Engaging the External Workforce: Procurement’s Role in Unlocking Value – Procurement Leaders
Increasingly, organizations are looking to sources of talent outside of their full- time employees to solve problems and meet customer needs. Research by Oxford Economics, in conjunction with SAP Fieldglass, reveals that the external workforce – contractors, consultants, service providers, and contingent labor – accounts for nearly 42% of total workforce spend.
While the workforce in question is a major, yet ill-defined spend category that is often overlooked and under-managed, it serves as a major contributor to an organization’s agility and competitive edge, as the COVID-19 pandemic illustrated. As consumers switched to online shopping, Amazon hired 175,000 temporary staff in the United States alone, while Tesco in the UK hired 45,000. From warehouses to production lines and call centers, and from fast-tracked digitalization, organizations’ external workforces were often at the forefront of their response to the pandemic.
These immense shifts toward digitalization and a flexible workforce have created opportunity for procurement teams – and pressure for change.
In this whitepaper with Procurement Leaders, we explore:
- Key components of a best-run external workforce management strategy
- Opportunities to derive efficiencies and cost-savings in external workforce procurement
- What effective digitalization of external workforce management should look like and the steps teams can follow to ensure that happens
- How industry-leading businesses are digitalizing external workforce management
Download a copy of the Procurement Leaders whitepaper using the form on this page.
Download the Procurement Leaders whitepaper using the form below.