A method by which a company identifies, selects, receives, and pays for contingent workers and related services. Companies could employ more than one sourcing model within a contingent workforce program. This can be identified by a company’s position along three independent axes: competitiveness, rate elasticity, and vendor integration. Competitiveness - the degree to which staffing agencies are invited to bid against each other with respect to submission time, candidate quality, and price. Options include sole-source, primaries, structured tiers, and open bidding. Rate elasticity - the degree to which CW demand affects rates, with options including fixed-rate cards, pay range plus markup, max bill rates, and open bill rates. Vendor integration - the degree to which a company uses external resources, with options including complete program outsourcing, on-site administrative support, off-site transaction support, and no use at all.
Request Demo