Across retail, IT, media and insurance industries, we deliver tools that allow companies to implement an agile workforce model which ultimately allows them to operate functions better , faster and cheaper . The software aims to create a kind of unified interface for managing an extended workforce that can include a variety of workers with different employment status, from contractors and freelancers to full-time employees. As many companies work with contractors — and a lot of companies are already tapping a much wider swath of workers that aren’t full-time employees — software for managing extended workforce could be increasingly valuable. The company markets its online platform and marketplace directly and through partnerships to business that work with and leverage freelancers, contractors, and consultants as part of their overall talent strategy.
Irrespective of the value, it fetched, it deserves to be celebrated. I also want to acknowledge Stephen and the senior team of Grady Leno, Jim Chou, Marcy Shinder, and Tom Benton. As I said, this is an amazing team and it has been a pleasure to watch them build the product, market, and customer base. The team is passionate about redefining the labor model for the 21st century and creating the best solutions for our customers. Historically low rates of unemployment suggest that CWM might not be as attractive as it seems. But then recent figures suggest that job creation in the U.S. is declining. Savvy management will use CWM as a no-risk way of testing candidate suitability in key areas and, in the short-term, that might represent a better opportunity for the combined business than the pure ‘agile/flexible’ argument.
It seemed like a timely opportunity at the time and it was. Eight years later the SAAS contingent workforce management market is in the hundreds of millions of dollars annually and WorkMarket is the creator and leader of it. CEO and Founder Jeffrey Leventhal conceived of the idea for WorkMarket after founding and selling OnForce, a previous online marketplace business he started that helped manage IT talent. His industry experience led him to believe that there was an opportunity to provide a more efficient method for hiring and managing 1099 contractors. To form a founding team, Leventhal agreed to partner with Jeffrey Wald.
Manage
Any contractor managing service work and large, production jobs looking to streamline their business in a single system. IT and business leaders looking to quickly deploy sophisticated mobile data collection and business process applications. Drive digital innovation via no-code workflow automation and integration. In the last several years, as new technology has emerged and societal dynamics have changed , freelancing has gone mainstream. Over one third of Americans participate in the freelance economy — and that number is expected to continue to grow. Firms have become increasingly reliant on contingent workforces to become more operationally nimble, more globally competitive and more specialized. ● Easily manage and pay all your contractors from one dashboard.
We’ll have to await ADP’s next regulatory filing for clues on this aspect. Prior to the acquisition, WorkMarket raised some $66 million in venture funding, including a later stage investment from Accenture. Provide remote technical support to customers through an electronic and telephonic ticketing platform.
By Adp
Automatic Data Processing, Inc. (“ADP”) provides cloud-based human capital management solutions for 700,000 clients around the world. One of the largest providers of HR services in North America, Europe, Latin America and the Pacific Rim, the company’s comprehensive recruit-to-retire services are used by more than 70% of Fortune 500 companies.
Create a central repository and know how and Certified Public Accountant where to engage your new contractors.
Both companies and workers use WorkMarket’s dashboard to manage current assignments. Workers can use the mobile app to find and manage assignments. A platform that enables companies to efficiently and compliantly organize, manage and pay their extended workforce.
WorkMarket aligns itself with bright minds and has previously offered freelance, temporary, and 100% remote jobs that can be done from any region of the United States. Past opportunities have included customer service, call center,software Workmarket, An Adp Company development, and other jobs featuring part-time and flexible schedules as well. Headquartered in New York, New York, the company has additional offices in Huntington, New York; Lexington, Massachusetts; and Toronto, Ontario, Canada.
Seeking remote part-time customer support representative to support users through ticketing platform. Having a computer with high speed internet access is required. The acquisition expands ADP’s portfolio of payroll and human capital management solutions and provides its client base with tools to manage and have insights into the modern workforce. “The WorkMarket team is thrilled to be joining ADP,” WorkMarket co-founder and President Jeff Wald said in a statement. “We share the same vision of enabling companies and workers alike to navigate the changing labor marketplace with greater ease, and we look forward to offering our solutions to ADP’s vast client base.” The idea was to create a cloud based SAAS application to allow enterprises to manage their contingent workforces which were growing in size and complexity.
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● Use your mobile access to communicate with workers on site to address specific assignment issues. Instead of using a Vendor Management System , or third-party vendor, you can engage with your contract talent directly. Easily organize your alumni into different WorkMarket Labor Clouds. Base your groups on skill sets, location, background & more.
With this acquisition, ADP builds on its current portfolio of industry-leading payroll and human capital management solutions that help clients and workers modernize the way work gets done while unlocking productivity, engagement and growth. WorkMarket was founded in 2010 and is headquartered in New York City. Backed by leading venture firms such as Union Square Ventures, Spark Capital and Foundry Group, as well as Accenture Ventures, WorkMarket helps companies manage their integrated workforce in a simple, secure and compliant manner.
According to Mercer’s 2017 Global Talent Trends research, flexible work arrangements are important to employees and more than three-quarters (77%) of full-time employees would consider working on a contingent or contract basis. As the gig economy grows, organizations that prepare for a more fluid workforce will be better positioned to harness growth. This app makes finding extra side work super easy and from trusted, reliable companies. I’m able to apply only for the jobs that fit my skill set and my time frames. 2-month contract opportunity responsible for converting front-end PHP code into JAVA. Requires Java, PHP, Spring MVC and strong constitution skills. Kohana, jQuery and RESTful based web services experience a plus.
- We spent months in the trenches, testing and experimenting with service companies to make the software work specifically for your needs.
- Companies of all types and sizes around the world rely on ADP cloud software and expert insights to help unlock the potential of their people.
- Streamline invoicing and bill processing with intuitive automation and integrate with your other payment systems.
- ● Use your mobile access to communicate with workers on site to address specific assignment issues.
- It seemed like a timely opportunity at the time and it was.
WorkMarket’s innovative solutions include tools to source and vet independent workers, manage their engagements, and pay and evaluate these workers. In addition to offering robust freelancer management functionality, the company has extended its capabilities to help clients optimize how work gets done across any labor type. Their client base spans global brands, as well as small and mid-sized QuickBooks businesses. The rise of the contingent workforce is shaping the global workforce. ADP data shows that approximately 80% of U.S. businesses already rely on independent contractors and the number of contingent workers as part of the overall workforce is growing. According to Gartner, by 2020 nearly 60% of human resource leaders will use a unified talent strategy for employees and contractors.
WorkMarket offers a state-of-the-art technology platform that provides your business the ability to scale in today’s competitive landscape. An HR.com member profile provides you with access to a multitude of information and education along with the opportunity to network with the largest HR community on the web. Unique industry intelligence, management strategies and forward-looking insight delivered bi-monthly. Nobody asks how much money you made last year or have in the bank. That day, for me and WorkMarket, is today and I have enjoyed the ride very much. ADP announced this morning that they have acquired our portfolio company WorkMarket.
The startup raised $25 million from Accenture and Foundry Group in April last year. The most recent funding round valued the company at $72 million, according to PitchBook. Between 2010 and 2017, WorkMarket raised a total of $60+ million in venture funding. ● Create custom reports and executive-level dashboards to evaluate and optimize the performance, coverage and costs of your contractor workforce.
● Use bulk tools to manage, communicate and engage with hundreds or thousands of your contractors all within a couple of clicks. ● WorkMarket’s certified MuleSoft connector offers businesses a new way to connect their on-demand workforces with core enterprise business applications including Salesforce, Workday, Inc, ServiceNow and others. IT channel news with the solution provider perspective you know and trust sent to your inbox. On the one hand, both ADP and WorkMarket havelong-standing relationships with Workday, the runaway core cloud-based HR leader. ADP also has a relationship with Salesforce and, in turn, a deal with FinancialForce.
ADP cited one of its own research studies in the announcement, one that found 80 percent of U.S. businesses use independent contractors in some form or fashion. Building a company is like collaboratively working on a beautiful painting or sculpture. Maybe someone loves the work and is willing to pay a lot of money for it, or it has to be sold at a fire sale, or somewhere in between. Every company and work of art is the birth and growing up of an entity that did not exist before.
● HR admins can seamlessly pull ADP workforce data with a single-click manual import. ● WorkMarket integrates with ADP® to offer empowering employee engagement and collaboration services.
Capitalize on advanced algorithms and engagement rules that allow you to define who, what, when and where your contractors can engage with you. Set parameters around insurance, background checks, certifications, quality and more. Workers who are out of compliance are swiftly prompted with the necessary steps to get back on track and re-engage fast. Please visit our On-Demand Help Center to get help and tips for both clients and workers as well as further support contact information.
Author: Jody Linick