Navigating innovation and workforce trends: Our leaders’ key insights from the SIA CWS Summit
On September 16th and 17th Horizontal Talent CEO Jeremy Langevin and Regional Vice President’s Kevin Erickson and Jeff Seebinger attended the SIA CWS Summit, the premier event for contingent workforce program managers and professionals. While in Dallas, they participated in engaging sessions, networked with industry leaders, discussed the future of work and more.
Here are their top 10 takeaways from the conference:
1. Navigating economic uncertainty
One of the central themes of the summit was how organizations are adjusting their contingent workforce strategies amid economic uncertainties. Concerns over recessionary trends and fluctuating market conditions were front and center, as leaders explored ways to remain agile. Adapting to these changes by leveraging a flexible workforce is becoming more critical for companies looking to thrive in unpredictable times.
After a pullback in the industry for the past couple of years, companies are feeling optimistic about their plans for investment, innovation and ultimately growth in the coming years.
2. Talent acquisition and retention
Attracting and retaining top talent remains a significant challenge, especially as the labor market becomes increasingly competitive. The summit emphasized the importance of innovative recruitment strategies, such as offering competitive compensation, robust benefits packages and flexible working arrangements. This focus requires employers to create compelling value proposition in order to secure high-quality talent.
3. Technology and automation
Automation and AI-powered tools were key topics of discussion, especially their impact on contingent workforce management. These technologies have proven invaluable in improving efficiency, driving cost savings and ensuring compliance in workforce programs. With technology continuing to evolve, staying ahead of these developments will be crucial for organizations that want to scale and streamline their operations.
The summit also highlighted the rise of new technology companies launching innovative Vendor Management System (VMS) platforms. These solutions are streamlining contingent workforce management, offering better tools for compliance, worker classification and overall program efficiency.
4. Gig economy trends
The gig economy was another focal point, with insights into how businesses can better utilize this expanding workforce model. Challenges remain, such as ensuring compliance and navigating the complexity of worker classification, but the opportunities for organizations to effectively leverage this flexible labor pool are vast. As gig workers become an increasingly integral part of the workforce landscape, companies must adapt their strategies to accommodate this shift.
5. Compliance and risk management
Navigating the legal and regulatory complexities of contingent workforce management is an ongoing challenge. From labor laws to tax regulations to data privacy, ensuring compliance while mitigating risks is top of mind for workforce leaders. The summit shed light on the importance of staying ahead of regulatory changes and the need to work with suppliers who can help manage these risks.
6. The role of DEIB
Diversity, equity, inclusion, and belonging (DEIB) may not be as prominent in organizational focus as it once was, but it remains a critical area for contingent workforce leaders. Embracing diversity is not only a moral imperative but also key to building a stronger and more robust workforce. Leaders are encouraged to continue prioritizing DEIB initiatives to enhance their workforce strategies.
7. In-house contingent workforce programs
There is a growing trend toward organizations bringing their contingent workforce programs in-house. This shift offers increased flexibility in program design and creates significant cost savings, allowing businesses to better tailor their approaches to contingent labor while managing expenses more effectively.
8. Services procurement and worker classification
An area of growing interest for many organizations is the focus on services procurement, specifically around non-employee labor. This initiative aims to better understand spend, ensure proper worker classification and reduce compliance risks. As workforce models become more complex, managing these elements will be increasingly important.
9. Rise of independent consultants
Another trend is the surge of independent consultants offering contingent workforce advisory services. With deep expertise and tailored advice, these consultants provide value in helping businesses navigate the complexities of the workforce landscape and design more effective workforce strategies.
10. Transparency in the RFP process
There were significant discussions around the Request for Proposal (RFP) process, with a call for greater transparency in communicating the goals and expectations of workforce programs. Clearer guidelines and expectations are expected to foster stronger partnerships and more effective solutions.
Final takeaways
Statement of Work (SOW) continues to be integrated into contingent workforce programs, providing further structure and clarity to engagements. Additionally, with legal and regulatory changes on the horizon, it’s more critical than ever to partner with suppliers who can help mitigate these risks and stay ahead of compliance changes.
Despite some pullbacks across the industry, the summit left attendees feeling optimistic about the future of contingent workforce programs. Leaders anticipate increased investment, innovation and growth in the coming years. Suppliers are no longer seen as simple “req fillers,” but rather as strategic partners that can offer creative solutions, globalize talent strategies and bring fresh perspectives to the table.
Overall, the SIA CWS Summit was an amazing event that allowed buyers the opportunity to let their guard down and ask meaningful questions, share best practices and gain critical insights into the evolving landscape of contingent workforce programs!– Kevin Erickson, Regional VP Horizontal Talent