the agile workforce: how new talent models help companies compete
TRANSCRIPT
The Agile Workforce: How New Talent Models Help Companies Compete
Richard D. Gardner,Vice President of Strategic Partnerships
Catalant Technologies, Inc.
$34M raisedGeneral Catalyst, Highland, Greylock, GE Ventures, Mark Cuban
130 employees in Boston
~4 year track record of ~5-10x YoY growth
Working with 20% of Fortune 1000
Our Global Consulting Supplier Network
35,000 experts and firms from 122 countries
Top-Tier Credentials
10,800+ with Fortune 500 experience
1,300+ from Bain, BCG and McKinsey
1,800+ from Deloitte, PwC and Booz
Gone are the days when someone held a job for lie
The way we work is changing
The lifetime “company man” ideal has gone by the wayside. For whom we work...How we source work…
Where we work…
For how long we work…
…are all changing.
Changing competition for talent
Shorter average tenure requires more-frequent talent acquisition and competition
“As many as 230 million [globally] could find new jobs more quickly [by 2025], reducing the duration of unemployment, while 200 million who are inactive or employed part time could gain additional hours through freelance platforms.” – McKinsey Global Institute
Companies compete both with each other and with ‘going independent’ for FTEs
CEOs are feeling this challenge
40% of U.S. companies can’t fill the positions they need
(McKinsey Global Institute)
$10 trillion in GDP will be lost because companies cannot fill the jobs available
(Boston Consulting Group)
More professionals continue to engage in independent work
1991 2015 2020
17%
36%
43%
*Intuit
“It is impossible for anyone in the organization to have all of the best ideas, so we’re leveraging open innovation, collaborative innovation and crowdsourcing to collaborate with experts and entrepreneurs everywhere who share our passion for solving some of the world’s most pressing issues.”
-Leader at Fortune 500 Industrials Company
Human talent extends beyond office walls
11
The “gig” economy has grown exponentially
Gone are the days when someone held a job for lie
What does this mean for you?
The technology and labor trends that are driving the future of work are also changing the way procurement manages consulting.
Challenges with the consulting category…
Lack of supplier visibility Rogue spend Manual offline process
Relationship driven deals Largely inefficient RFP process
Future StateA new consulting procurement solution that uses technology to finally give procurement the ability to access the best suppliers and shine a spotlight on consulting spend and outcomes across their business.
Access to the right consultant at the right time
Elimination of redundant spend
Automated and standardized processes
Value driven deals
Simplified supplier management
Gone are the days when someone held a job for lie
Catalant’s Solution
Only Catalant has aggregated access to the highest-quality talent into a single tech platform and created software to track and manage this group and other talent pools.
Global Talent
Enterprises
Our Global Consulting Supplier Network
35,000 experts and firms from 122 countries
Top-Tier Credentials
5,000+ from top five business schools
10,800+ with Fortune 500 experience
1,300+ from Bain, BCG and McKinsey
1,800+ from Deloitte, PwC and Booz
Catalant offers best-in-class software to optimize spend and
outcomes across consulting engagements
Value
Flexibly bring new skillsets, and
expertise to get more work done
better, faster, and cheaper
Drive savings from competitive
dynamics and improved
compliance among providers
Manage project performance and
spend through reporting dashboard
in real time
Catalant Creates Significant Value for Enterprises
Consulting spending
Cost Savings Productivity gains
New Total$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
Catalant Impact
Cons
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• 26% like-for-like cost savings in our competitive bidding platform
• McKinsey estimates that digital marketplaces improve productivity of spending by 9%
• Overall, this leads to lower spending on third-party suppliers and better outcomes.
Gone are the days when someone held a job for lie
Case Studies
Project
Expert/Team
Savings
Process / value stream map standardization across global supply chain organization
• McKinsey Engagement Manager• Leader of an operations and systems improvement boutique firm• Specializes in biotech and pharma supply chain
Catalant: $250KBig 4 Consulting Firm: $550KSavings: $300k
Fortune 500 Pharma Co.Supply Chain Process Mapping Timeline: 6 months
Project
Expert/Team
Savings
Product configuration optimization in the industrial equipment space
• Engagement Manager in McKinsey’s Global Energy & Practice• Leader of strategy and analytics firm• PhD in Materials Science and Engineering from Northwestern
Catalant: $150KBig 4 Consulting Firm: $800KSavings: $650k
Industrial Equipment Co.Product Configuration Timeline: 5 months
Pfizer powers their “Pfizerworks” program with Catalant
The Initiative • A CPG created an innovation group to operate independently and
find new opportunities to strengthen the company outside their core
• Catalant is a key supplier of bandwidth and expertise as they pursue new areas
The Mission• The innovation group employees work with their Catalant client
strategy associate to pilot and roll-out strategic extensions of their key workstreams
• The group has organized an awareness campaign to continue to push the leverage that they can get from our platform
• The group has organized procurement and legal enablers so business users can be as fast and lean as possible
The Results• The company has completed 40+ projects to date this
year
Sample Project
Market modeling for new products
ObjectiveBuild a flexible model with different scenarios for a new consumption platform
OutcomeMatched with a former BCG project leader who built the model with input from the core team
Expert• Project leader,
Boston Consulting Group
CPG CompanyAccelerating Core Team
Thank You