In a competitive market, companies need to make sure they have the best talent available. In the rare case your industry hasn’t experienced a talent deficit, however, it is very possibly on the horizon and you will need to be ready for it.
The speed at which business operates has increased significantly and companies are trying hard to adapt and stay up-to-date, while also remaining lean and managing costs.
The global war for talent is getting a lot more aggressive. Making sure your company has access to the best talent pool is vital to remain competitive, and one of the best ways to manage this is to develop a talent pool.
A talent pool is an actively managed database of past independent contractors and contingent workers who have shown aptitude and reliability within your organization.
Talent quality is near impossible to judge at the outset, and with training, recruitment and workforce integration costs being high, having a readily accessible talent pool ensures you have access to both quality and quick availability of talent. A lot of companies have some form of tracking in place for previous contractors, maybe as a spreadsheet or list. However, in most cases there is no formal process in place, and that's where we can help.
"I've been working for almost 10 years with the HCMWorks' team and I hope to continue for another 10 years. Professional and passionate are few words that best describe this team. They offer excellent overall service and are always available for any inquiries. Their knowledge of the market makes them an asset for the business. I would not hesitate to recommend them."
“The HCMWorks team was the foundation in the implementation of a contingent workforce managed solution which extends from the hiring process to the payment of consultants. For more than 5 years, our partnership with HCMWorks enables us to effectively meet our objectives in accessing a large talent pool, all while controlling our costs.”
"Having had HCMWorks and their team of professionals supporting our contract resources over the past four years has been a pleasure. HCM experts continue to provide solid and consistent resource management, procurement and administration and we appreciate the efforts that they successfully offer. Having them on our team is a huge asset!"
HCMWorks builds and administers your talent pool on your behalf, as a vendor neutral third party, void of any staffing objectives or incentives.
We build your talent pool exclusively for you without any conflict of interest.
We offer our clients a multifaceted talent pool management strategy which brings visibility via reporting and analytics. In addition to this, we assist our clients in managing costs in the context of current market rates. Additionally, included in our program are processes that mitigate the risk of misclassification and co-employment of your contingent workforce.
Why not actively complement your total workforce management strategy with a talent pool of tried and proven professionals from past engagements who are available when you need them, at the best price?
This proprietary source of talent, which belongs to you, originates from multiple sourcing channels and is centrally organised to include past employees, retirees, contractors, alumni, retirees, etc.
To discuss your talent pool management needs, feel free to contact one of our contingent workforce advisors.
Read this case study and learn how we helped save 23% in contractor labor costs for this client.
Our talent pool solution included:
Last year at HCMWorks we wrote an article about a study by The Economist that found the demand for contingent workers would skyrocket over the next five years, with more than 61 percent of top bosses expecting the use of contract labour to increase.
The report surveyed executive decision-makers at 210 US and UK companies with at least 2,000 employees, finding that contingent workers account for more than a fifth of the workforce at over half (58 percent) of those businesses. A figure set to grow over the coming years.> Read More
The contingent workforce is always changing. Whether it’s the growing pool of workers, new methods of sourcing talent, changing workforce laws or optimizing your contingent workforce management program, there is always something new to learn and implement.
Making sure your organization stays on top of these changes is a crucial element of ensuring your contingent workforce is consistently optimized so that it can maximize results for your business.> Read More
Organizations have significantly increased their use of contingent workers over the past decade, helping to compete with rising labour costs, improving access to top talent and adapt to rapidly changing market conditions.
In fact, new Ardent Partners research shows that 41.5 percent of the average enterprise’s total workforce is considered non-employee, which includes temporary workers, independent contractors, professional services, gig workers and freelancers.> Read More