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Procurement & Talent Marketplaces

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Procurement & Talent Marketplaces 7 TALENT MARKE TPL ACES: AN INTRODUC TION www.talmix.com +44 20 3176 5615 @wearetalmix wearetalmix The globalization of business continues to challenge companies as they search to find and secure goods, services and workers. As the use of the extended workforce grows, Procurement has a key role to play in adding value for their organizations. "PROCUREMENT CAN HELP THE ORGANIZATION MAKE BETTER DECISIONS ABOUT ITS WORKFORCE AND BE MORE AGILE. THIS SHIFT CAN ULTIMATELY CHANGE A COMPANY'S ENGAGEMENT WITH ITS WORKERS BY DIRECTLY SOURCING TALENT AND HAVING MORE CONTROL OVER THE EXPERIENCE OF ITS EXTENDED WORKFORCE". Better Visibility A recent study, 'The CPO Agenda: Become the Partner for Enterprise Agility', found a number of impediments hindering some procurement departments, including mismanaged or low-quality data, poor visibility into spend, inadequate technology and unclear, outdated processes that create confusion and repetition. In order to overcome these, procurement "must expand and elevate its business relationship from gatekeeper and strategic sourcing expert to transformative strategic adviser". The workforce ecosystem continues to evolve, and extending beyond the permanent workforce has become a core responsibility for most procurement teams. With staff shortages and skills gaps, companies are now looking to quickly replace them with external talent. Whether the drivers of this are short-term expediency or longer-term planning for skills and operational agility, it seems that the trend is accelerating. And it requires careful management to maximize the benefits and potential of internal and external talent to deliver required business outcomes. To support this change, procurement departments are taking advantage of new technologies, especially workforce management tools and talent marketplaces, that allow them to bring better data and resources to the conversation. SpendMatters report, 2020 Utilizing the latest technology will become central for heads of Procurement to overcome the challenges of managing an increasingly extended workforce. Talent marketplaces can help keep costs down by providing a convenient way to maintain workforce visibility and reduce recruitment costs.

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