Upcoming Webinar: Direct Sourcing of Professional Independent Talent Has Come of Age Andrew Karpie - July 7, 2015 1:06 PM | Categories: Learning / Research, Services Procurement & Contingent Labor, Sourcing | Tags: General News Sourcing and engagement of contingent workforce has traditionally occurred through staffing suppliers, which, while predictable and low risk, also involves high transaction costs (bill rate mark-ups than can exceed 60%), long time-to-fill lead times (can be measured in weeks) and often questionable quality-of-hire. These shortcomings can be amplified when highly skilled, expert talent is at issue (bill-rate mark-ups are at their highest and the consequences of a poor match, after a long lead time, can be very costly). FREE Research: Is your procurement organization ready to adopt alternative models for contingent labor? However, today, the alternative method of directly sourcing highly skilled, expert talent can mitigate the above shortcomings. In addition, it provides much needed access to a different talent population which prefers to engage and work directly with a range of different businesses as non-employee independent professionals or freelancers – a population which recent data suggests is growing rapidly: "Overall, the independent workforce has recorded 12% growth, compared to 7% growth in overall employment over the last 5 years. This trend is forecasted to continue, as 4 in 5 independents plan on staying independent, and 1 in 7 non-independents plan to join that group in the coming years. High-earning independent workers now represent 10% of all independents and are the fastest-growing segment. The number of independents earning $100,000 or more per year has grown 45% over the last five years, totaling 2.9 million people." The direct sourcing method (often over-simplified and dismissed as just hiring 1099 contractors) has been looked upon with reservation under the belief that it is lacking in spend management and compliance risk control. But the truth is that technology, independent worker engagement techniques and managed services are making the method a viable and effective one that will allow access to much needed, critical talent with lower transaction costs, visibility into and control over pay rates, improved cycle times and quality outcomes. To provide you with a comprehensive perspective on all of the above, Spend Matters has teamed with MBO Partners for the upcoming webinar, “Directly Source and Engage Highly-Skilled Independent Talent with Controlled Cost and Risk” on Thursday, July 30 at 12 p.m. CDT. In this webinar, you will learn how the method of direct sourcing of professional independent workforce has come of age and how it can be made to work for you – providing a new, viable approach to accessing critical talent that your business needs. Register today! Discuss this: Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website Notify me of follow-up comments by email. Notify me of new posts by email.