Organizations’ Maturity in Key Total Talent Dimensions | Market Insights™
October 26, 2023
Talent Dimensions
Talent Dimensions
VMS Functionalities
The UK’s contingent talent and strategic solutions industry underwent a significant transformation in 2021-22. Amidst the challenges of adverse macroeconomic conditions and an impending recession in 2022, enterprises faced a talent shortage due to scarcity of skilled workers and worker attrition. Service providers responded by prioritizing upskilling, bridging the skills gap, and promoting inclusive talent acquisition. Their initiatives included targeted outreach, inclusive job descriptions, unbiased screening, and collaboration with Diversity, Equity, and Inclusion (DEI) organizations. Technology played a pivotal role as digital platforms and tools streamlined operations, improved candidate sourcing, and enhanced workforce management. AI-powered candidate matching and online talent marketplaces gained prominence, providing efficient ways to connect employers with contingent workers.
The report analyzes the performance of various UK contingent talent and strategic solutions providers and examines:
Scope:
The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.
In the next normal, due to enterprises’ increased focus on workforce scalability and agility, the contingent workforce is emerging as a key focus area. As a result, enterprises are increasingly leveraging Contingent Workforce Management (CWM) / Managed Service Providers (MSPs) to manage their end-to-end CWM needs.
Market developments following the pandemic are causing MSPs / CWM providers to play a strategic role in workforce management. In response, providers are broadening their offerings and investing in the management of all types of contingent workers. They are enhancing their service scope, digitalizing processes, and expanding consulting capabilities. Providers are also exploring innovative talent solutions such as direct sourcing, services procurement management, total talent management, and independent contractor management to meet enterprises’ demands.
This report analyzes the performance of 30 MSPs /CWM providers and 18 services procurement providers and includes:
Scope:
The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.
After the COVID-19 pandemic, the demand for contingent talent surged, leading to continued growth in the US contingent talent and strategic solutions industry throughout 2022. The scarcity of skilled workers drove this growth, as enterprises faced ongoing challenges in acquiring talent due to both a skills shortage and voluntary employee turnover. Despite concerns about an impending recession, the talent supply and demand imbalance persisted, resulting in a prolonged talent shortage in the US. This situation created an opportunity for providers of contingent talent and strategic solutions to address the talent gap by investing in various areas, including technology-driven solutions, managed services, learning and upskilling programs, and fostering DEI.
This report analyzes the intricate dynamics of the US contingent talent and strategic solutions provider landscape and its impact on the overall US contingent talent and strategic solutions market in 2022. It specifically focuses on IT staffing, engineering staffing, business and professionals staffing, and industrial staffing. The report provides a comprehensive overview of the market and examines how providers differentiate themselves using the extensive Everest Group PEAK Matrix® as a benchmark for analysis.
The report analyzes the performance of various contingent talent and strategic solutions providers and offers:
Scope:
The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.
The UK contingent staffing industry was contracted by the pandemic in 2020, and the use of contingent staffing plummeted throughout the country. As the industry began to recover in 2021, heightened contingent talent demand due to a rapid rise in the talent demand-supply gap, labor pyramid distortion, and the Great Resignation accelerated growth in the second half of the year. Providers tapped into this opportunity and improved their sourcing capabilities to meet enterprises’ increasing demands. In addition, domains such as DE&I, upskilling and reskilling, and managed services gained prominence and became the key differentiating factors among providers.
This report examines the dynamics of the contingent staffing provider landscape in the UK and its impact on the UK contingent staffing market (overall staffing and IT staffing) in 2021. It provides an overview of the market and analyzes the domains in which providers have differentiated themselves. The report also positions 21 contingent staffing providers on Everest Group’s PEAK Matrix® as Leaders, Major Contenders, and Aspirants.
The report analyzes the performance of 21 contingent staffing providers, including:
The UK contingent staffing provider landscape
UK (Overall) Contingent Staffing Service Providers PEAK Matrix® Assessment: classification of 18 contingent staffing providers into Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework
UK IT Contingent Staffing Service Providers PEAK Matrix® Assessment: classification of 15 contingent staffing providers into Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework
Everest Group’s analysis of the providers:
UK contingent staffing providers’ capabilities assessment on seven dimensions: market adoption, portfolio mix, value delivered, scope of services offered, innovation & investments, delivery footprints, and vision & strategy
Remarks on key strengths and limitations of each contingent staffing provider
Industry: contingent staffing
Geography: UK
LEARN MORE ABOUT UK Contingent Staffing Services PEAK Matrix® Assessment 2023
The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.
With the struggle to find the right talent and attrition at an all-time high across the globe, the contingent workforce is emerging as the next frontier for disruption and innovation.
The thriving market is driving contingent staffing providers to migrate toward a managed services engagement model. This presents undeniable advantages, such as greater business certainty for staffing firms and opportunities for enterprises to attain high-quality outcomes at low-risk levels with minimal management oversight.
Join this webinar as our speakers dive into the factors driving this shift, expected challenges and opportunities, and insights into the journey towards diversification into the managed services space.
The webinar will answer key questions, including:
Who should attend?
Contingent Staffing Providers
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Contingent Staffing Providers
VIEW THE FULL REPORT
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