HRO Today quoted PeopleScout Global Leader of Growth and Strategy Michael Yinger in its recent article, Seeing 20/20. The article covers the growing trend toward total workforce solutions.
“A total talent strategy provides companies with a broad view of the workforce across different labor classifications and departments,” Yinger told HRO Today. “That level of visibility allows organizations to gain consolidated intelligence into their workforces and helps them evolve in the competitive talent landscape.”
PeopleScout’s Total Workforce Solutions blend MSP and RPO capabilities in one integrated program to increase efficiency and visibility into an organization’s talent acquisition program. Total Workforce Solutions take a more holistic approach to workforce planning and strategy, helping organizations reduce agency spend and improve strategic procurement to meet workforce demands.
“By evaluating the current workforce mix and costs, leaders can understand cost discrepancies through different functions of the organization,” Yinger told HRO Today. “For example, an organization may discover it has long-term contractors with bill rates that are double the cost of a permanent hire.”
Here’s an excerpt from the article:
Today’s talent ecosystem offers more options for employees than ever before. From online freelancing platforms to crowdsourcing efforts and traditional contract engagements, the contingent labor market is experiencing a revolution—and businesses are struggling to keep up.
According to Ardent Partners’ 2017-2018 State of Contingent Workforce Management study, 40 percent of today’s total global workforce is comprised of non-employee talent and that number is only expected to rise. However, 68 percent of this talent is unaccounted for in the average organization’s budgeting, planning, and forecasting.
How can companies seize these opportunities and embrace the workforce of the future head-on? One approach is to adopt a total workforce solution (TWS).