2024 Baker's Best - 47

TOP TWS PROVIDERS
What's Driving
Total Talent
As nearly half of organizations plan to explore a total workforce
solution in the next two years, there are myriad benefits to blending
the management of the permanent and contingent workforce.
By The Editors
Amid a rise in contingent labor, organizations across the
globe are grappling with how best to adapt to rapid
changes in the workforce. Whether utilizing independent
contractors to bridge skill gaps or expanding the employee
labor force, organizations are increasingly seeking
total talent solutions to maintain a holistic approach to
sourcing, recruiting, hiring, and onboarding.
With this in mind, Staffing Industry Analysts's 2023
Workforce Solutions Buyer Survey finds that 42% of
respondents plan to explore a total workforce solution
in the next two years. With interest in this human capital
management approach growing, SIA's report Total Talent
Developments 2023 finds that main drivers include
the following.
* Nearly three-quarters (69%) report a growing need
to improve labor costs. Total workforce solutions can
provide cost savings by managing permanent and
contingent workers under the same umbrella through
single service delivery and making talent sourcing
decisions based on value of productivity.
* More than half (61%) report that skill shortages have
resulted in difficulties filling critical positions, causing
a loss in total productivity. Total workforce solutions
provide visibility into the entire workforce allowing TA
and HR leaders to get the most from the talent pool
and cultivate a talent pipeline that is a mix of FTEs and
contingent workers.
* Nearly two-thirds (61%) are looking to leverage total
workforce data by measuring metrics around all types
of talent. Having a single source of data will allow
organizations to get a better understanding of their data
dashboards, providing clarity around skill shortages and
areas for improvement.
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2024 Baker's Best

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