6 Benefits to Optimizing Your Workforce

By MBO Partners | August 13, 2021

Share
people talking at desk in office

Finding the talent you need to effectively run your business is no easy feat. The modern workforce environment is increasingly trending towards remote and independent labor. Businesses that embrace this change by aligning their workforce with a strategic mix of full-time, independent, and offshore talent are increasingly competitive and agile. Below, we take a look at six benefits of optimizing your workforce for the future.

1. Access to Top Talent

By shifting focus from hiring an employee for a specific job to engaging independent talent for a defined project, organizations can re-think the type of talent they hire for. For example, independent talent are often more cost effective than hiring an employee who may require a costly benefits package and the prospect of continued employment even after a particular project is complete.

And thanks to evolving technology, finding and engaging top talent is becoming easier. Marketplaces like MBO’s provide on-demand, direct access to independent professionals who are highly skilled in their area of expertise, be it coding, marketing, or website design. Marketplaces are used to quickly and strategically fill project needs based on required skills.

2. Efficient, Happier Workforce

With the ability to engage talent on an as-needed basis, organizations can realize increased output and higher satisfaction and productivity levels among independent talent. As competition for skilled talent increases, the more organizations can do to prioritize talent well-being, the better. A streamlined work experience, clear onboarding process, and quick and fair compensation go far in creating an attractive workplace and keeping independent talent happy and productive.

3. Increased Agility

A blended workforce also provides the ability to scale work up and down depending on market needs. This approach allows businesses to more easily meet budget constraints, quickly react to project demands, and remain open to innovation.

4. Operating Leverage

Rather than relying on a third-party intermediary such as a consulting firm or staffing company to fill talent needs, enterprises are increasingly implementing a direct sourcing strategy—allowing managers to source talent internally. Moving recruiter functions in-house allows companies to avoid costly third-party markups. Furthermore, an internal recruiter who understands where and how to find independent talent can proactively stock a company’s talent pool, allowing for on-demand deployment for current and upcoming projects.

5. Cost Savings

There are many cost savings opportunities that accompany workforce optimization. Three key benefits include flexibility in talent acquisition, which can lower payroll costs and time-consuming recruiting activities, the ability to move recruiter functions in-house, which can reduce third-party recruiting costs, and reduced compliance risk, which can help reduce the costly lawsuits, fines, and penalties associated with worker misclassification.

6. Compliant Engagements

Whenever a company engages an independent contractor, it is important to ensure that they are properly vetted and engaged. Workforce optimization goes hand-in-hand with the latest technology, which increases transparency into independent workers, minimizing the risks and costs embedded in legacy practices such as managers using their own networks to find talent, or payrolling all independent contractors regardless of their background. Organizations such as MBO Partners provide a trusted methodology for evaluating and engaging independents, and mitigating the risk of worker misclassification.

For more information on optimizing your workforce, get in touch with our team of experts today.

Related Posts

people talking at desk in office
| 3 MIN READ

Contingent Workforce Management Solution: How to Leverage and Optimize Your Workforce

September 24, 2021

What is Contingent Workforce Management? Contingent workforce management involves finding, engaging, and managing contingent talent—people who work as independent contractors, consultants, freelancers, entrepreneurs, digital nomads, gig workers etc. In order to build a blended workforce that is a strategic mix of contingent and full-time talent, it is important to: (1) engage talent quickly, cost-effectively, and…

group of professional consultants working in office
| 3 MIN READ

5 Ways to Build Strong Client/Contractor Relationships

September 23, 2021

Build positive, successful relationships with your independent workforce with these five tips.

consultants working in office
| 3 MIN READ

Increase Adoption of Contingent Workforce Management Policies

September 22, 2021

One of the most valuable resources to organizations today are independent professionals. This component of your total workforce can bring in much-needed expertise, best practices, and delivery capabilities. However, that value can be quickly lost without internal buy-in. Adherence to and understanding of your contingent workforce management program is critical to remaining compliant, attracting top…

Learn more about the MBO Platform

For Independent Professionals

Start, run, and grow your independent business with MBO

For Enterprises

Find, manage and retain top-tier independent talent