The business world is changing. Seemingly by the day, new technologies and strategies are redefining how work is done by pushing today’s enterprises into exciting territory as they seek competitive advantages and fresh sources of business. Within this scenario, the very notion of “talent” is actively shaping how far enterprises can go in terms of innovation, growth, and ultimate business expansion. Talent is today’s most valuable commodity, and as globalization takes its hold on businesses across the world, the dynamics around talent are being revolutionized.
To get a better understanding of this talent and how it is accessed, managed, and optimized in today’s business world, Field Nation contributed to the underwriting of a report conducted by Ardent Partners on “The State of Contingent Workforce Management 2015-2016: The Future of Work is Here.” This report covers the evolution, assessment, performance, and recommended strategies for contingent workforce management leaders so they can improve overall customer workforce management operations and results.
In the previous section, we discussed advanced and emerging solutions in computerized workforce management (CWM).
Is Total Talent Management for Real?
The contingent workforce management realm has been trending in a new and exciting direction, where the convergence of personal, political, economic, and social arenas shape
the very “future of work.” As the non-employee workforce continues to grow and thrive, organizations will seek a revolutionary approach towards managing the “blended” talent
across their businesses.
“Total talent management” entails the centralized and standardized management of all types of enterprise talent (both traditional and non-employee) under a single banner
program that relies on linked capabilities and integrated CWM and human capital solutions. As shown in Figure 7, there are a variety of benefits that businesses believe can be achieved
via a total talent management program.
- Enhanced visibility into the total talent pool. Which skillsets do we have as an organization? Which freelancers would provide the most value for an upcoming
project? These are questions that can be answered, in real-time, with a TTM program in place. No matter the type or source of talent, executives will hold the
necessary visibility to understand the business’ greater talent resources.
- More intelligent decision-making. With the visibility explained above, every executive with hiring power can execute more intelligent decision-making regarding
the best-fit talent and skillsets for impending initiatives and projects. Specific tasks may require unique expertise, and the proper alignment can be achieved with the
intelligence total talent management affords.
- Reduction of overall labor spend. Although talent is what sets most businesses apart from one another, many organizations can either overspend for resources that do not
drive value or have finances tied up with professional services or independent talent that do not impact key enterprise projects. With a TTM program, executives can
better understand which FTEs and non-employee talent are capable and which are not, allowing them to remove the resources that will not play a vital role moving forward.
Coming up: We will discuss the Impact of Globalization on Today’s Non-Employee Workforce.
Read Part 1 of The State of Contingent Workforce Management… and the Future of Work
Read the most recent entry in the series here.