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Unleashing the Power of Direct Sourcing

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9 © Crain Communications Inc. | All Rights Reserved | Unleashing the Power of Direct Sourcing | September 2023 Introduction: Why Workforce Optimization Should Be a Top Priority Today With SIA's Global Gig Economy report indicating that independent contractors are now more than 50% of gig workers by revenue, the traditional model of full-time employees augmented by staffing firm personnel must evolve. To avoid business disruption, organizations need to take a new approach. In fact, talent shortages are already a daily cause of businesses failing to deliver their products and services, and the problem is only going to get worse. In 2022, 75% of employers worldwide reported talent shortages and difficulty hiring, according to research from ManpowerGroup. If left unchecked, by 2030, talent shortages could result in about $8.5 trillion in unrealized annual revenues, according to Korn Ferry. Why limit yourself to just 25% of the available workforce when there's a human capital scarcity problem and companies are struggling to hit investor returns? — Miles Everson, CEO, MBO Partners Understanding the trends that are fundamentally changing how work gets done and how workers want to engage can help contingent workforce program leaders find the motivation to move forward.

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