HRO Today November 2016 - 45

MSP
important picture, which is the cost of labor decisions, "
fi nds Steele. " In addition to spend, organizations
should be tracking the costs associated with training,
lost productivity, and the cost to the business of not
fi lling a vacant position for a prescribed period of time.
Traditionally, organizations monitor spending trends by
job description, job category, and geography. Today
it is possible and advisable to monitor the trends for
factors, which can predict spend and costs such as local
unemployment rates, demographics, freelancing and
sharing economy micro-tasks. "
Ardent Partners' report shows that best-in-class
organizations that leverage analytics are getting insights
that drive program management: 68 percent have realtime
visibility into spend and suppliers and 65 percent can
forecast future needs.
" Increased visibility through advanced analytics enables
employees to make better business decisions which
will facilitate achieving business objectives and solving
business problems, " says Steele.
It's Not Just About Spend
In addition to spend and supplier management, there
are several types of analytics and metrics that can
help manage contract workers:
* Compliance and risk mitigation
* Headcount
* Assignment tenure
* Full-time equivalents
* Time to fi ll
* Requisition activity
* Worker quality
* Talent and budget forecasting
Analytical Capabilitiess, Best-in-Class vs. All Others
Real-time visibility into spend-andsupplier-led
aspects of CWM
Ability to forecast future utilization
of non-employee labor
Real-time visibility into
talent-based resources
Predictive analytics
Ability to transform core CWM data
into usable intelligence
68% 25%
65% 16%
62%
53% 16%
36% 11%
Cognitive intelligence 14%7%
Best-in
Class
Source: Ardent Partners
NOVEMBER 2016 | www.hrotoday.com
[45]
All
Others
36%
http://www.hrotoday.com

HRO Today November 2016

Table of Contents for the Digital Edition of HRO Today November 2016

HRO Today November 2016 - 1
HRO Today November 2016 - 2
HRO Today November 2016 - 3
HRO Today November 2016 - 4
HRO Today November 2016 - 5
HRO Today November 2016 - 6
HRO Today November 2016 - 7
HRO Today November 2016 - 8
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