means there’s more competition to hire new workers than ever before. Some tactics companies can use to address this and be in a better position to hire new workers throughout the year, include:
- Offering a competitive salary
- Optimizing and improving ROI from contingent workers
- Offering flexible work environments
#2 - The transition to remote work has made companies more willing to engage contingent workers
A large number of organizations now have the capabilities and infrastructure to manage workers who can work from wherever they want, whether it’s the local coffee shop, moving from one location to another or from the comfort of their own home.
Businesses which may have been wary of hiring contingent workers that work outside of the office before, are now more likely to feel comfortable enough to broaden their talent pool to contingent workers. Many companies are rethinking their workforce strategies as a result.
#3 - Companies will work with more staffing agencies than ever before
Historically, organizations have looked to consolidate their list of staffing agencies to fewer and fewer and look for volume rebates with the few primary agencies they retain. The large global staffing agencies are now proving outdated, slow and cumbersome and unable to respond to the rapidly changing job market - and many of these agencies now farm out their clients' jobs to niche agencies in local markets.
In 2022, we expect to see companies engaging with as many agencies as they can that specialize in their workforce needs. Instead of consolidating vendors, businesses will start casting wide nets and working with an increased number of staffing agencies.
#4 - Direct sourcing will grow as a contingent hiring tactic, and companies need to support it with technology
Traditionally, most businesses rely on staffing agencies to fill their contingent workforce needs. However, direct sourcing is a growing strategy that businesses are using to supplement their staffing agencies - building their very own talent pool that they can hire internally.
For this strategy to be a success, however, it’s important that companies use technology to manage it effectively. A vendor management system that supports direct sourcing will give organizations complete visibility and control over their entire contingent workforce management program.
#5 - Businesses are beginning understand the importance of implementing contingent workforce management programs
Despite the growth in contingent workers and staffing agencies for most organizations, many businesses in the past have struggled to implement effective contingent workforce management practices into their business. In 2022, businesses are now beginning to understand just how important this is to their bottom line.
Over the year we will see more companies implement highly-strategic contingent workforce management programs, whether that be internal management through a vendor management system or outsourcing the program to a managed services provider (MSP) or master vendor.
#6 - There’s a growing number of VMS systems specifically designed for companies with smaller contingent workforce volumes
Traditionally, vendor management systems were designed for enterprise organizations with large contingent workforce volumes and high spend. These systems were complex, time-consuming to implement and not cost-effective at all for businesses with smaller volumes of contingent workers.
Thankfully, in the past few years, there are new VMS systems that have been specifically designed for organizations with smaller contingent workforce spend.
About Conexis VMS
Conexis VMS stands out as a user-friendly and budget-friendly vendor management system (VMS) that leverages cutting-edge technology and prioritizing user experience. By streamlining and automating the procure-to-pay process for contingent non-employee contractors and their supplying vendors, Conexis enhances transparency, efficiency, compliance, and cost-saving opportunities throughout the organization via comprehensive reporting and analytics.
See Conexis VMS In Action!
See how easy Conexis is to use by taking a quick 2 minute Self-Guided Tour. Contact Us for a Free No-Obligation Consultation to discuss your workforce challenges (and get immediate actionable insights) or Book a Personal Demo Today!
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