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transcript
© 2013 Crain Communications Inc
Contingent Workforce Risk Workshop
Workshop Leaders:
Diana Gabriel, VP, Strategy & Solutions,Staffing Industry Analysts
Bryan Peña, VP, Contingent Workforce Strategies & Research, Staffing Industry Analysts
Richard Thorne, Director, Strategic Solutions, Europe,Staffing Industry Analysts
15 MAY 2013 | 16:15 | SAPHIR ROOM
© 2013 Crain Communications Inc
15-16 MAY 2013
Agenda
What types of risk are there? Introduction to the risk assessment and prioritisation matrix Remediation strategies… Case Studies, what would you do?
© 2013 Crain Communications Inc
15-16 MAY 2013
QECR Framework
Confidential and Proprietary. ©2013 by Crain Communications Inc. All rights reserved.
Quality
Efficiency
Cost
Risk
© 2013 Crain Communications Inc
15-16 MAY 2013
Risk Categories
Strategic
Operations
Compliance/Legal
Reporting
Safeguarding resources
Personal
© 2013 Crain Communications Inc
15-16 MAY 2013
Types of CW regulatory risk worldwide
Pay/Benefits EqualityMisclassification by HirerMisclassification by Supplier Co-employment Outsourcing Public Perception Supplier Legal Breach Health & Safety Immigration
© 2013 Crain Communications Inc
15-16 MAY 2013
Contingent Workforce Risk Assessment and Prioritisation Matrix
Confidential and Proprietary. ©2013 by Crain Communications Inc. All rights reserved.
© 2013 Crain Communications Inc
15-16 MAY 2013
Contingent Workforce Risk Responses
Confidential and Proprietary. ©2013 by Crain Communications Inc. All rights reserved.
© 2013 Crain Communications Inc
15-16 MAY 2013
Break it down…….
1. Risk identification
2. Risk assessment and prioritisation
3. Risk response
4. Control and monitor
Confidential and Proprietary. ©2013 by Crain Communications Inc. All rights reserved.
© 2013 Crain Communications Inc
15-16 MAY 2013
Leverage the Village..
© 2013 Crain Communications Inc
15-16 MAY 2013
Case Study Exercise -
Huge Telecommunication Technologies Infinity ITGlobal Pharma plc
© 2013 Crain Communications Inc
15-16 MAY 2013
Break Out Discussion Time
Assign one moderator/scribeTalk through the issues identifiedShare ideas−15 minutes discussion−~10 minutes to share
© 2013 Crain Communications Inc
15-16 MAY 2013
Your AssignmentDetermine - Where on the risk matrix would this risk sit? How this could have been avoided in the first place? What steps to take now to minimise the damage? What steps to take with other programmes to ensure there
will be no problems in other areas? How to minimise the chance of it happening again?
© 2013 Crain Communications Inc
15-16 MAY 2013
Time to share!
Which Case Study? Where on the risk matrix would this risk sit? How this could have been avoided in the first place? What steps to take now to minimise the damage? What steps to take with other programmes to ensure there
will be no problems in other areas? How to minimise the chance of it happening again?
© 2013 Crain Communications Inc
15-16 MAY 2013
SIA recommended answers to each case study
Where on the risk matrix would this risk sit?− High Risk Avoid and Reduce
How this could have been avoided in the first place? − Take a sample of Independent Contractors across a variety of staffing
firms/MSP’s and request copies of full documentation− Conduct regular reviews taking into account any new legal or other
market developments− Regularly conduct credit checks on your suppliers/MSP’s (Global Pharma)
© 2013 Crain Communications Inc
15-16 MAY 2013
SIA recommended answers to each case studyContinued What steps to take now to minimise the damage?− Review all Independent Contractors operating in the country concerned,
as your immediate priority, ensuring they have the correct documentation/visa to work in the country
− Request proof of tax/social payments, where applicable, and ensure no illicit offshore tax schemes are being used
− Ensure the solution is up-to-date and not obsolete or illegal− Liaise with MSP/Staffing Agency/PEO/Umbrella/Contractor Management
Company concerned to rectify the situation May be prudent to remove the workers from site
− Move existing workers to new MSP/Staffing Agency/PEO/Umbrella/ Contractor Management Company immediately (Global Pharma)
© 2013 Crain Communications Inc
15-16 MAY 2013
SIA recommended answers to each case studyContinued
What steps to take with other programmes to ensure there will be no problems in other areas?− Identify standard types of risk on a thematic basis− Prioritise those risks based on the extent of exposure country-by-country− Formulate a risk response− Control and monitor your risk− Obtain credit checks on current suppliers (Global Pharma) − Use a financial model to screen and monitor suppliers (Global Pharma)
© 2013 Crain Communications Inc
15-16 MAY 2013
SIA recommended answers to each case studyContinued How to minimise the chance of it happening again?− Set up your own Risk Assessment Programme
“Understanding Contingent Workforce Risk and Developing a Global Risk Assessment Framework”
“Developing Your Contingent Workforce Risk Management Strategy”− Use a financial model to screen and periodically monitor suppliers who
play a critical role in your workforce solutions – Professor Edward Altman’s Z-Score for example (Global Pharma)
“Supplier Financial Risk Evaluation Tool” and “Summary of Financial Ratios worksheet”
© 2013 Crain Communications Inc
15-16 MAY 2013
Pass worksheets forward
We will send the aggregated responses out with the final session Powerpoint
© 2013 Crain Communications Inc
15-16 MAY 2013
For more information CWS Council members can download the full reports:− “Understanding Contingent Workforce Risk and Developing a Global Risk
Assessment Framework”− “Supplier Financial Risk Evaluation Tool”− “Developing Your Contingent Workforce Risk Management Strategy”