Total Talent is a term that you’re going to see more and more. More organisations, including Gartner and Raconteur, are now speaking about it. However, Total Talent is a relatively subjective term – you’ll get a different definition depending on who you speak to.
To help clarify matters, we took a look at Total Talent, it’s definition and the benefits for business leaders, in a new white paper. Here’ s an overview of our Total Talent definition to get you started.
What is Total Talent?
In short, Total Talent involves all the external and internal ways of completing a task. It includes your permanent workforce (full-time and part-time employees), non-permanent workers such as contractors, freelancers and alumni, and people who want to work for you (those in your recruitment chain). It also includes non-human ways of completing a task, such as robotics or automation.
To manage your Total Talent, you need to have complete visibility on all skills and capabilities. This includes hidden skills that workers may have developed through extra training, side gigs or volunteering. Knowing the ambitions of each worker is also key to offer work that aligns with individual career goals and motivations.
Managing Total Talent is about completing a task in the best way (and discovering that way quickly). It demands a cultural shift, where managers understand that hiring a full-time worker may not always be the optimum way to complete a job. Instead, they have a myriad of options available: they could turn to a permanent employee, someone undertaking a stretch assignment, a freelancer, or an alumni who returns for one project or automation. Organisations need to equip their procurers and hiring managers with the right tools and information to make these choices.
How Total Talent can help you
Organisations that manage their Total Talent benefit in many ways, from cost-savings to a more engaged workforce. Indeed, workforce trends are moving towards more agile working and greater flexibility. Organisations that fail to address this change will find themselves lagging behind in the battle for the best talent. They will be less competitive and able to adapt to market fluctuations and client needs.
There are many cost savings incurred when you develop a more agile and responsive workforce. Using an on-demand talent pool to fulfil project demands means less fixed costs (salaries and office space) and more new business opportunities. Businesses can pitch for new opportunities, scale more rapidly and commit to more projects without an increase in permanent staffing costs.
React to the market:
Organisations using their Total Talent are better equipped when a client or market needs change. On-demand workers can be brought in as-and-when they are needed.
Getting the best people on a job:
The skills gap is now affecting every industry. 71% of CEOs have concern that a lack of talent will put their business at risk. Breaking down the barriers between the external and internal workforce, and using all skills and technology available to you, will address any skills gaps in your organisation.
Creating a more flexible workforce will also attract the best talent. Understanding the ambitions and goals of each individual, then matching them to similar work, will keep workers engaged with your company for longer.
Holding onto vital knowledge:
When an employee retires, your business loses a vital resource. Similarly, you’re likely to lose critical talent when someone chooses to work more flexibly as a contractor or freelancer. When an employee expresses an interest or aptitude in another area, greater internal mobility means you can switch them into another role. Instead of losing these workers, having a Total Talent management system in place will ensure their knowledge is not fully lost.
Now that we are in the knowledge economy, the experience and skills of your talent is a competitive edge. Therefore, organisations must work with their Total Talent, lining up with their ideal working styles and ambitions.
How to manage your Total Talent
With so many benefits to the bottom-line, managing your Total Talent is a no-brainer for all organisations. However, it is easier said than done. Make sure you get your Total Talent strategy off to the best start by downloading Adepto’s ultimate guide to Total Talent.
Download the white paper today.
By: Jade Emmons, PR & Content Manager