Last week Fieldglass had the opportunity to connect with customers and thought leaders in procurement from around the globe at Ariba LIVE in Las Vegas.
Fieldglass was represented by several customers who presented at the event. Individuals from Axis Capital, T-Mobile and Yale participated in a panel discussion, sharing how they have taken a broader, more holistic view of the external workforce to grow their businesses. In a keynote session, AIG presented a compelling picture of total spend management with Ariba, Fieldglass and Concur.
Millennials, born in the 1980s – mid 2000s, are the largest generation in the United States and make up one third of the workforce. Yet they are only at the beginning of their careers. In fact the U.S. Bureau of Labor Statistics predicts that millennials will be close to 75 percent of the workforce by 2030. They are also the most diverse and educated generation to date, considering approximately 61 percent attended college.
The unexpectedly weak March jobs report casts new doubt on the strength of the U.S. economy. Not only did the economy only create 126,000 new jobs in March, but heavy revisions to January and February data showed 69,000 fewer jobs than originally thought. The unemployment rate remained unchanged at 5.5% and the labor force participation rate dipped slightly to 62.7%. Economists were expecting around 250,000 jobs in the March report.
Last week Fieldglass attended ProcureCon Canada in Toronto where we had the opportunity to hear one of our customer’s approach to independent contractor management.
This is the second post in a two-part series on engaging niche labor categories into services procurement and VMS programs.
In my post last week, I talked about the importance of initiating conversations with niche labor categories within your organization in order to better control spend and avoid the “balloon effect.” In this week’s post, I wanted to talk through specific talking points for each of the stakeholders in these categories so you’re better able to understand the opportunities and challenges facing these groups.