Leaders,

Today we’re joined by Ray Culver, a staffing industry veteran and Certified Contingent Workforce Professional with 30 years of experience in sales, sales strategy, and sales leadership. 

This episode dives into the dynamic world of contingent talent, unpacking terms like contingent, external, MSP, freelance gig, and elastic, while breaking down the roles of staffing firms, MSPs, and VMSs, explaining how they all fit within the broader category of external talent. Ray also explores the risks and challenges that come with managing contingent talent, including classification issues and liability concerns.

Get ready to gain insights into the business models of staffing firms, including how markups and fees work. The discussion shifts to the rapid changes in the industry, including the rise of freelance marketplaces and the challenges staffing firms and clients face in adapting to new ways of working.

Ray emphasizes the importance of meeting talent where they are, rethinking how buyers and staffing firms approach freelance work and the ongoing need for reeducation for this space. He also shares his own experiences with freelancing and the unique challenges of explaining this evolving way of working to others.

Key takeaways:

• Contingent talent encompasses various terms and concepts, including contingent, external, MSP, freelance gig, and elastic.
• Staffing firms play a crucial role in connecting employers with talent, typically through temporary placements.
• MSPs (Managed Service Providers) and VMSs (Vendor Management Systems) are integral to managing contingent talent programs.
• Managing contingent talent involves navigating classification risk and liability.
• The business models of staffing firms often involve markups and fees.
• The industry is evolving, with the emergence of freelance marketplaces and the integration of different talent channels. 
• The freelance economy is evolving and talent is choosing to work in new ways, which requires staffing firms and clients to adapt and meet talent where they are.
• Describing freelance work can be challenging, but it offers the opportunity for deep relationships with clients and a focus on outcomes and impact.
• The rise of the freelance economy is driven by the demand for innovation and the need to bring outside talent into programs.
• Leaders looking to bring innovation to their companies should go on a hearts and minds campaign, educating stakeholders and building support for freelance programs.
• Building a strong brand and client relationships is crucial for success in the freelance industry.