Organizations increasingly rely on a contingent workforce of non-employee talent to complement their full-time, permanent employees. To realize their objectives, businesses must choose the right categories of external talent for every task or project to be accomplished.
This usually includes contracting with staffing suppliers to provide contingent workers on a time-and-materials basis at a fixed hourly rate.
Most organizations also engage project-based consultants or service providers on a statement of work (SOW) basis. These SOW contracts generally involve fixed project pricing in which payment is issued when milestones are met, or deliverables have been received and accepted.
To determine the best talent category for each project or assignment, it is vital to understand the different categories of talent available and how to engage this talent to achieve each objective.
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Sourcing, engaging, and managing contingent talent has become increasingly complex.
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