Have you considered Total Talent Management (TTM) a salient answer to your company’s staffing challenges?
The post-pandemic world of work is but a semblance of what it used to be just a few years ago. The truth is that there are now specific challenges and needs that industries and various sectors face, especially when it comes to staffing. These emerging needs and real challenges only existed several years ago.
Data shows that contingent workforce hiring has grown tremendously in the last several years. Many companies today employ a contingent workforce that is up to 40 percent of their total workforce. Hence, combining a contingent workforce with a company’s permanent employees is already a common practice.
For one, some businesses and organizations are currently widening their hiring of contingent workers in aid of expansion or a seasonal uptick in demand.
In addition, some companies operate in more than one geographical location. These companies often face challenges regarding compliance, brought about by the difference in laws and labor regulations in every geographical area where their employees operate.
Furthermore, talent shortages brought about by globalization called for a new strategy that forward-thinking firms can effectively use to hire and manage top talent.
These are just some unique work scenarios that can be streamlined and resolved by a Total Talent Management (TTM) system.
What is a Total Talent Management System (TTM)?
Total Talent Management (TTM) is the latest innovation from the workforce solutions sector. While not entirely a new concept, it attempts to seamlessly integrate permanent and contingent talent solutions to come up with an all-encompassing approach to holistic talent management.
Total Talent Management is a new method used in talent acquisition and administration. It considers all manner of talent/employee classification in hiring, such as full-time employees, part-time employees, independent contractors, and contingent workers. Total Talent Management offers an uncomplicated merging between permanent and contingent workers insofar as HR and procurement regulations and practices are concerned.
Putting permanent and non-permanent employees into one Managed Service Provider (MSP) can result in much better alignment for the organization – as it will now have only one point of contact – the workforce solution provider. The workforce solution provider then manages all aspects of an organization’s talent management strategy.
Total Talent Management and the Employer Brand
Total Talent Management also intends to do wonders when sharpening your employer brand.
Most companies already have an employer brand. However, it is almost always focused only on permanent employees. With the advent of flexible working arrangements and the ever-changing priorities of workers today, many organizations are left with no choice but to cultivate an employer brand even for their contingent workforce. This also presents an excellent way of promoting company culture and communicating your firm’s competitive advantage.
For all these fundamental realities and necessities, a Total Talent Management system should be implemented for your business to truly navigate the demands and needs of today’s workforce and the changes that will still surely occur. Many organizations find a Total Talent Management system a must for any company – including yours.
Benefits of Having a Total Talent Management System for Your Company
Not just a few companies have given stellar feedback on having a total talent management system. It has streamlined their strategies when it comes to planning, attracting, developing, engaging, rewarding, and retaining top talent. Having a Total Talent Management has also greatly supported them in workforce planning, hiring and onboarding, performance appraisals, talent management, career development, and even in compensation and benefits.
Here are just some of the incredible benefits that your company stands to enjoy by having a total talent management system provider on your side:
1. Savings on Cost
Surely, you can relate to how precious company resources are wasted when hiring managers and employers make wrong decisions about staffing and its related processes. It affects a company’s finances which could have been allotted to other equally important areas such as digital transformation and other worthwhile investments.
However, by employing the services of a Total Talent Management provider, your company will be able to focus its financial resources on expenses and investments that truly matter. Let your provider do the work for you while you oversee the operations and focus on other pertinent business areas.
2. Supplanting Poor Hiring Processes with Best Practices
Throw away passe and inefficient hiring practices, which are already relics of a bygone era. By working with a team of experts in talent and workforce management, you can now easily spot processes and practices that need to be improved or replaced altogether. You also reinforce rules that work for your company and potentially apply them in other areas related to hiring and employee management.
Even better, you can do this regardless of whether your company is in one geographical location or if your employees are scattered worldwide.
3. Faster Delivery of Talent
To say that acquiring top talent nowadays could be very challenging is an understatement. In reality, hiring and retaining top talent can be extremely difficult.
This is primarily why many forward-thinking companies have partnered with Total Talent Management providers. For one, they have better access to top talent because they gain much better access to the large and diverse talent pool that is out there. Total Talent Management providers are experts in proactive hiring and are well-equipped with industry knowledge and hiring trends. In this manner, you can navigate the global target shortage effectively.
4. More Efficient Workforce Planning
Is your company all set to expand? Are you in the middle of an organizational transformation?
More often than not, companies that are about to scale up face myriad challenges regarding workforce planning. This is especially true if your workforce is scattered across various geographical locations and time zones.
Get the load off your shoulder by collaborating with an efficient Total Talent Management system provider who can focus on better workforce planning as you scale up and transform your business. As a result, you can also increase your company’s overall productivity.
5. Greater Visibility on Your Workforce
There is greater wisdom for hiring managers and C-suite executives such as yourself if you focus on the forest instead of the individual trees. You cannot spread yourself too thin in your organization. This is why Total Talent Management System providers often rank very favorably among members of the C-suite and hiring managers. It just streamlines all the work for them.
You are assured that every aspect of talent management is covered efficiently. You may even consult your Total Talent Management provider about staff training and development, the formation of more strategic partnerships, branding, and the best and most up-to-date insights on talent acquisition.
Are you ready to collaborate with a Total Talent Management provider to support you in transforming your business or organization? Choose an expert in the field, such as Davis Companies.
Let Davis Companies help you manage your workforce – whether they are primarily permanent employees or contingent workers. Catapult your company to new heights with the help of Davis Companies. Talk to us today!
