As per the latest trends, up-to a third of total workforce is made up by independent consultants or external talent, sans the traditional roles of employees. The field of talent recruitment has moved on from hiring employees to simply finding the best talent available on project basis. Kelly Services and Manpower were the first to provide such services, but it is now an industry-wide concept fuelling the idea of a free agent nation. As per business intelligence provided by the Staffing Industry Analysts, nearly three-fourths of all independent professionals happen to be “knowledge workers” as opposed to just above half that was in 2008. Firms such as Athena, 99 Designs, Hela and Vitea are disrupting all forms of industries around them by providing specific talent based services such as onboarding, service delivery and Statement of Work (SOW). Companies however are losing out on competitivity by playing their traditional game with rate cards which provide specific figures for all kinds of work. While there is much variation, companies typically opt for the least cost, without looking at the bigger picture. This leads to a “penny wise, pound foolish” scenario which needs to be ditched as often the more expensive solution gives greater bang-per-buck returns.

Source: https://www.forbes.com/sites/katevitasek/2017/08/08/shake-up-your-talent-acquisition-kill-the-rate-card-to-improve-roi/#7f2162573b31

Uploaded Date:21 November 2017