What’s Fuelling the Rise of Total Talent?
The way people work has gone through an upheaval in recent years. As a result, so has the way businesses hire their workers. ‘91% of all businesses are using some form of outside talent. Specifically in organisations fewer than 1000 employees, external workers typically make up a third of their workforce’. The combination of an external and internal workforce is part of a concept known as Total Talent. Organisations that tap into all types of talent benefit from the best talent regardless of where-and-how the individual works. They could be full-time, part-time, freelance, contract, an alumni or someone within the recruitment chain. They might not be human at all – the concept of Total Talent also encompasses automation and robotics.
But what’s enabled the rise of Total Talent? What’s leading businesses to adopt this change in work? We take a look at the many developments that have allowed Total Talent to come about and the pressures that are fuelling its rise.
The need for more agility
Business leaders are recognising the need to make their operations more agile due to increased globalisation and market fluctuations. Businesses need to compete on a global playing field and respond rapidly to trade tensions, disruptors and the uncertainty that ensues.
They need to improve productivity and utilisation as a result, which requires full visibility over every part of their talent chain. A recent Capita study found that 60% of business leaders feel pressured to reduce costs and improve productivity. Total Talent provides a valuable opportunity to resolve these pressures, whilst also meeting senior leaders’ desires to innovate and meet client demands more effectively.
Technology is enabling more organisations to move towards a Total Talent approach. Cloud computing has made it possible for people to work from anywhere, at any time. They no longer have to be located in an office to get their work done. Therefore, greater flexibility is now possible and many employees are calling for it in their workplaces.
Then there’s artificial intelligence (AI) and automation. This will change the work landscape dramatically, with significant job shifts and new roles developed. To manage this, organisations will have to rely on transferable skills and experiences.
Workplace drives are changing
Views on how work is completed have shifted. People now expect to fit work around the rest of their lives, and are happy to complete work wherever and whenever it’s needed.
There is greater choice in how people work. Some may choose to freelance or contract for short periods of time. Others may take a sabbatical or semi-retire. Businesses that wish to work with the best talent need to implement an infrastructure that aligns with different work styles. Total Talent management enables this, because people are resourced based on their competency for a job – no matter if they are in permanent, freelance, alumni or semi-retired.
Plus, employees value more learning and development opportunities. 93% of employees would stay at their company for longer if it invested in their career development. Total Talent management can uncover an employee’s hidden skills and career goals, allowing an organisation to offer stretch assignments and roles that line-up with this.
A lack of critical talent
Widespread skill shortages are encouraging business leaders to consider alternate ways of accessing the skills needed to complete projects. Through a Total Talent approach, organisations aren’t limited to the skills of just their internal workforce. Plus, if an employee retires or becomes a contractor, their knowledge and experience is still kept within the organisation.
Work has moved from jobs to projects
In the past, when a manager needed a piece of work done they turned to a full-time employee. But now, work has shifted from being solely job-based to become project-based. With this move, organisations have many ways to complete a project from internal workers to freelancers or automation.
However, it is still a challenge for business leaders to understand and quickly identify the best route to take. Total Talent management systems help with this, by rapidly resourcing from many options. By giving visibility over every person and piece of tech in the talent chain, managers can also quickly see if they are missing a core capability and move to plug the gap.
A ready-made solution
Having visibility and access to all types of talent is the next big thing for HR, procurement and resourcing. Business leaders are realising that they need to utilise their entire workforce better. Organisational agility is now a competitive advantage – and essential for businesses wanting to thrive.
Want to learn more about Total Talent? Download our comprehensive guide to Total Talent now.
By: Jade Emmons, PR and Content Manager