Total talent solutions are designed to help organizations move away from inflexible, permanent staffing models and find new opportunities to recruit in a different way. Given the widening skills gap and the complications caused by a challenging employment market – the impact of the pandemic – many businesses today need to find a new approach to moving forward into growth. Accelerating the move to total talent solutions opens up a new era of agility and effectively meeting hiring needs in complex conditions.
In particular during the pandemic, we have seen business models severely disrupted, which has led to many enterprises rethinking the options available for workforce planning. Many businesses today now have 30-40% contingent employees within their workforce, and this flexibility is making a significant difference when it comes to closing skills gaps and embedding resilience against future disruption and change. This practical approach is helping many organizations to establish a competitive advantage, even in challenging times.
Why are businesses accelerating towards total talent solutions?
The need to control labor costs. Leaner business models and hiring investment that generates real returns are vital right now. A total talent approach provides options when it comes to hiring on-demand to cater to current need. Freelancers and contractors can help organizations cope with spikes in demand without the need for permanent contracts. Total talent solutions can also be more cost effective, reducing overall workforce and labor costs.
A different approach to talent. All types of workers, whether contingent, permanent or temporary are considered to be a vital asset in a total talent approach and valued on the basis of what they have to offer. Organizations can determine the talent resources required right now and hire accordingly, creating a more tightly tailored workforce strategy that calls on many different worker types. This has many benefits, from attracting higher quality talent to driving growth through a more agile workforce.
Tackling skills shortages. Some industries are suffering significant skills shortages today, and these have the potential to create real problems for profitability and growth. Working with total talent solution providers such as Volt Consulting Group means blending together the people, technology, processes and skills that will support your business and help to avoid skills gaps. It also provides the opportunity to understand more about the organization’s needs and how a different approach could trigger greater progress and growth.
Mitigating risk. This is a big driving factor in switching to a total talent approach. Total talent solutions allow for a shift to a holistic view of the workforce so that workers are correctly classified and management can always see who is working at any time, what they are being paid and the basis on which they have been hired to do the work.
Many organizations today are accelerating the move towards total talent solutions to help tackle not only post-pandemic issues, but problems with skills gaps, the need to keep labor costs under control and optimizing the opportunities that exist in a new approach to talent.