A Consultant’s perspective • Decades of change • From Job Shop to Digital Transformation Transparency in the Supply Chain • Framing Staffing Technology • Framing System Boundaries • QXAS – Solutio State of the Industry Jonathan Brostrom Principal Consultant 1218 Global • A race through Five major trends 25th November 2019 • Dimensions of Freelancer & Contractor Experience
Framing Staffing Functionality Shared Legal Customer AP Self-Bill Services Customer Finance AR Back Office Job Payment Opportunity Contract Invoice PO (Order) Sales General Assignment Quote Ledger Pay / Bill Receivables Rates Project Credit Payables Check Middle Office Timesheet CRM ATS Onboard Payroll HR Credit Search Labour Credit Agency Recruiter Candidate Employee Contract Analyst Contractor 2
Framing System Boundaries Business Intelligence S o l u t i o Middle Office Back Office Front Office CRM - ATS Billing Core Financials Sales & Recruiting Search & Match Time Entry Invoice Order Receivables Agency Assignment Engagement Scheduling Contracts Invoice Delivery Job Roles Payables Purchase Orders Time Rate Job Requests Allocations Interpretation Management Client Requirements Collections Skills Engine Competencies General Shift Sourcing Ledger Compliance Management Job Boards Payroll Payroll Interface Project Candidate Management Payroll Onboarding Engagement Mobile & Portal Delivery 3
Technology to manage the Freelancer and Contractor Experience A Recruitment - Enrolment - Time Processing - Payroll W G O End to End E R QX Solutio Seamless N Technology K C Visibility - Analytics - Calculation - E Y Rules R
The Staffing Industry Premises: • Contingent and Project-oriented Contract & Freelance will continue to increase as a percentage of total work State of • The three primary Actors in Staffing Industry processes continue to be Staffing Firms including Umbrella firms, Customers and Workers. the • Advances in technology are driving changes in how actors in the Staffing Industry behave – altering or even eliminating or the role of the Staffing Firm Industry Technology facilitates these main processes: Establishing Requirements & Jobs Recruiting Onboarding Assigning Monitoring Collecting and approving Time Paying Workers Billing Customers Management Metrics & Regulatory reporting
A race through Five Major Trends 1. Modularity – Breakdown of ERP | SaaS 2. Social/Mobile – Convergence of connectivity & media on mobile devices 3. Big Data – Dynamic pricing, Analytics, Management by Metrics 4. Artificial Intelligence – Machine execution of previously human tasks 5. Blockchain – Sovereign Identity, Smart Contracts, Immutability, Transparency
First Major Trend ERP Modularity – Breakdown of ERP | SaaS “ With cloud service • Replacement of On-Premise installations by Cloud and SaaS revenues continuing to grow by over 40 solutions continues gaining. percent per year, enterprise SaaS • Implementing a one-size-fits-all single ERP solution almost revenue growing by over 30 percent, and universally results in modifications and extensions. search/social networking revenues • Historically a single vendor and single platform has been growing by over 20 percent, it is little preferred. But availability of diverse applications on wonder that this is all integrated platforms permits customers to use the best pulling through continued strong application to suit their business. growth in spending on public cloud • API Integration makes modularized functionality accessible. infrastructure.“ John Dinsdal e, chief analyst and research director for Synergy Research Group
Second Major Trend Social/Mobile – Convergence of connectivity and media on mobile devices For the Staffing Industry, smartphones – mobile technology delivered directly to individuals – changes both the method, frequency, persistence and intensity of interaction. Smartphone apps & social recruiting is revolutionizing the industry. The ‘candidate journey’ within the social/mobile context is the focus of agencies seeking to recruit and retain quality workers.
Third Major Trend Big Data – Dynamic pricing, Analytics, Management by Metrics For larger firms, the data collected inhouse is already big data – millions of rows with hundreds, even thousands of possible attributes. Algorithms manage optimal margins, incorporating significant regulatory requirements for pay and bill, market conditions, labour availability, skill levels, cash flow effects. Dashboards – OLAP – drill-down – TIMELINESS & VISIBILITY
Fourth Major Trend Artificial Intelligence – Machine execution of previously human tasks Bringing together masses of unstructured data to find connections that validate approaches, and suggest new ones. Leading players like Luminoso develop AI solutions. 1. quantity – amount is key 2. granularity – details 3. quality – valid sources Players like sociallyrecruited.com claim to have deployed AI to evaluate candidates
Fifth Major Trend Blockchain – Sovereign Identity, Smart Contracts, Immutability, Transparency Failing cryptocurrencies and their implementation on a public blockchain seriously affects perception of blockchain as a technology – but BaaS (blockchain as a service), private, permissioned and hybrid blockchains remain critically valuable technological advances. The key change to incorporate in planning is Portable Virtual Identity www.uport.me Hedera hashgraph
Five Major Trends Social/Mobile + Artificial Intelligence + Big Data . . . www.sociallyrecruited.com Case Study - Tesco Tesco needed to fill HGV roles across the UK. They needed to recruit HGV drivers for 10 areas throughout the UK. After running a campaign for a 30-day period they had interaction from 230,530 social media profiles with 19,214 candidates clicking through to the Tesco job application page.
Significant Changes: Onboarding – Candidate Evaluations • Design mechanisms to set up and maintain processing in relation to • Candidate Management sovereign identity - • • Contract Management Integration points with identity and other forms of validation e.g. government agencies, credit firms, educational institutions, background • Disintermediation checking companies However… Contract Management • Design mechanisms to set up and maintain pay/bill contracts efficiently • There is Th is no su substit itute for Define automated and/or manually maintained compliance mechanisms with respect to regulations and regulatory agencies Disintermediation - Quali lity Rela latio ionship ips, , • Maintaining the staffing agency’s position in the employer/candidate Quali lity Co Contr trol, l, an and matching, hiring and management process Human In Interactio ion • Ethlance – direct worker/employer www.shiftpixy.com
What’s in it for me? Dimensions of the Freelancer and Contractor Experience QX’s mission is to deliver the very best of accountancy, finance, payroll, recruitment and corporate advisory services by placing our customers at the core of everything we do.
Contract Mechanics What is s the staffin ing blo blockchain? “The regulation’s reform requires both, the agency and the manufacturer to have the finalized and signed contract physically present the day before the worker begins. With our Worker platform, the smart contract is immutably saved on the blockchain (of which the agency and the manufacturer have a locally stored copy) and can be observed and checked for compliance by the authority. Further, a requirement for the contract to be deployed is the digital signature by both contractual parties, which can clearly be Customer assigned to the parties and include further information about the time of deployment. Security for the worker to be paid according to the contractual terms is provided by the immutable storage of data on a blockchain and its connection to payment executions.” Staffing Co Fred Steinmetz – PhD
Contract Terms are Blockchain Contained in Code & Enforced by an Application Contracts Transaction “ With blockchain , we can imagine a world in which contracts are embedded in digital code and stored in transparent, shared databases, where they are Evaluation protected from deletion, tampering, and revision. In this world every agreement, every process, every task, and every payment would have a digital record and signature that could be identified, validated, stored, and shared. Intermediaries like lawyers, brokers, and bankers might no longer be necessary. Result Individuals, organizations, machines, and algorithms would freely transact and interact with one another with little friction. This is the immense potential of blockchain.” Harvard Business Review
Conclusion QX & Solutio – the unfolding, forming future • End-to-end integration • Instant and persistent access to information • Fast & Accurate payroll • Multi-dimensional candidate support • Portable Identity Jonathan Brostrom Principal Consultant • Contracts enforced by software 1218 Global 25th November 2019
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