Traditional approaches to work and managing the modern workforce are becoming less impactful and will eventually become obsolete. Today’s global market feeds on agility, flexibility, and innovation; enterprise programs related to workforce management must be transformed in order to keep pace with the talent evolution. Total workforce management represents the next wave of progression in the world of work, building on the paths tread by a growing contingent workforce and increasingly-blended makeup of enterprise skillsets. From total talent visibility to enhanced workforce intelligence, the multifaceted impact of total workforce management, which includes agile reactions to new skillset-based needs, is a powerful concept that will soon represent the future of business talent.
One key path to total workforce management is the criticality of talent-based data and intelligence. Ongoing data collection, analysis, and transformation into true talent intelligence is crucial for executive planning. Consistent and ongoing data collection should be a critical requirement within the realm of total workforce management today. Questions such as “What is our total talent headcount?” and “How is my workforce distributed?” can be tough inquiries to answer for even the most advanced organizations. Integration between key systems within the technology ecosystem, particularly Vendor Management System (VMS) and human capital management solutions and suites, helps to bridge that intelligence gap. In today’s talent-driven world, businesses must look to this type of integration to fuel real workforce knowledge and help their leaders understand the current impact of talent, the mix within its blended workforce, and how to forecast and plan for future workforce needs. Data related to learning, development, SOW-based projects, budgets, candidate profiles, etc. is all helpful for achieving this core goal.
Over the long-term, total talent data and intelligence will be critical as the concept of the Future of Work becomes more prevalent (and, in short time, a reality). The Future of Work is founded on the dynamics of talent, artificial intelligence, robotics, mobility, and the evolution of physical location modeling (i.e. co-working or “hot-desking”), as well as the means to which global businesses react in an agile manner to new and exciting corporate challenges. Data plays an increasingly crucial role in the future of work: total talent intelligence will help current and future business leaders to dynamically react to mission-critical pressures in real-time by engaging, applying, and addressing the most efficient and idyllic (from a requirements standpoint) talent for any given initiative. The Future of Work depends on TWM and its ability to produce true total talent visibility and intelligence.
Editor’s Note: If you’re interested in learning more about the progressive workforce model discussed in today’s article, download our latest report, The Modern Guide to Total Workforce Management, by clicking here, here, or here.