66
Projected age of retirement
for current workers.


"facticious"
Data that is false or fabricated.

gold
The best data scientists turn
distilled information into pure gold.

butter
Too much churn and
companies lose the cream.

guatemala
Guatemala has the largest CW
compared to population in Americas.

1 in 3
# of working Americans in
the contingent workforce.


"jobsolete"
As some jobs become out of date,
others emerge.

rope
In a conformity string, we call attributes
that impact cost and availability of
qualified job candidates "pieces of work".

2%
Projected growth office/clerical
staffing 2013.

44%
Companies implementing proper
measures during offboarding.

singapore
Singapore was world's top CW
productivity market 2014.

male
Data Scientist: the most wanted
job by employers on LinkedIn
in 2014.

belgium
Belgium has the highest tax burden in EU.

247:10k
Ratio of robots to employees in Korea,
highest level in the world.

36%
Employers who find paying
freelancers cumbersome.

stars
The big star in our universe is Data Centauri.

40
% of American workforce projected
to be freelance by 2020.

crystalball
Predictive analysis is only as
insightful as the analysts.

sugar2
Data should never be sugar coded.

bow
A good strategy stretches without
changing its basic shape.

19.6wks
Average length of unemployment
of managerial candidates.

17m
# of workers with tenuous
ties to employers.

37
% of senior HR officers identifying
talent management as top HR issue.

questions


To find answers, we formulate questions.
Then question the questions.

< 20
% of private sector workers receiving
employer sponsored health insurance
by 2025.

16%
CW population at average
large company.

france
France has the highest
tax burden in EMEA.

70
% of Fortune 100 who’ve
implemented a VMS.

-1.5m
Shortage of US managers able to
analyze big data and make decisions
based on findings.

£2.6b
Amount NHS spends on
temp staffing.

shamrock
Independent contractors can
be reclassified by Irish courts.

CWS 3.0: November 6, 2013

By Christopher J. Minnick

The traditional bill-by-the-hour approach to services is a relic of a dying economic age.

Popularized in the 1950s by the American Bar Association when it became concerned that the income of lawyers was falling behind that of doctors and dentists, the idea of charging by units of time — the hour — was meant to replicate the efficiencies of mass-production manufacturing. Instead it incentivizes someone to spend more time than necessary on routine work rather than the more nuanced tasks that require specialized, valuable insight.

And yet the billable hour is still the most commonly used method by companies to buy contingent workforce services. Why? Because the billable hour is easy for people to wrap their head around and measuring productivity is supremely difficult.

DruckerQuote

At its most basic, worker productivity is simply a measure of how efficiently he or she works. In essence, how much does someone produce for each hour spent on the job? Once easy to calculate for assembly line workers in traditional manufacturing jobs that were once at the core of the economy, it’s much more difficult to calculate productivity for the service jobs and knowledge-based work that dominate today’s economy. In truth, most companies have little idea how to measure the financial value of ideas and the people who come up with them. The amount of time spent on a task or the output produced may have little to do with how productive someone truly is.

The answer lies in creating broader and more nuanced measures of productivity for knowledge workers, especially those with a special expertise, that account for the quality, effectiveness and impact of someone’s work, not just the quantity of the output. Different types of knowledge workers differ in the way in which they transform knowledge into business value. Some carry out routine tasks as individual contributors and others complete complex tasks collaboratively amongst a wider group of workers. The specific contribution of highly skilled, knowledge workers to business value consists in their capability of professional judgment—their ability to apply a comprehensive body of knowledge to individual and rather complex cases.

The following figure is a classification structure for knowledge workers that can be used by companies to assess productivity.

Click image to enlarge.

Productivity assessment

As companies seek to mature their workforce practices to achieve competitive advantages, taking on “the great management task of this century” is a great place to start.

View on the Staffing Industry Analysts website