Our workforce landscape has shifted dramatically since the great recession. Are you prepared to address the “New Normal” and ensure you have the strategies in place to procure your most prized resources: Talent?
Talent is the lifeblood of any organization; without it you have no product, no services, no customers. The Talent War is real; and will continue to worsen as 10,000 baby boomers leave the job market each day, and the demand for highly skilled workers in a new knowledge economy outpaces supply, particularly in STEM (Science, Technology, Engineering, and Math).
Companies that do not constantly innovate could be overtaken by competitors. This dynamic is truly “flattening” (if not tilting) the global labor market—in particular, for skilled, knowledge workers. We can expect more and more engagement of “critical talent” in businesses in more and more places in the world. There is also substantial complexity engaging this global workforce that must be accommodated.
The temp workforce population (IC’s, Gig Workers, and Contingent labor) is growing at an unprecedented pace; it’s expected to be almost half our total workforce population by 2020. The majority of these workers have chosen this path willingly. Why? Where, and why workers choose to make a living has changed. There are social and behavioral changes; people no longer staying at one job forever. Workers are seeking more flexibility and pursuing more opportunities to spend time with their loved ones and looking at greater work-life balance. The millennials want interesting projects and dynamic work environments. The fluid, flexible nature of using temporary workers is very attractive in a changing environment; for workers and the organizations who hire them.
We are consuming work in different ways today. The key differentiator for your business, to leverage this new normal and ensure a high performance workforce is Technology. Embrace the Technology Revolution! Historically, Technology has incorporated constant change and innovation in its business model. That makes it ideally suited to support a workforce landscape that is morphing and changing as well. The depth and breadth of technology solutions available today is dizzying and unprecedented; VMS, Freelancer Systems, RPO, Smart Recruiting Systems, Human Cloud, Artificial Intelligence Sourcing and HR systems, Staffing Data and Analytics Platforms, etc. Over the past couple of years, over 60 new technology providers have entered the workforce management market and those numbers will most likely continue to climb.
These technology solutions are providing access, procurement, and onboarding for multiple, high quality, talent pools across the globe. Technology is enabling hiring managers and workers to manage and complete work arrangements. These solutions use algorithms and Artificial Intelligence to eliminate recruiting and sourcing steps, to curate, recruit, and ensure high retention of high-quality talent. They provide smart data and analytics to help drive your business. VMS, Human Cloud, Workforce Intermediary Platforms, Big Data and Analytics, are key technology drivers towards changing how we source, vet, measure, and leverage talent.
The right mix or “ecosystem” of technology solutions is unique for every organization. Leveraging technology solutions to expand your talent supply chain and ensure you have access to top talent that can be procured quickly, cost effectively will provide you competitive advantage.
Want to learn more? How will you be leveraging technology to recruit, engage and retain top talent? Register for the CXC “Future of Work is Now” Globalization and Future of Work Forum” http://cxccorporateservices.com/cxc-future-of-work/ and get ahead of the curve; as they say. “Knowledge is Power.”