Formulate an Agile Talent Strategy without Reading Tea Leaves | DCR Workforce Blog

Formulate an Agile Talent Strategy without Reading Tea Leaves

Human Capital Managers these days might think they need to take up the practice of tasseography (tea leaf reading) or learn other skills with which they can divine the future. It’s no wonder, considering how elusive talent remains and open positions refuse to fill thanks to the vagaries of the job market; while their performance metrics are closely tied to their ability to the timely availability of required talent.

But they do have a solution at hand! Talent strategies today stress leanness, agility and the adoption of innovative new methods in accessing talent. Non-traditional workforces are in vogue as transformative changes turn workforces agile and on-demand.

Talent pool in the cloud

Once postulated and discussed by industry pundits with vision as a fringe topic at contingent labor conferences and as one of many available options, the gig economy is officially “in.” In fact, “talent clouds” are now very much in the mainstream and being considered THE option for organizations desperate to access the required talent. Talent clouds allow companies to access much needed skills directly and in real-time. This ability has given a quick boost to the popularity of fledgling vendors in this space and encourages companies to put in the necessary process to accommodate this new engagement.

Among the notable recent developments in this space, we’re finding that:

  • Large institutions are as likely as small firms taking up small projects to put large talent clouds together to deliver on major projects. This may not really be such a drastic development according to industry insiders who believe that the practice was very much prevalent before but it was hidden away as a dirty little secret. However, business units are not depending on spreadsheets and their personal Rolodexes (which, today, are as much out of vogue as the practice itself) to manage their on-demand talent pools! They’re now wrapping process around it and making it a corporate asset and an open “secret.”
  • Vendors in the ecosystem, who at last count were more than 300, are offering software and services to gain a choice spot in this space. VMS/MSP companies, such as DCR, are trying to read the tea leaves too, as they anticipate customer needs to create and provide solutions that meet customer requirements and demands and, in some cases, partner with other solution providers to help their customers to build an agile workforce through access to a talent cloud. DCR leads among the vendors who recognize that engaging, warehousing and re-engaging talent directly is an ante for any next-generation contingent labor program. DCR’s Smart Track xCHANGE tool enables its customers to connect to the talent cloud to engage independent contractors and niche providers in an additive fashion to their traditional pool of selected staffing and SOW vendors.
  • The talent is now in the driving seat and choosing to be independent or freelance. Millennials are undoubtedly the early adopters and Generation ‘Z’ are following right on their heels. Their numbers are adding up quickly to the overall talent pool and companies are now ready as never before to access their talent on a project basis.

Companies are gaining a high level of competitive advantage today by leveraging technology to make strategic use of the globalization of talent to access external experts. They’re using new ways to operate in a lean and agile manner without losing access to the required talent to fill critical roles. They’re depending on strategic partners who enable them to evaluate, attract, engage, absorb and support the required expertise to manage them in innovative ways to ensure a lifetime engagement instead of lifetime employment.

Now that you’ve seen there are better ways to run a lean, agile workforce, have you discarded those tea leaves yet?

The content on this blog is for informational purposes only and cannot be construed as specific legal advice or as a substitute for competent legal advice. They reflect the opinions of DCR Workforce and may not reflect the opinions of any individual attorney. Do contact an attorney for advice specific to your issue or problem.
Dave is an Executive Vice President of Business Development at DCR. He and his team work with partners and institutions to establish next generation contingent labor and services procurement programs using Smart Track VMS.