HRO Today December 2014 - 59

Contingent Labor
Figure 2
Top Opportunities for Management Improvement
Total
Determining competitive rates
On-boarding or vetting
Handling expenses
Aligning with policies for larger service providers
Re-engagement of proven talent
Distinguishing between agency temps and ICs
to many. Organizations typically don't have a formal
review process, or even structured check-in points during
the duration of an assignment. The two main metrics
include job performance and budget adherence (see
Figure 3).
" The most important metric is the completion of the
SOW within the defined parameters captured on the
document, " say Lash. " Next is satisfaction in the job
completed. "
A more structured systemic review of assignments both
during the process and after completion could only
lead to better work being done, and more appropriate
Figure 3
Ratings of Key Metrics for Independent Contractors-Top Two Box: All Companies
Importance
of Metric
Rating of work completed
Total amount spent on independent contractor
Duration of assignment
Number of hours worked
Ability to process payments that are not strictly hourly based,
like SOW, fixed price, milestone based or other
Demographic diversity
Roll up of key metrics across independent contractors
91%
76%
71%
60%
50%
48%
41%
Accuracy
of Metric
64%
53%
71%
66%
43%
45%
28%
GAP
27%
23%
0%
-6%
7%
3%
13%
Respondents
64%
62%
46%
45%
44%
38%
contactors being hired in the future.
" IC engagement systems should track speed to
engagement, compliance to company policy, and
regulatory requirements and the IC's satisfaction with the
project. " Says Lash. " Organizations using ICs consistently
need to be concerned about being a 'client of choice', just
like 'employer of choice'.
In the age of big data, metrics become both all-important
and often overwhelming. Survey respondents were asked
to rate both the importance and their satisfaction with a
series of metrics designed to track the progress and status
of their ICs. Many respondents are familiar only with the
10,000 +
Empl.
67%
69%
50%
54%
45%
50%
DECEMBER 2014 | www.hrotoday.com
[59]
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HRO Today December 2014

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