Adopting a total talent management strategy means taking an holistic approach to your full-time and contingent workforce—and that requires insight and clarity. Having a clear understanding of your organizational structure through org charting is essential and generating holistic analytics is key to making the right decisions.
Here are the questions you should be asking yourself to ensure that you’re making the best use of your business strategies.
How to Use Org Charting Analytics to Manage Your Workforce Types
There are two ways in which org charting and analytics can help to manage your workforce:
- Using your HRIS system as a central point for reporting. This would involve importing information for all workers into one system for simplistic reporting within your human resource system of choice.
- Integrating the program data into centralized data warehouses or org charting technology. Having a sophisticated org charting system allows you to incorporate your ATS, HRIS, and VMS into one place as a data aggregator to pull in statistics around cost per assignment, openings across worker types, and filling full-time positions with workers.
MORE FROM THE BLOG | ‘What Are the Benefits of and Barriers to Total Talent Management?’
What Metrics Should You Be Tracking?
You should think about the key performance metrics that you want to analyze to help you determine if the program is successful. These KPIs will be specific to the requirements of each individual organization.
Here are seven questions you should ask to help you define what you should be tracking:
1) Who’s In Your Program?
Regardless of their employment status, define who they are and where they sit within your organization. Determining your hierarchy will help inform you of the talent you currently have available and where you will soon have vacancies to fill.
2) What Is Your Spend?
Think about how much you’re spending on capital and financials for salary and hourly work throughout your entire organization, regardless of employment type. The benefit of having a total talent management strategy in place is that you’re more likely to have access to the exact financial information and understand what your spend is across your organization.
3) How Quickly Are You Filling Each Position Type?
Look to historical data to find out how roles were filled. This can provide you with the insight to determine whether a role should be sourced through your VMS or your full-time tracking system. This historical data will inform how the talent can be best sourced, if, for example, you can fill a contingent role in half the time as a full-time role. Your data will help you to determine which type of employee is better for each position.
HANDPICKED FOR YOU | ‘Reducing Time to Productivity and Turnover in Your Extended Workforce With a VMS’
4) Can You Fill Your Open Roles Internally?
Consider what full-time and contingent roles you currently have open, and whether you can fill them with the skills you have within your organization. You may already have the talent you need and, if not, you may need to hire new talent to fill these open roles.
5) Do Your People Have the Right Skills for the Jobs They’re Doing?
Assess whether your full-time or contingent workers are currently doing a better job in their roles and what is the job and skill quality across full-time and contingent. This will help with your sourcing strategy of specific skills and projects that are better for full-time or contingent for roles in the future.
6) What Is Your Candidate Attraction and Retention Rate?
Gathering information on candidate attraction and retention rates can provide useful insights into what’s currently working within your organization and where there’s room for improvement.
Digging deeper into the data, you can also use it to inform the following:
- Is there a particular manager that workers are finding difficult to work with?
- Does your organization have a skills gap?
- Do you have higher turnover rates on your contingent or your full-time side?
7) Do You Have Talent Mobility Within Your Organization?
You may be seeing a trend in the data that suggests a position is moving towards becoming more contingent as more workers may want to become flexible and move into the contingent roles you have available. Think about your open positions and the talent that’s needed to fill them.
You can use this information as the basis to:
- Select your staffing supplier
- Make adjustments to your sourcing strategy
- Look to your internal talent before posting a job
YOU MIGHT ALSO LIKE | ‘3 Ways Contingent Labor Can Help Reskill the Workforce’
It’s important to measure the cost-effectiveness of the position. Is it more cost-effective to have that position filled through your contingent or your full-time program? Equally, what will be the most effective way to fill the role? Will you be delegating the hiring to an outside agency or taking direct control of the process?
Use the data to track compliance expiring across all positions. You can use this to highlight workers with licenses or certifications that will need to be renewed in the near future and ensure your organization stays fully compliant with all regulations regardless of employment status.
This article was adapted from our webinar, ‘4 Steps to Making Total Talent Management Part of Your Workforce Strategy’. Listen to the webinar to find out more about developing your workforce program and the importance of defining your total talent management strategy. Alternatively, reach out—we’d love to help with your contingent workforce management needs!
Meet the Expert
Taylor Ramchandani – VP of Strategy
Taylor Ramchandani is responsible for the management and strategic planning of the VectorVMS vendor management system. Taylor is committed to client satisfaction and to ensuring VectorVMS technology meets the current and future needs of clients and managed service providers (MSPs). She uses market research and in-depth industry experience to create products and services that make extended workforce management efficient and intuitive. Taylor oversees product development, marketing, and business partnerships for VectorVMS and is responsible for driving innovation for contingent workforce management. Connect with her on LinkedIn.