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Nov 30, 2021

What is Total Workforce Management?

Total Workforce Management (TWM) or Total Talent Management is an emerging workforce strategy that gives employers the ability to make better data-driven decisions about which type of resource is most appropriate for their business needs.

A Total Workforce Management System, the technology behind a successful and effective TWM strategy, integrates both an organization’s full-time and contingent workforce to drive these decisions – breaking the traditional barriers between permanent and non-permanent workers.

Employers can no longer effectively manage their workforces in separate silos

Employers today rely on many types of talent well beyond the traditional employee to meet their business objectives. As leaders continue to invest in contingent talent, it’s estimated that nearly half of the average company’s workforce consists of non-permanent workers as of 2020 – a trend that has only accelerated since the COVID-19 pandemic. In fact, a recent study conducted by Gartner revealed that 32 per cent of organizations are replacing traditional employees with temporary talent as a cost-saving measure

The increase of contingent talent, in combination with the management of a traditional workforce, however, presents departmental challenges as Human Resources is typically tasked with traditional employment engagements and Procurement is tasked with engaging contingent workers. In order to bring the management into a central ecosystem, more and more organizations are turning to the technology that powers a Total Workforce Management System.

Total Workforce Management System technology

 

A Total Workforce Management System is an integrated software platform that supports core talent management processes of both full-time employees and contingent workers. This includes recruitment, onboarding, performance management, learning and professional development, remuneration management and succession planning.

A Total Workforce Management System enables Human Resources and Procurement professionals to evaluate time, cost, compliance, quality and quantity of all resources with comprehensive reports.

What are the benefits of a Total Workforce Management System?

A Total Workforce Management System puts organizations in a better position to make data-driven and strategic talent acquisition decisions without silos and fractious processes used by organizations with a less agile approach to hiring. Benefits include:

End-to-end visibility over the entire contingent workforce

Who is currently available on staff to handle a crucial initiative? Which contingent workers are best suited to take on a critical project? The information will help employers find the best match between the project or job role and talent.

A Total Workforce Management System provides employers with total transparency over their workforce. The information gathered grants visibility into who is working for the organization, where the workers are performing the work and the process involved to perform the work.

More intelligent decision-making

When a new need for talent arises, organizations that are quickest to respond, and with greater clarity, are more likely to achieve their business objectives.

Reduction of overall labor spend

Human Resources and Procurement can help employers identify and leverage the best combination of workers, technologies and services across the entire organization.

Enhanced alignment between projects and the talent

By leveraging integrated technologies like online talent platforms, Recruitment Process Outsourcing (RPO), recruiting and a Vendor Management System (VMS), algorithms that match talent can result in a more ideal fit between the worker and the project or job role.

Seamless processes from requisition to project completion

With greater visibility into their workforce and with the use of integrated technologies, employers are able to better standardize and streamline every stage of talent acquisition.

Better quality of data regarding all enterprise talent

Visibility in the form of deep data, intelligence, and insights are critical in today’s highly globalized world. A management system will help employers understand the reach of their talent network and make better data-driven decisions.

Organizations that want to build a Total Workforce Management program must have a fully formed business case to bring to key stakeholders within the organization. To get the critical buy-in needed, stakeholders must be aware of the risks involved in contingent workforce management.

The Key to Total Workforce Management

Achieving Total Workforce Management involves an in-depth assessment of the project or job role and the identification of the appropriate resource – including traditional employees, contingent workers and technology. By leveraging the power of a Total Workforce Management System, Human Resources and Procurement departments can work together to ensure a standardized approach to talent acquisition across the entire organization.

Now is the time to gain Total Talent Management

With the ever-changing talent landscape, the rise of the contingent workforce, and mounting financial pressures on businesses amid the COVID-19 pandemic, TWM can unlock the flexibility and continuity that every business now needs.

Embracing Total Workforce Management is an approach to future proofing your organization, and now is the time to implement it.

This will require investments and change management, but employers will receive the benefit of a workforce transformation in the truest sense. When the contingent workforce, full-time employees and technology are all managed in one talent ecosystem, the results are data-driven decisions that lock in the right kind of resource for the job.

Interested in learning more about the ever-changing talent landscape?

Procom recently surveyed over 1,000 knowledge workers to discover how and where they prefer to work as we enter the new world of work.

The Voice of Talent Report offers actionable insights into what workers expect in relation to mandatory vaccinations, remote work preferences, The Great Resignation, COVID-19 safety measures and more.

Access your complimentary copy to discover how to attract talent in 2022:

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What is Total Workforce Management?

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