#FIRMday Manchester 25th Sept 2019 - TribePad: Contract v Perm – How to consider the benefits of a flexible specialist contingent workforce whilst engaging, promoting and retaining permanent talent
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In this presentation, EmployBridge Chief Workforce Analyst Joanie Courtney, reviews the latest jobs report from June 2019 and data from the BLS.
This month’s job report exceeded expectations as hiring rebounded over the last month and jobs growth far exceeded expectations at 224,000 jobs added. The size of the labor pool also increased over the last month with approximately 335,000 people coming back into the workforce. Additionally, wage growth increased by $0.06 in June, another indicator that the economy is strong.
GT Events & Program Guide: ForwardThinking August/September 2017Grant Thornton LLP
ForwardThinking is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
Tightening pressure transforms the landscape: The state of asset managementGrant Thornton LLP
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Direct Source and Engage Highly Skilled Independent Talent with Controlled Co...MBO Partners
This webinar, “Directly Source and Engage Highly Skilled Independent Talent with Controlled Cost and Risk,” is brought to you by Spend Matters and MBO Partners. In it, you will learn about the fast growing independent professional workforce segment along with the state-of-the-art models for effectively and efficiently engaging these professionals. Key topics will be:
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We bring you the Trendline Report for September 2013, offering key insights into the temporary staffing industry. Our up-to-date research and in-depth analysis of industry trends ensure that you have a pulse of the market. Rigorous examination of contingent workforce supply and demand provides you with predictive forecasts of wage trends and market status.
In this presentation, EmployBridge Chief Workforce Analyst Joanie Courtney, reviews the latest jobs report from June 2019 and data from the BLS.
This month’s job report exceeded expectations as hiring rebounded over the last month and jobs growth far exceeded expectations at 224,000 jobs added. The size of the labor pool also increased over the last month with approximately 335,000 people coming back into the workforce. Additionally, wage growth increased by $0.06 in June, another indicator that the economy is strong.
GT Events & Program Guide: ForwardThinking August/September 2017Grant Thornton LLP
ForwardThinking is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
Tightening pressure transforms the landscape: The state of asset managementGrant Thornton LLP
After years of growth, asset managers face a number of challenges. Here, we examine these challenges and provide insight into the state of the asset management industry.
Direct Source and Engage Highly Skilled Independent Talent with Controlled Co...MBO Partners
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- Recent studies into the demographics of independent professionals and how they increasingly prefer self-employed status and direct engagement with clients.
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- How integrated procurement models, such as source-to-pay, and technology-enabled platforms, including work intermediation platforms (WIPs) and freelancer management systems (FMS) are transforming the way businesses engage independent talent efficiently and with less compliance risk, while achieving new visibility into and control over contractor spend.
- How MBO Partners provides unique engagement alternatives that enable efficient, low-risk direct sourcing and engagement of highly skilled independent talent.
DCR Trendline September 2013 – Contingent Worker Forecast and Supply Reportss
We bring you the Trendline Report for September 2013, offering key insights into the temporary staffing industry. Our up-to-date research and in-depth analysis of industry trends ensure that you have a pulse of the market. Rigorous examination of contingent workforce supply and demand provides you with predictive forecasts of wage trends and market status.
Dealing in a digital world - strategies to future-proof your businessEY
As the world goes digital, developing innovation in-house is no longer enough, according to a new study from EY. Instead, with constraints around time and capital, non-tech firms are turning to mergers and acquisitions (M&A), joint ventures and alliances to acquire the innovation they need.
How IT Life cycle management can drive efficiencies right across the law firmShaun O'keeffe
How are laws firms investing in technology? Discover insights from a survey commissione dby HSBC and The Lawyer.
Discover how IT life cycle management can support firms to focus on what matters... the client experience and attracting and retaining talent
EY Wealth & Asset Management explores how digital technology is accelerating the transformation of wealth management. Read the full report at ey.com/wealthITsurvey
ForwardThinking is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
Most of the value in mergers and acquisitions is ascribed to intangible (not tangible) capital. Ignoring these intangibles can be dangerous. This presentation covers how to identify and measure intangibles in traditional Accounting deals--and presents a more modern alternative: ICounting.
Greythorn are proud to announce the release of our Technology Market Landscape 2014. Drawing on information from our in-depth Hiring Manager and Candidate surveys this presentation will inform you of trends and issues currently affecting the IT and Technology markets.
The "liquid workforce" and its impact on the creative field —
Adapted from my presentation for the AIGA Design Conference in Minneapolis, MN, October 2017
Dealing in a digital world - strategies to future-proof your businessEY
As the world goes digital, developing innovation in-house is no longer enough, according to a new study from EY. Instead, with constraints around time and capital, non-tech firms are turning to mergers and acquisitions (M&A), joint ventures and alliances to acquire the innovation they need.
How IT Life cycle management can drive efficiencies right across the law firmShaun O'keeffe
How are laws firms investing in technology? Discover insights from a survey commissione dby HSBC and The Lawyer.
Discover how IT life cycle management can support firms to focus on what matters... the client experience and attracting and retaining talent
EY Wealth & Asset Management explores how digital technology is accelerating the transformation of wealth management. Read the full report at ey.com/wealthITsurvey
ForwardThinking is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
Most of the value in mergers and acquisitions is ascribed to intangible (not tangible) capital. Ignoring these intangibles can be dangerous. This presentation covers how to identify and measure intangibles in traditional Accounting deals--and presents a more modern alternative: ICounting.
Greythorn are proud to announce the release of our Technology Market Landscape 2014. Drawing on information from our in-depth Hiring Manager and Candidate surveys this presentation will inform you of trends and issues currently affecting the IT and Technology markets.
Igniting growth through innovation: highlights from retreat
Similar to #FIRMday Manchester 25th Sept 2019 - TribePad: Contract v Perm – How to consider the benefits of a flexible specialist contingent workforce whilst engaging, promoting and retaining permanent talent
The "liquid workforce" and its impact on the creative field —
Adapted from my presentation for the AIGA Design Conference in Minneapolis, MN, October 2017
DCR TrendLine January 2014 – Contingent Worker Forecast and Supply Reportss
Hello 2014! As we approach a fresh year, the editorial staff at TrendLine is excited to share our analysis and insights into the staffing industry. Our up-to-date research and in-depth analysis of industry trends ensure that you have a clear reading of what’s happening in the world of contingent worker supply and demand and talent acquisition.
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With the passing of the 2018 Bi-partisan Budget Act, increasing the defense funding cap, how can your organization take advantage of the budget influx and maximize opportunities over the next 16 months? What are the priorities of defense IT decision-makers? Will current on-hold projects move forward or does this influx provide new opportunities to develop in key focus areas?
Aaron Heffron, President of Market Connections and defense agency expert, Ray Bjorklund, President of Birchgrove Consulting as they discuss implications and recommendations based on the results from our recent 2018 Defense Budget PulsePoll™.
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In an increasingly digital world, the ability to find jobs has never been easier and the challenge to retain talent has never been harder. Employers, especially in the public sector, find themselves at a crossroads where not only could they lose talent but they will spend precious resources hiring, onboarding, and training new staff. Accenture is a leader in recruitment, reinventing the experience for candidates, line managers and recruiters by unlocking the potential of technology, data and your teams. We have end-to-end capability which allows us to go from recruitment strategy, right through to delivery and running recruitment operations; bringing confidence we will leave you with a workable solution.
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#FIRMday Manchester 25th Sept 2019 - TribePad: Contract v Perm – How to consider the benefits of a flexible specialist contingent workforce whilst engaging, promoting and retaining permanent talent
8. CONTRACT V PERM
HOW TO CONSIDER THE BENEFITS OF A FLEXIBLE SPECIALIST CONTINGENT
WORKFORCE, WHILST ENGAGING PROMOTING AND RETAINING PERMANENT TALENT
Tom Beale – Medical Protection Society
9. OVERVIEW
• Benefits of recruiting Contractors and being a Contractor
• Background on the “GIG economy”
• External influences on the contracting population
• Economic uncertainty
• IR35
• Negative perception
• Rising costs
• Impact on the permanent population – Employee Engagement, Talent Development, Talent Attraction
• MPS – Seizing the opportunity to make a change
10. Benefits of being a
Contractor / Hiring a
Contractor
Remuneration
Tax Savings
Autonomy
Build your own Network
Variety Flexibility
Subject Matter
Expert
Time
Technology
Allow BAU to continue
Networks
11. “The gig economy involves the exchange of labour for money between
individuals or companies via digital platforms that actively facilitate
matching between providers and customers, on a short-term and
payment by task basis.” HMRC 2018
12. Some of the largest growing and most successful companies have utilised GIG
workers
13. The GIG economy
• Circa 3 million people have worked in the gig economy in
the last 12 months
• People enjoy the benefits of flexibility and experience
• Currently it is predominantly used as supplementary income
• 87% of people surveyed by HMRC reporting earnings of
under £10,000
• 59% of freelancers providing professional or creative
services
14. Accenture and Deloitte both predict 30% of the UK’s workforce will be freelancing or gig working by
2020. In the US, this will rise as high as 50% by 2020.
15. “All the while we consider it one coherent phenomenon, which it is not. We won’t be able to answer important
questions about how contingent labor impacts people and organizations, how gigging professionals manage their
career and well being and how organizations deal with larger numbers of contractors and giggers.”
Dr. Richard A. MacKinnon from WorkLifePsych Ltd 2019
Key consideration - To note the difference between Gig and
Contractors
• Do not label it as the same thing if you are to understand and utilise this new
talent pool
• Both have a key part to play in staffing across the UK and Global markets
17. Challenges faced by Contractors
• Economic uncertainty
• Government Policy
• IR35
• Negative perception
• Rising costs
18. Contract V Perm internally
As part of our own insight at MPS looking at our contractor utilisation we found, particularly within Digital
and Change, that contractors were perceived negatively amongst the employee community.
“Rock star salaries – part
time hours”
19. MPS – striking a balance
• Carrying out an IR35 review we determined almost half were inside of scope using the CEST
tool and another 25% were undeterminable.
• Over the course of 2018 MPS had on average 50~60 contractors on a daily basis
• This equated to <4% of our employee population, but this made up >10% of staff costs
It was clear we were not using contractors effectively and we identified the need to utilise
permanent talent and build a cross skilled and flexible workforce
20. • Using contractors for specific projects only
• Design clear statements of work (SOW’s)
• Always look internally first
• Maintain an engaged and valued permanent working
population
• 27% of roles filled in 2019 have been internal
promotions
Our plan moving forward
21. Summary
• Do not group all freelancers/ contractors under the gig economy umbrella
• The Contractor market faces tough times ahead, but no more so than industry in
general with Brexit and Political uncertainty
• Specialist contingent workforce add significant value and are a vital part of the
economy which has continued to grow.
• However, they need to be used for what they are intended and not covering staffing
shortages and BAU as this is expensive and risks financial penalty under IR35
• Plan ahead, look to utilise permanent workforce for change and strategic projects.
Upskill and reward them to maximise employee engagement