The way of getting work done has changed. The availability of on-demand workforce and the ability to manage work online, have brought seismic shifts in the dynamics of workforce management. Accompanied by the workers' affinity to work at their convenience, the tide of gig economy is rising high.
Adoption of workforce strategy is seeing a radical shift as more employers prefer to hire workers on a contractual basis than to add to their permanent human capital. Strategically, these two workforce management categories fall under the purviews of two different teams, that are functionally diverse.
Despite the advancement in AI and machine learning systems, helping people find the right job and employers find the right talent haven’t become so easy. As Google has announced its plan to include and index jobs in its search results, like the way it does for flights, it will be interesting to observe how Google’s AI expertise could help solve problems for recruiters and companies find the right talent.
There are two tough questions that every recruitment professional should find answer to before making any hire. What and How? What would be the qualities and skills that best describe the perfect fit for the job or the business and how to reach these talent and make them aware and respond to the offer? These two factors combined together make recruitment one of the most challenging human resource related activities. This is also very crucial for any business as it needs great people to build and fuel the growth of great companies.
There was once a time when businesses paid little to no attention or did not even think that their innovation engine can be fuelled by public contribution. Even Henry Ford underrated the potential of the consumers to bring innovative ideas to the table when he contemplated ‘If I had asked people what they wanted, they would have said faster horses’.
Supplier selection for contingent workforce programs have become 40% more procurement-led in between 2005 and 2014, says a Staffing Industry Analysts report. The labor market has become highly competitive, while the wages are going up. Companies need to offer a competitive rate card to hire the right talent, yet reduce the overall program spend.