The X Factor - SIGsig.org/docs2/S01_The_X_Factor_How_a_Variable_Workforce_Model_… · About...
Transcript of The X Factor - SIGsig.org/docs2/S01_The_X_Factor_How_a_Variable_Workforce_Model_… · About...
How a Variable Workforce Model Drives
Cost Savings and Business Flexibility
The X Factor:
Monsanto
Molly MartinProcurement Category Manager – HR
TalentWave
Cori McKeeVP Business Solutions
sig.org/summit
The X Factor: How a variable workforce model drives cost savings
and business flexibility
SIG 2017 Global Executive Summit
Cori McKee, VP Business Solutions, TalentWave
Molly Martin, Procurement Category Manager - HR, Monsanto
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About TalentWave
The most experienced vendor-neutral provider of independent workforce engagement solutions: • Over 80 enterprise clients• More than 5,000 contractors engaged weekly• Extensive MSP and VMS partnerships
The iConnect® platform seamlessly delivers: • Independent contractor compliance• Agent-of-record IC engagement services• Employer-of-record professional payroll services• Vendor qualification• Sub-vendor engagement• Talent re-engagement• Global and advisory services
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About Monsanto
Monsanto is committed to bringing a broad range of solutions to help nourish our growing world. • Fortune 500 Company• HQ: St. Louis, MO
Products: • Agricultural and vegetable seeds• Plant biotechnology traits• Crop protection chemicals • Agriculture biologicals• Data science
Globally: • 20,000+ employees• 353 facilities in 69 countries United States:• 10,000+ employees• 125 facilities in 33 states
Agenda for today
• Today’s complicated talent environment
• Enterprise talent management
• Potential sources of talent
• Talent supply/demand modeling
• Developing a strategy
• Case study
• A few success factors
• Q&A
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Polling question 1
Does your organization use a mixof traditional and contingent workers to
get work done?
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Polling question 2
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Is the contingent portion of your workforce growing? Stable? Declining?
Polling question 3
Does Procurement drive the process? Alone? In partnership with HR?
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Change is the only constant
93%All job growth in past 5 years due
to contractor/temp roles
70%businesses expected to grow their
contingent workforces
Approaching 50/50by 2020, or sooner, depending on
economic conditionsContingent
workers
U.S. workforce
40%
60%
Traditional workers
Sources: BLS, Staffing Industry Analysts, Jobenomics U.S. Contingent
Workforce Report
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Workers choosing independence
Sources: RFS, a group combined of Stanford University and Y Combinator alumni, and Freelancers Union and Upwork
82%Millennials who say they are optimistic
about freelancing as a career path
50%Freelancers who wouldn’t stop
freelancing for any amount of money
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Sourcing independent workers
Then…
Traditionally
sourced from
staffing suppliers
Now…
More than ever,
companies are
deploying a
direct sourcing
strategy11
So, what’s the solution?
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Enterprise talent management
A holistic view of your entire workforce—
ensures the right workers are available, in
the right place, at the right time
maximum business flexibility
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Finding the right mix…
Traditional Workers vs. Flexible Workers
• The “million-dollar” question!
• Hard to answer, unique for each company
• Constantly in flux
• Many factors…
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The Total Workforce
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FLEXIBLE WORKERS
Enterprise Talent Demand CurveDriven by business needs, economic conditions
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Where do you draw the line?Where and when to use flexible workers
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Understaffed organizationTalent scarcity and longer time to productivity
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Overstaffed organizationReduced flexibility and high fixed-cost labor
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Balanced organizationUltimate flexibility and cost savings
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Matching the rightworkers to the work
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Non-Core
Work
Core
Work
Internal IP X
External IP O ?
(Employee)
(Consulting)(IC)
(Temp, Freelancer)
Flexible workers
Traditional workers
Define who should do the work
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Where the rubbermeets the road…
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1. Map your current organization structure—including all non-
employee, and outsourced resources.
2. Clearly define all the work being done across the
organization, and who currently performs it.
• Think in terms of output and deliverables, not just job
descriptions
3. Define the skills/experience required for each role:
• Core vs non-core, Internal-IP vs external-IP
• Consider: Strategic/Tactical, Variable/Steady workload
4. Establish the optimal workers required to do the work:
• Employee
• Consultant
• Independent Contractor
• Temp/Freelancer
Create your own talent strategy (1/3)
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5. Estimate number of workers you need to staff
current/projected workloads within the framework defined
above. Think about the cushion your business needs.
6. Process re-engineering – Some considerations:
• Does all the work still need to be done?
• Can it be done more efficiently?
• Can any of it be outsourced?
• Can it be packaged differently (“projectized”)?
• Ideal org structure?
7. Based on your unique business, decide on appropriate mix
of FTE vs flexible workers by category
• Role, department, group, project
• Use decision matrix as guide25
Create your own talent strategy (2/3)
8. Discovery: Identify who you already have. Ask:
• Do you have the right people on the bus?
• Are they in the right seats?
• Where are the gaps today? Anticipated in future?
9. Sourcing: Identify the suppliers of talent you need.
• How will you find and attract new workers?
• Can you be a “client of choice” for independent workers?
• Internal vs external recruiting?
• Direct sourcing vs 3rd party suppliers?
• What will the working relationship be between workers
and the organization?
10. Rinse and repeat!
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Create your own talent strategy (3/3)
Client case study
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Teamwork works!
HR and Procurementare better together!
working in silosSTOP
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Flexible workers: 10-50% of
total headcount (FTE & flexible)
Some guidelines…
• Temporary: 50-80% of flexible
workforce
• Freelancer: 5-10% of flexible
workforce
• Independent contractor:
10-40% of flexible workforce
• Consulting: 5-10% of flexible
workforce
• Each business is unique! There is
no right answer…
Strike a balance
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Risk, reward and thedouble-edged sword
“Engaging independent
contractors is not inherently
illegal, and legitimate
independent contractors are
an important part of our
economy.”
—David Weil, DOL’s Wage
and Hour Division Administrator
The IRS, DOL and state agencies
ramping up enforcement, stating
46% of U.S. workers are
misclassified
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Create a talent community
Web-based population of known talent
with specialized skills, who are interested in
working for you again
Who are they? Independent contractors,
consultants, freelancers, retirees, interns
and “silver medalists”
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Q&A
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Cori McKee
VP Business Solutions
303.808.4676
Molly Martin
Procurement Category
Manager - HR
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The X Factor: How a Variable Workforce Model Drives Cost
Savings and Business Flexibility
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Cori McKee
VP Business Solutions
303.808.4676
Molly Martin
Procurement Category
Manager - HR