What is a Statement of Work?
In a Statement of Work (SoW) you record the activities, prices, milestones and timelines for procured services that you have agreed with your supplier. Because an SoW can arise anywhere in your organisation and is almost always classified under a different budget then “normal” contingent workforce, controlling the costs and processes arising from a SoW is very complex.
How does the market for Statement of Work develop?
There is a shift and an amplified appetite for organisations to incorporate the use of Statement of Work (SOW) as a complementary method of engagement. Its core benefit is that an SOW is used to address and ensure specific projects and tasks are fulfilled against agreed value for money and qualitative measures. As the global market stabilises and recovers from the impacts of COVID, we are seeing a rise in interest of Contingent and SOW workers and resources; representing a significant shift again towards task based hiring and recruitment.
Integral management of all contingent workforce
The Nétive mission statement is centred around ‘closing the gap’ across permanent, non-permanent and SOW – providing a level playing field across all human capital domains. Through our agile and component based architecture, we combine applicant tracking (ATS), Vendor Management (VMS), Statement of Work (SoW) and Freelancer Management (FMS) in one truly integrated solution. We see an increased demand for the use of SOW, whereby organisations are able to acquire talent when needed, and remove the bottom line cost when the skills are no longer required. It is a specialised hiring mechanism which, when executed properly will allow organisations to approach their hiring programmes with a greater level of agility, remaining flexible to the needs of their business and customers.
The aim of Nétive SOW is to allow our customers and partners to manage the ever demanding changes of their labour markets, by enabling a compliant end to end mechanism as part of their procurement or management of Statement of Work projects and resources.