Sourceright, Randstad’s global workforce solutions division, and TalentWave, a major independent workforce engagement solutions provider, recently announced a partnership aimed at the growing source of independent talent.
The growth and increasing importance of the independent talent population are being continuously validated by a range of studies, including “Freelancing in America 2016” (Upwork/Freelancers Union) and “Independent Work: Choice, Necessity and the Gig Economy” (McKinsey). Correspondingly, many solution and service providers within the established (yet still evolving) talent supply chain have begun to link together to provide their clients with access to this alternative source of talent. In the past, sourcing and engagement of independent workers have not been extensive, as buyer businesses have been wary of the risk. Clearly that is changing.
Scott Fraleigh, President of MSP and Payrolling and Independent Contractor Solutions at Randstad Sourceright, was quoted as saying that “together, Randstad Sourceright's talent expertise and TalentWave's IC services expand the value of a solution that is proving vital to companies as they expand their engagement of independent contractors as part of the total workforce.”
According to the announcement, “the partnership combines Randstad Sourceright's capabilities covering all talent types, from ICs to contingent workforce management and full-time employees, with TalentWave's comprehensive IC management technology and expertise in IC classification and engagement.” TalentWave’s contribution to the partnership includes “a solution that automates key aspects of the IC engagement process, providing advanced reporting, online self-service and process consistency” as well as “TalentWave's IC Healthcheck solution provides Randstad Sourceright clients with an IC usage assessment, highlighting any practices that could adversely impact the client and providing actionable recommendations for remediation.”
Teresa Creech, CEO of TalentWave, stated that "Through our partnership with Randstad Sourceright, TalentWave is proud to expand our reach as part of a solution that applies the best in IC expertise and technology.”
What This Means for You in CW Management and Services Procurement
For contingent workforce management and services procurement professionals, the partnership is significant as a validation of the increasing use of independent workers and direct sourcing approaches within the portfolio of contingent workforce options. Such combinations also mean new solutions to be evaluated and vetted in the strategic sourcing context.
For more information on other developments at Sourceright and TalentWave, see our recent articles:
- Randstad Sourceright Leverages Recent Acquisition twago as FMS
- ‘TalentWave’ Created by Merger of Two Independent Workforce Solution Firms
And if you would like to follow our unique analyst coverage of ongoing developments in the contingent workforce domain, then visit us at http://spendmatters.com/contingent-labor/ and sign up for our weekly email digests.