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Unleashing the Power of Direct Sourcing

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3 © Crain Communications Inc. | All Rights Reserved | Unleashing the Power of Direct Sourcing | September 2023 Foreword We live in an era where the accelerating rate of change is the only constant, and the dynamic world of independent workforce management is no exception. The traditional models of hiring and workforce development are undergoing a seismic shift, one in which agility, flexibility, and strategic alignment play pivotal roles. It's against this backdrop that MBO Partners® and Staffing Industry Analysts (SIA) bring you this groundbreaking report on the power of direct sourcing for today's enterprise. I can't emphasize enough the timeliness of this report. Talent is not just an HR issue; it's a strategic imperative for all enterprises that impacts the bottom line. The agility to adapt to market changes, respond to customer needs, and foster innovation hinges on an organization's ability to source and engage talent effectively. Ask any C-suite leader, and they'll say their most important asset is their people. Those who ignore the totality of their workforce—including their independent labor—are missing the point, and missing access to 64+ million of America's most talented and in-demand workers. Direct sourcing is not merely a trend; it's a strategy that enables organizations to be nimble and targeted in their talent acquisition, thereby driving innovation and strategic growth. This report conclusively shows leading-edge companies gaining a competitive edge through their sophisticated approaches to talent acquisition. By using the right technologies, processes, and strategies, leaders in the space are building scalable programs that evolve alongside business needs and market conditions. The ability to start small and then expand ensures that even organizations new to direct sourcing can achieve rapid and sustainable ROI, and, eventually, expand into a full-fledged workforce optimization program that articulates a strategic "mix" of full-time, independent, and even offshore labor. The advantages of direct sourcing are manifold. They are realizing benefits that span from cost savings to increased productivity, reduced risk, and, above all, a work environment adaptive and responsive to ever- changing business needs. Moreover, direct sourcing promotes a culture of continuous improvement, a virtuous cycle that benefits both enterprise and worker. At MBO Partners, we have long been advocates for the next way of working, and we believe there is no better time than now to get started. The social contract between worker and enterprise is fast changing; those who don't get on board will be left behind. Direct sourcing is a critical component of the broader ecosystem. Now is the time for organizations to seize the opportunity to not just adapt but thrive in this new paradigm. I invite you to read this report as a roadmap for the path forward. As you journey through its findings and insights, consider how you, too, can elevate results, thereby setting your organization on a course for sustainable success. Miles Everson CEO, MBO Partners

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