Despite the economic slowdown of the past year, the talent shortage hasn’t gone away. In fact, the latest data from the U.S. Bureau of Labor Statistics points to an ongoing talent crisis. Labor demand now exceeds labor supply by approximately 2.7 million jobs.

Now, with aging demographics indicating slower labor force growth over the long term, savvy organizations are reevaluating and reimagining their workforce strategies. That reexamination allows businesses to meet talent where they are, rather than forcing workers into a one-size-fits-all employment model. This broader thinking, specifically considering their contingent workforce, can completely change the talent game.

Building Total Talent Success

There are significant benefits in leveraging contingent workers. Flexible work arrangements offer organizations better control of labor costs by delivering just-in-time skills and talent when and where work needs completing. Such arrangements can boost productivity and enrich organizations’ talent mix by applying outside expertise in a high-quality manner to accomplish mission-critical tasks.

Developing A Contingent Workforce-Friendly Culture

Leading-edge organizations understand that getting maximum advantage from contingent work requires investment in developing an internal culture that embraces the full range of talent working for the company. From company branding to worker engagement initiatives, leaders will see greater success when efforts are inclusive of all workers.

Read the full article at https://bit.ly/49h0GIW

Source: Forbes