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5 themes that emerged at this year’s CWS Europe
The recent SIA's CWS Summit in London was a hotspot for industry leaders to discuss the ever-changing world of workforce management. The Worksome team was there and joined the conversation, bringing back vital insights on how companies can better integrate independent talent into their contingent workforce strategies.
1. Independent Talent: The Missing Piece in Your Workforce Puzzle
One key takeaway: Companies need a solution for identifying independent talent across their businesses. Many businesses still struggle with tracking freelance engagement, hiring, and compliance, which results in poor visibility and mismanagement of this growing talent population. The challenge is not just finding talent but creating a seamless experience for both workers and clients to get talent started as quickly as possible.
2. Enhancing Workforce Visibility
Incorporating freelancers into formal workforce programs isn’t just about logistics—it’s a strategic move. By properly capturing and accounting for independent talent, companies can achieve unparalleled visibility into their entire workforce and better manage freelance cost categories. This is essential to achieve operational efficiency, strategic decision-making, and risk mitigation. “Enhanced visibility leads to a more complete picture of the talent you have working at your company - without this visibility, companies put themselves at a significant risk,” David Weiss, SVP Revenue at Worksome.
42% of CWS attendees were at the event to upskill on Total Talent Management
3. Tackling Compliance and Governance Risks
The event attendees also shed light on compliance and governance risks they are facing, such as PSC misclassification and keeping up with HMRC's IR35 requirements. Ignoring these crucial regulations or not having a compliance solution in place exposes these companies to significant risks, thus making it paramount to establish a proper classification process for all business lines to abide by.
54% of CWS attendees said Increasing Efficiency was their top priority to improve their workforce program
4. All Eyes on Freelance Management
A consensus emerged among talent and contingent workforce leaders: the need for a robust, end-to-end solution for managing freelance talent is more critical than ever. As companies increasingly rely on a diverse mix of talent to supply the skills needed, the demand for a comprehensive strategy to manage this varied workforce has become apparent.
Attendees highlighted the need for a management system that encompasses all aspects of freelance engagement—from sourcing and onboarding to compliance and payment processing. This system should seamlessly connect with existing HR platforms, allowing companies to manage all types of workers through a unified interface. By centralizing data, companies gain valuable insights that can lead to better workforce planning and improved strategic decision-making.
5. A Call for Strategic Partnership
Insights from the SIA's CWS Summit underscore a critical shift in how companies view and manage their workforce. Worksome stands out as a key partner, offering a robust platform for engaging, provisioning, and paying freelance workers efficiently. Navigating the complexities of a changing labor market requires experts who specialize in freelance management, compliance, and creating the optimal talent experience.