As the Industry get ready to embrace the digital disruption in the artificial cognitive era, more and more business are getting creative in their workforce strategy and adapting to diverse workforce models which is more often seen to have a significant external workforce. This external workforce could be a combination of acquired short term temps, independent contractors, freelancers or outsourced to services/ contingent workforce providers. These Cognital Workforce strategies increases flexibility and competitiveness achieving greater scalability for Business.
While there are lot of benefits to Business adapting to Cognital Workforce models such as reduced permanent headcount and HR costs, it is observed quite often Business/ HR does not have good grasp of compliance issues/ risks associated with contingent workforce and managing complex labour and tax laws. This may expose the Business to financial/ criminal risks resulting in reputational damage. Hence Business must fully understand this implications and establish appropriate procurement policies to safeguard its image.
Whilst there are lot of service provider in the market under the Managed Service Provider (MSP) offering management of external resources and sourcing through third party agencies/ vendors we manage all this procurement in-house mitigating the Business exposure to the finance/ legal/ HR compliance risks. Under our offering the Business will have the freedom to identify new temporary resources and engage us to manage their Payroll or simply outsource the contingent workforce procurement to us.
Invictus Cognital Project Management Office (PMO) can help you address avoiding the disconnect between HR and contingent workforce by being your Business Partner to manage contingent workforce under a subcontracted consulting/ services agreement. Under this offering we will own the HR responsibility to align with your business policies around outsourcing and region specific compliance requirements supporting the directly the Project and Portfolio Management (PPM) team responsible for developing new products/ services for growth and scalability.
Through this service Invictus Cognital under a subcontractor agreement will establish a PMO to deliver requisition management, sourcing, evaluation, engagement, salary payment processing for contingent workforce. The PMO will drive streamlining of processes and procedures, identify cost savings, risk mitigation, speed & reliability to deliver scope and enable client to better optimize their internal team through additional support of contracted variable workforce.
They key differentiator between BPO, RPO and PMO is in BPO you outsource a complete process/ function eg IT Support, in RPO you're receiving the service to manage delivery yourself example your HR engaging RPO to provide a temp staff/ independent contractor resource which will be working as per direction from your Business whereas PMO is a hybrid combination of both where we work as an extension of your Business, managing process/ function as per your business requirement eg establishing a PMO to manage IT support using external resources.
Business Owners who want to expand their team for specific projects/ digital skillset shortage to develop new products/ services but do not want to commit to long term hire due to internal budgetary constraints can leverage our customised solution to save on time and cost but without compromising on compliance. Invictus Cognital PMO under this agreement will take ownership of following key HR Compliance Management and Contingent Workforce Procurement Compliance items on your behalf.
1) HR Compliance Management
a) Post placement contractual engagement compliance
b) Client/ customer on-boarding of contingent workforce
c) Timesheet Processing and issuing payslips
d) Payroll admin and PAYG summary
e) Payment of insurance, super, payroll tax and other statutory charges
f) Region specific tax/ legal compliance as per Business HR policies
2) Contingent Workforce Procurement Compliance
a) Overall procurement governance for Client’s project and portfolio
b) Giving work orders and instructions to contingent workforce
c) Tracking and reporting delivery management
d) Quality and performance management of contingent workforce
e) Billing and invoicing management as per Statement of Works
f) Operational expense consolidation and optimisation