THE BASICS OF SOW EMPLOYMENT
WHAT IS AN SOW EMPLOYEE
Statement of Work (SOW) engagements will be a much more common platform of work in the upcoming decade. This type of engagement is a relationship between an established talent partner and a client that requires certainty in their project outcomes. SOWs ensure that projects ranging from company acquisitions to technology integrations are completed fully and accurately within a designated time period and budget.
Hiring a SOW employee through a trusted talent partner has multiple value-added benefits in the dynamic market of the new decade. Many employers are identifying benefits like:
- Hiring flexibility; SOW gives employers the ability to scale a workforce up or down quickly
- Bridging the skill gap between highly skilled professionals for a single project
- Increased retention rates through comprehensive benefits packages offered by the talent partner
- Salary budget management as many SOW workers are paid out of the project budget
- Project cost reduction since the employer only pays for talent and management
- Increased accountability of employees as deliverables and SLAs must be met before payment
TYPES OF SOW SERVICES
Statement of Work engagements are as vast and varied as the companies that utilize them, but generally speaking, a SOW employee is hired on a per-project basis where top talent and continuity are required. Effective talent partners offer customizable solutions that bring experience and expertise to ensure successful project outcomes. Services provided can include:
- Customer Defined Solutions
- The client will clearly outline the scope of the project and then the talent partner will provide a project manager and team to fulfill their needs. The client is fully responsible for the daily direction provided to the outsourced team.
- Contractor Consolidation Opportunities
- The firm heading the SOW engagement has the capability to streamline and convert employees that are currently on a contract basis to a SOW model.
- Deliverables / Milestone Based Solutions
- For projects where the result is the key performance indicator; this solution is adjustable to milestones for long term projects that have key points of delivery.
- Service Level Agreements (SLA)
- An SLA is a contract agreement between the firm providing the SOW and the client which maps out what services the firm will furnish and clearly defines service standards.
MINIMIZING RISK WITH SOW EMPLOYEES
There are risks with all contingent workers. However, these risks are minimized in hiring SOW employees. Communication is key in these types of work relationships. Your trusted talent partner must provide:
- Superior communication with both the staff and clients
- Defined processes and procedures throughout the SOW lifecycle
- Specific and attainable deadlines and/or milestones
- Detailed progress reports
Partnering with a trustworthy talent partner for the entire SOW lifecycle can streamline projects and budgets. From developing and managing the RFP process to onboarding, through milestone compliance, and finally offboarding, an established talent partner is a critical resource for successful projects. Subject matter expertise and domain knowledge are key attributes of effective SOWs in an employment market that has become extremely tight in recent years.
WORKING WITH AN EFFECTIVE TALENT PARTNER
AccruePartners Project Solutions is a strategic component of AccruePartners Talent Solutions. Our emphasis is on distinct, customized projects where our clients and consulting leadership can readily define intended results and measure outcomes. By working alongside clients and candidates alike, fostering relationships that surpass the norm, we become a cornerstone for mutual prosperity. With our culture of staffing recruitment excellence, built on a solid foundation for success, we are committed to building people, companies, and careers. Contact us today at 704.632.9955 to learn more or set up a free consultation today.