Manage your externals with the same rigor and care as your employees!
With the ever-changing talent landscape, the rise of the gig economy and financial pressures on enterprises, Total Workforce Management can unlock the flexibility and continuity that every organization during the COVID-19 pandemic needs.
Organizations are used to rely on many types of talent well beyond the traditional employee to meet their business objectives – from contingent workers to SOW consultants to freelancers.
This trend is accelerated with the COVID-19 pandemic context.
A recent study conducted by Gartner revealed that 32% of organizations are replacing traditional employees with temporary talent as a cost-saving measure.
Boundaries between external resources and internal workforce are blurring
Furthermore, COVID-19 has unbalanced nearly every business around the globe and on one side many companies must cut jobs while others, such as e-commerce companies, have faced an exceptional demand.
On the other side, fear and caution, and governments rules, have prompted companies to let employees working from home.
These changes have led to the fact that the boundaries between external resources and internal workforce are blurring.
This is where Total Workforce Management (TWM) comes into play.
Total Workforce Management is a model of Talent or Workforce management that includes an organization’s management of “permanently hired” workers as well as “contingent” workers. TWM seeks to integrate the respective management of “permanent hire” and “contingent” workforce by Human Resources and Procurement functions.
Total Workforce Management comes with many benefits
Now is the right time to implement a Total Workforce Management. It requires investments and a professional change management, but it delivers great benefits:
- Enhanced visibility into the total talent pool
- Intelligent decision-making
- Reduction of overall labor spend
- Enhanced alignment between projects and the talents required
- Seamless processes from requisition to project completion
- Better quality of data regarding all enterprise talent.
With the ever-changing talent landscape, the rise of the gig economy and financial pressures on enterprises, Total Workforce Management can unlock the flexibility and continuity that every organization during the COVID-19 pandemic needs.
We at ARAGO Consulting help our clients to meet internal and external compliance requirements, to create transparency about external resources and to generate savings.
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Read also: Total workforce management: how do you manage external workforce and services procurement resources?
