It is possible for SMBs to leverage managed service programs. Here’s how.
By George Lanzano
Efficient utilization and management of a contingent workforce remains an area of focus for human resources leadership across all organizations. Due to ongoing issues with worker misclassification, the emerging impact of the Affordable Care Act, globalization, and cost savings pressures, this segment of the workforce is also being evaluated by procurement, legal, finance, and C-level stakeholders. In a 2013 survey of more than 200 business leaders administered by Ardent Partners, the primary areas of concern related to contingent labor usage were:
- The need for cost reduction within this category: 55 percent of respondents
- The need for better visibility into contingent labor: 45 percent of respondents
- The workforce becoming more blended: 35 percent of respondents
- Concerns about compliance (federal, state, regulatory, etc.
It’s actually the complexity of SOW projects that make them ideal for vendor management systems.
By Peter Parks
Many organizations believe that vendor management systems (VMS) are only appropriate for the management of straight time-and-material engagements, and that statements of work (SOW) are just too complex for the software to handle.
SOWs are often viewed as in a different class, with many variables and higher fees. This is due to the fact that SOW projects can be billed in many different ways: by milestone, at a fixed fee, or hourly rates.
Ironically, it is some of these very qualities that make SOW spend an ideal and sensible target for a VMS. If asked in the abstract, most project or purchasing managers would tell you that consistency in process is a good thing. They might also tell you that the more costly the project, the more important it is for the organization to be aware of the details and have maximum visibility.
Pre-hire assessment tools that mine data
deliver true gold: the right candidate for the job.
By Ray Bixler
In today’s war for talent, finding qualified workers is becoming increasingly difficult. In fact, a recent study by Leadership IQ tracked 20,000 new hires and found that 46 percent failed within 18 months. The cost to replace an employee ranges from 50 to 150 percent of a position’s salary. Plus, these totals do not factor in the indirect costs of lost sales opportunities, lack of productivity, and lowered morale. It is clear: Make the wrong choice and your new employee will most likely impact the growth of your business, damage your team’s morale, and cause involuntarily turnover. On the other hand, make the right choice and your new employee has the potential to help your business grow, stay longer, and help the company succeed.
Organizations are using behavioral science to increase employee satisfaction, retention, and leadership potential.
By Jason Taylor
Every employee within an organization has a career arc that is referred to as the employee life cycle. Some employees have a very short life cycle, while other employees find opportunities that fulfill their career objectives for the long term. There are both benefits and challenges to lengthening the employee lifecycle. Organizations that have employees with improved job satisfaction often experience increased retention and reduced turnover. But to achieve this, companies needs to deliver their workforce with growth opportunities, personal development, and upward mobility.
Behavioral science provides a method to bridge the gap between the employee’s and the organization’s needs. A short definition of behavioral science is the compilation of on-the-job core behaviors for a specific position which are then used to recruit, select, onboard, and develop hires in those target positions.
How to properly vet technology solutions for HR optimization.
By Paul Horalek
2014 brings with it a bevy of new regulatory changes and compliance measures, and these need to be addressed to avoid costly penalties. This is even more critical now as companies look to comply with mandates coming from the Affordable Care Act (ACA).
New guidelines like variable-hour tracking, summaries of benefits coverage and plan-reporting requirements will present significant hurdles for employers to follow.
In addition to having to implement measures to maintain compliance, HR personnel will need to identify ways to prove adherence to new rules—something that can be done by utilizing robust, dedicated HR software solutions.
With constantly changing directives and new regulations coming down the pipeline, and with renewed budgets set for the year, many companies will look to invest in new technology that can help enhance HR processes and improve departmental efficiencies, in addition to ensuring that new measures meet the scope of the latest directives.
How to get the right numbers to raise HR’s strategic profile
By Julia Mench
Chief people officers and HR directors have historically played a critical role in organizations’ recruiting and internal HR efforts. Despite this role, they rarely found themselves at the corporate strategy table, especially during extensive, data-driven innovation conversations.
Often recruiting efforts and information on active talent pools have been isolated from internal HR data regarding current employees. However, as a watershed of new HR technologies and cloud computing options now offer the ability to quickly synthesize HR data, unearth pervasive HR errors, and provide sophisticated analytics, HR leaders now have a unique opportunity to prove their long-term strategic worth.
By ensuring consistently accurate, up-to-date HR data sets and establishing proper governance processes, senior HR professionals can use this chance to measurably improve their organizations’ overall operations and profitability— solidifying their seat at the executive table.
We all live in a world populated by brands. Your company is worried about your consumer or customer brand, your social responsibility brand, HR, specifically your “employer brand.” Would you bet your job and career on your provider’s brand? Whether you want to or not, you will.
I am not advocating only engaging the largest provider companies for your needs. Actually, some global brands may be in this space but not completely committed to it (more on that below). I am saying that there are easily identifiable and public proxies for knowing the commitment a company has to the line of business for which you may be considering them.
All vendors (other than start-ups that have no choice) come into initial meetings regaling you about their size, geographical footprint, and their overarching commitment to their business.
Leading the Leaders
Earlier this month, I had the opportunity to steal some minutes of three veritable industry leaders who will be speaking at our HRO Today Forum in May. I posed the same questions to the trio around the main challenges HR faces today, and discovered a common thread in their answers: leading the leaders.
When I asked Joe Cabral, senior vice president and CHRO for North Shore-LIJ Health System, about what is driving his talent management strategy, he said investing in leadership: “We are working on helping leaders become better leaders. It’s leaders who are responsible for developing the workforce, and we need those leaders to take responsibility to help foster the talent.”
John Murabito, executive vice president of human resources and services for Cigna Corporation, has a similar outlook: Global growth needs to be executed from within.
The finalists for our first annual CHRO of the Year awards.
By The Editors
For our first annual CHRO of the Year awards, HRO Today is recognizing those CHROs with the capabilities to adapt to a competitive business environment in order to deliver the insight needed for HR transformation. We understand the importance of CHROs who drive workforce initiatives through innovation with measurable excellence in employee engagement and retention to prove it.
We have a roundup of incredible finalists. These CHROs are responsible for providing leadership to ensure talent acquisition and retention, business growth, and a culture that can lead in a global workforce.
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