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Next-Generation Contingent Workforce Solutions (CWS) for the New World of Work

Market Analysis

by Nikki Edwards

published on Apr 04, 2024

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Report Overview:

NelsonHall's market analysis of the Next-Generation Contingent Workforce Solutions (CWS) for the New World of Work services and industry trends consists of 155 pages

Who is this Report for:

NelsonHall’s CWS/MSP report is a comprehensive market assessment report designed for:

  • Sourcing managers investigating sourcing developments within the CWS/MSP market 
  • Vendor marketing, sales, and business managers developing strategies to target CWS/MSP provision
  • Financial analysts and investors specializing in the CWS/MSP sector.

Scope of this Report:

The report analyzes the worldwide CWS/MSP market and addresses the following questions:

  • What is the size and projected growth for the CWS/MSP market by geography?
  • What is the profile of activity in the global CWS/MSP market by industry sector?
  • What are the top drivers for the adoption of CWS/MSP programs?
  • What are the benefits currently achieved by users of CWS/MSP programs?
  • Who are the leading CWS/MSP vendors globally and by geography?
  • What combination of services is typically provided within CWS/MSP contracts, and what new services are being added?
  • What is the current pattern of delivery used for CWS/MSP programs, and how is this changing?
  • What are the challenges and success factors within the CWS/MSP market?

Key Findings & Highlights:

Recent economic factors, a shrinking working-age population, skills shortages, and changing workforce aspirations are forcing all-sized organizations to contact third-party vendors for support in embracing cost-effective multi-channel contingent (and broader) hiring strategies.   

The range of programs and services offered by CWS/MSP vendors is now at its broadest to meet those organizational demands. The order of the day is a continuum of basic through to advanced programs, with accompanying services and tech, evolving in value-add and complexity.

Successful vendors are creating a new portfolio of enhanced offerings focused on the latest client and buyer pain points. Such offerings include tail spend management (to curtail rogue, low-value spending), contractor care initiatives (improving the end-to-end contractor experience, loyalty, retention, and enhanced value for clients), consultancy, global hiring/talent insights, and strategic workforce planning (SWP) for the contingent workforce, bringing together many of these new initiatives with other recent-to-market schemes of the past few years (such as Hire, Train, Deploy) which continue to gain market traction.

Technology priorities and roadmaps focus on automation and AI/GenAI, followed by platforms to enhance global talent reach, contractor care, analytics, mid-market VMS, and CRM for enhanced service delivery. Leading vendors are investing in AI/GenAI POCs and deployments, primarily in digital assistants, document creation, and talent matching.

Leveraging ground-breaking proprietary or third-party technology with AI/GenAI-enabled features and functionality to efficiently and effectively source, hire, skill, redeploy, and retain contingent (and broader) talent globally, will become the new standard.

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