Adopting a total talent management strategy means taking an holistic approach to your full-time and contingent workforce—and that requires insight and clarity. Having a clear understanding of your organizational structure through org charting is essential and generating holistic analytics is key to making the right decisions.
Here are the questions you should be asking yourself to ensure that you’re making the best use of your business strategies.
There are two ways in which org charting and analytics can help to manage your workforce:
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You should think about the key performance metrics that you want to analyze to help you determine if the program is successful. These KPIs will be specific to the requirements of each individual organization.
Here are seven questions you should ask to help you define what you should be tracking:
Regardless of their employment status, define who they are and where they sit within your organization. Determining your hierarchy will help inform you of the talent you currently have available and where you will soon have vacancies to fill.
Think about how much you’re spending on capital and financials for salary and hourly work throughout your entire organization, regardless of employment type. The benefit of having a total talent management strategy in place is that you’re more likely to have access to the exact financial information and understand what your spend is across your organization.
Look to historical data to find out how roles were filled. This can provide you with the insight to determine whether a role should be sourced through your VMS or your full-time tracking system. This historical data will inform how the talent can be best sourced, if, for example, you can fill a contingent role in half the time as a full-time role. Your data will help you to determine which type of employee is better for each position.
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Consider what full-time and contingent roles you currently have open, and whether you can fill them with the skills you have within your organization. You may already have the talent you need and, if not, you may need to hire new talent to fill these open roles.
Assess whether your full-time or contingent workers are currently doing a better job in their roles and what is the job and skill quality across full-time and contingent. This will help with your sourcing strategy of specific skills and projects that are better for full-time or contingent for roles in the future.
Gathering information on candidate attraction and retention rates can provide useful insights into what’s currently working within your organization and where there’s room for improvement.
Digging deeper into the data, you can also use it to inform the following:
You may be seeing a trend in the data that suggests a position is moving towards becoming more contingent as more workers may want to become flexible and move into the contingent roles you have available. Think about your open positions and the talent that’s needed to fill them.
You can use this information as the basis to:
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It’s important to measure the cost-effectiveness of the position. Is it more cost-effective to have that position filled through your contingent or your full-time program? Equally, what will be the most effective way to fill the role? Will you be delegating the hiring to an outside agency or taking direct control of the process?
Use the data to track compliance expiring across all positions. You can use this to highlight workers with licenses or certifications that will need to be renewed in the near future and ensure your organization stays fully compliant with all regulations regardless of employment status.
Taylor Ramchandani – VP of Strategy
Taylor Ramchandani is responsible for the management and strategic planning of the VectorVMS vendor management system. Taylor is committed to client satisfaction and to ensuring VectorVMS technology meets the current and future needs of clients and managed service providers (MSPs). She uses market research and in-depth industry experience to create products and services that make extended workforce management efficient and intuitive. Taylor oversees product development, marketing, and business partnerships for VectorVMS and is responsible for driving innovation for contingent workforce management. Connect with her on LinkedIn.