Self-‐Sourcing: Redeploying contingent workers to ......CWS Council membership represents over...

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Self-‐Sourcing: Redeploying contingent workers to recognize better ROI

Sponsored by

March 10, 201610 am PT/ 1 pm ET

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Who We AreStaffing Industry Analysts is the global advisor on staffing and workforce solutions

• Our staffing firm membership is composed of many of the largest regional, U.S. and global staffing firms in addition to representatives from all parts of the contingent workforce industry.

• Our CWS Council membership represents over $100 billion in annual contingent workforce spend.

• We are a trusted advisor providing objective research within the contingent workforce ecosystem.

Founded in 1989• Acquired by Crain Communications ($200M media conglomerate) in

2008, headquarters in Mountain View, California and London, England

• Comprehensive and vast industry and advisory service experience among executive, advisory and research team


CWS Council Members (partial public list)

CCWP Continuing Education and Recertification Program Enhancement Announcement

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Our Speakers Today…

Dan Khublall, Director, Global Contingent LaborThomson Reuters

Dawn McCartney, Director, Contingent Workforce Strategy and ResearchStaffing Industry Analysts

Justin Lumby, Vice President, Enterprise SolutionsTalentnet


Why Self-Source? TR’s program maturity journey to push boundaries2

Strategies Compared: Self-Managed vs. Managed Solution3

From Conception to Live: Talent Pools, Technology, Process & Change Management, Managing Risk

4

Measuring Success: Fulfillment & Savings targets, Access to Labor, Worker Quality

5

Q&A6

What is Self-Sourcing? What is it not?1

AGENDA


It’s certainly a HOT topic

Defining Self Sourcing: Are buyers actually doing this?Current and projected use of supplier management strategies


13%

25%

29%

30%

31%

37%

40%

45%

51%

55%

57%

61%

63%

65%

66%

69%

69%

89%

57%

21%

25%

18%

59%

47%

28%

42%

39%

27%

20%

28%

26%

30%

18%

11%

23%

10%

Total talent management

HRO

Direct sourcing

Master supplier

Strategy planning includes CW

Global management of CW

RPO

Trying out new staffing suppliers

SOW in CW Program

Vendor for IC compliance

Significant use of offshoring

Encourage diversity suppliers

Supplier tiering

Consolidation of suppliers

MSP

Use of domestic outsourcing

VMS

Approved list of suppliers

In place today Exploring within 2 years N=185

Defining Self Sourcing: What about the candidates?


Defining Self Sourcing: How temporary workers prefer to be informed about new job opportunities.

Two most preferred are:

EMAIL : 59 %

PHONE CALL: 31%

Although it seems like everyone texts surprisingly only:

6% prefer a TEXT


Email, 59%

Phone call, 31%

Text, 6%

Oth, 4%

About Thomson Reuters

Empowering your brand.

History:• Founded in Toronto, Canada in 1934. Now headquartered in New York City with operations spanning

the globe. • We are the leading source of intelligent information for the world’s businesses and professionals,

providing customers with a competitive advantage.• Our four primary areas of focus: Financial & Risk, Legal, Tax & Accounting, and Intellectual Property and

Science

• We also operate Reuters, a leading provider of real-time, high-impact, multimedia news and information services to newspapers, television and cable networks, radio stations, websites, and mobile applications around the globe.

Key Metrics:• $28b Mkt cap

• 53,000 employees (globally)

Contingent Workforce at TR:• Currently engaging over 16,000 workers with program implementations across North America, EMEA

and APAC• Fieldglass first implemented in 2009 and now serves markets in the US, UK, Ireland, China, Hong Kong,

Singapore with plans to expand to India in 2016.• External MSP in North America and UK, In-house managed elsewhere.

About Talentnet


History:• Talentnet is a contingent workforce technology and managed solutions provider, partnering with clients

in the United States, Canada and the United Kingdom.• Founded in 2013 as an independent Payroll & IC Compliance provider backed by angel investments

from a multinational staffing firm, Talentnet quickly evolved into SaaS-based Self-Source / FMS technology

• Pioneered the marriage of FMS and managed services to provide a complete managed solution to leading Contingent Workforce Programs in late 2013

Key Metrics:• Headquarters in Houston, TX, with key regional offices in New York, Toronto and London, UK.• 2016 revenue of $200MM (projected)• 2015 revenue of $170MM• 158 employees (internal)• 4000+ active worker engagements

• 100,000+ active Private Talent Community profiles (client combined)

Markets Served in 2015:• Finance & Investment Banking• Insurance• Technology & Telecommunications• Utility• Retail

Attendee Poll:

My company and Self Sourcing:


1 My company already Self-Sources but hasn’t formalized a strategy that includes a technology platform and/or managed solution provider

My company already Self-Sources and has formalized a strategy that includes a technology platform and/or managed solution provider

My company is looking to explore a self-sourcing strategy in 2016

My company is not interested in Self-Sourcing at this time

2

3

4

What is Self-Sourcing? What is it not?


Self-Sourcing IS….

Self-Sourcing is NOT….

• A strategy that leverages brand as a key talent attractor in enabling process to directly engage alumni, retirees, returning workers and referrals

• May be internally administrated or managed through a 3rd party provider and typically makes use of an online “talent community” or FMS to organize, house, identify and connect with a defined pool of candidates

• A strategy to drive additional spend savings and spend efficiency while providing increased visibility into the available talent pool

• A replacement for your staffing suppliers

• A sourcing strategy to fill 100% of your roles


1 Opportunity: Our brand is a powerful attractor and we recognized the untapped value

2

3

Timing: Our program is mature and well-established. We see self-sourcing as a critical pillar to our savings strategy in 2016 and beyond.

We already do it: The reality is, we already “self-source” today, we just hand’t formalized a strategy or leveraged it’s potential.

Why Self-Source? TR’s Program Maturity Journey

4 Benefits: Allow Thomson Reuters to realize significant cost savings, provide our business with direct visibility into our available talent pool and access worker quality metrics


Strategies: Self-Managed vs. Managed SolutionSelf-Managed• Internal Recruitment team required to post roles, review candidates and shortlist

to Hiring Managers

• Internal team operates or at a minimum makes use of Talent Pool technology

• Talent Pool technology costs typically include implementation fee and ongoing licensing

• Internal team will have the best understanding of your organization out of the gates

Managed Solution

• A 3rd party handles all recruitment efforts, is held to SLAs and operates the Talent Pool technology

• Savings via economies of scale may be possible by combining operational and technology requirements

• Managed Solution provider works directly with MSP


From Conception to Live: Technology

1 Talent Community: Candidate facing portal allowing willing participants to create a profile, market directly to TR and apply to curated opportunities

2 TalentBench: Business facing portal allowing our business to gain insight and engage with available labor


From Conception to Live: Talent Pools

Who is in?Alumni

Returning CW

Referrals

Retirees

?



Key Considerations

1 Access: How will you capture each identified candidate group?

Excluded Groups: Should certain groups be purposely excluded?

Categorization: What process or functionality will you use to maintain candidate source groups? (e.g., former CW vs. referral)

Risk: Do certain groups inherently introduce more or less co-employment risk?

2

3

4



How many do I need in the talent pool?

1 Identify in-scope roles: What roles make strong candidates for self-sourcing? Why? Why not?

2 Determine demand: Look at in-scope requisition distribution history and trends over the past 24-months

3 Determine appropriate supply: Typically you will need a 10:1 - 15:1 ratio of talent pool candidates to associated requisitions



How do we invite in-scope candidates?

Opt-in: An Opt-In campaign is recommended to mitigate risk and compliance with anti-spam legislationCAN-SPAM(US)/EC Directive(UK)/CASL(CA)


From Conception to Live: Process

Managed Recruitment2Self-Source Talent Community1 Worker Engagement3

MSP/VMS


From Conception to Live: Process

Initiate Contingent Worker Requisition

VMS

1

Complete intake session2

Managed Sourcing of TR Self-Source Talent Pool

3

Worker Identified

4

Onboard

5

OR No worker Identified

4

Engage External Staffing Suppliers

5


MSP


From Conception to Live: Change Management

1 MSP/VMS: Adjustments required to facilitate Self-Sourcing Strategy (e.g., distribution and submittal process)

2 Business: Change management required to educate business on new Self-Source process

3 Suppliers: What does Self-Sourcing mean for your suppliers in the short and long term?


From Conception to Live: Managing Risk

The #1 rule of managing risk with Self-Sourcing:

Do not engage any worker you wouldn’t have due to real or perceived risk before the Self-Source strategy was implemented.


From Conception to Live: Managing Risk

The #2 rule of managing risk with Self-Sourcing:

All worker engagements should be maintained at an arm’s length through a direct-hire / payroll firm. Workers should remain W2 temporary employees of the payroll firm.


Measuring Success

Rate card savings: Self-Sourced workers are accompanied by a reduction in markup as there is “less effort” on our providers part to source workers.

Program savings vs. Fulfillment: Our methodology is simple. Take the delta between self-sourced and agency sourced workers multiplied by fulfillment.

Process: We will closely monitor the impacts (positive & negative) of self-sourcing on our business. Self-Sourcing is intended to delivery cost savings and increased access to labor while maintaining or improving time-to-fill

Program savings vs. Fulfillment: Our methodology is simple. Take the delta between self-sourced and agency sourced workers multiplied by fulfillment.

Time for your questions…



Thank you to our sponsor…

For more on Talentnet, please visit www.talentnet.com

Direct Inquiries, contact Justin Lumby, VP Enterprise Solutions ([email protected])


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5/05/2016 Leveraging the Flexible Workforce: Buyer Perspectives on the Promise of Total Talent Management

5/11/2016 Total Talent Management-‐Fact or Fiction?6/9/2016 Keeping Pace with Worker Misclassifications in the Gig Economy7/14/2016 SOW and Program Management, Metrics and Measurements That Make Sense7/20/2016 The Legal Minefield -‐ What is your organisation ultimately accountable for?8/11/2016 Leveraging the Human Cloud for Competitive "Talent" Advantage!9/8/2016 Setting the Bar: Standards to Drive CW Program Success9/14/2016 Contingent Workforce Policies That Stick10/13/2016 Legal Update 201610/19/2016 Global SOW Trends and Strategy11/10/2016 VMS / MSP Landscape 2016: The State of the Art

• Copies of the slides and a link to the audio recording will be distributed to all attendees within 48 hours following the webinar

• A replay of the webinar will be available for CWS Council Members at www.staffingindustry.com


Self-‐Sourcing: Redeploying contingent workers to ......CWS Council membership represents over...

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