The contingent workforce has evolved from a temporary solution to a core part of almost every major organization’s talent engine. There are many ways to keep that engine tuned up and ready to go depending on your program’s size, complexity, needs and unique goals.

There are a few preferred ways to keep that engine humming and improve capturing, tracking, vetting and forecasting talent globally that will optimize cost and help managers capture tough-to-find talent with specialized skills.

Here’s an overview of the pros and cons of a few of the more prevalent solutions:

Total talent management (TTM)

This option promotes a cohesive, orchestrated global talent strategy.

Pros:

• TTM ideally creates a unified talent strategy that will harness an organization’s entire workforce cohesively and use its collective power.

• It typically maintains swim lanes but can also eliminate silos among HR, procurement, legal, finance and other key stakeholders.
• Orchestration, if attainable, optimizes labor costs and deployment speed, and increases visibility across all worker types.

Cons:

• It’s difficult to create and is an unattainable strategy for many companies since very few can create the necessary framework and collaboration.

Global compliance monitoring

This option can alleviate and mitigate risk.

Pros:

• Rapidly changing domestic and international labor laws demand trusted resources to drive compliance and help ensure accurate independent contractor tests.
• Gig workers or freelancers are a huge part of the workforce; having a validated classification process in place, internally or externally, is necessary to use them safely.
• Accessing employer-of-record and agent-of-record models as solutions can help achieve cross-border compliance safely.

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