The New Type of Talent
Much has been said about the workforce of the future. Business leaders are now well aware that the 9 to 5 isn’t going to be the norm for some workers. The rise of automation and artificial intelligence (AI) will shift some jobs and replace others. There will be more focus on transferable skills and lifelong learning.
Then, advances in cloud computing means remote work is more of a possibility. People have responded in kind, with contracting and freelancing on the rise. Finally, market pressures, increasing customer demands and globalisation are making organisations tighten their belts and find more agile ways of working. So, traditional, fully fixed-cost workforces are going out of fashion.
Introducing the new workforce
That leads us to the new workforce. One that is agile and powered by many different kinds of workers. Leading organisations are already moving towards this model. 91% of companies already use a combination of internal and external talent. At organisations with less than 1000 employees, external talent makes up a third (on average) of the total workforce.
The many types of workers
For hiring managers, there has never been so much choice when looking for someone (or something) to complete a task. This includes:
- Permanent full time and part time employees
- Apprentices, interns and other trainees
- Alumni who have retired
- Alumni who are working for other companies (tying into boomerang employees)
- Freelancers/gig workers
- Employees actively engaged with the organisation
- People you want to recruit
- Technology ie: robotics and automation tools
Together, these different options are known as your Total Talent.
Total Talent Management
But with numerous choices, comes more complexity. For managers, the sheer amount of options may prove bewildering. That’s where Total Talent management comes in. It offers a way for organisations to engage with their Total Talent, whilst finding the best option for getting work done.
That may involve hiring a permanent employee, getting a contractor, asking an alumni to return for a short time or using automation. By placing your Total Talent on one platform, you can resource projects effectively, speed up recruitment of permanent employees, improve internal mobility, retain company knowledge and identify skills gaps.
Doing their best work
Total Talent management considers all the factors that drive people to do their best work. Assigning someone a project that closely aligns with their future career goals will produce better results than if they had little-to-no interest in the task. Similarly, offering an internal worker the opportunity to work in a different department on a stretch assignment will help them learn new skills and may improve retention.
Switching between work styles
Some employees may switch between the different work styles within Total Talent. A permanent worker may decide to semi-retire or become a freelancer. In the past, their experience and knowledge may have been lost to the organisation. But with a Total Talent approach, organisations can keep hold of it – giving a competitive edge in the knowledge economy.
Addressing today’s workforce drivers
Offering more flexibility with work styles complements the changing drivers of today’s workers. One of the top things considered important in a job, after pay, is the ability to work flexibly. Millennials, in particular, are most likely to desire flexible working options especially after starting a family. Given that they will make up almost half of the workforce by 2020, business leaders must find more ways to meet these needs.
Plus, there is the increasing skills gap to consider. Organisations are having to look at other ways (beyond permanent recruitment) of hiring the skills that they need to complete tasks. Total Talent helps immensely with this. By considering every way of getting a job done, organisations are not limiting themselves within an already scarce talent pool.
Evolving with your workforce
Evidently, the workforce is drastically changing and organisations must evolve alongside it. Gone are the days of permanent employees sitting within the same office. Whether you know it or not, your workers come from many different backgrounds with varied employment statuses. Some may not be human at all.
The industry leaders of tomorrow are the ones who realise this reality and completely embrace their Total Talent – today.