By Doug Leeby, CEO, Beeline
The idea of total talent management has been around for decades, but for the most part, it’s been both ambiguous and aspirational. It’s a good idea in theory, and certainly possible in practice, but it necessitates a cultural shift in how businesses view talent.
Largely, there’s still a massive divide between employees and nonemployees both on paper and in management practices. Some of this is warranted due to co-employment concerns, and technology providers haven’t given companies a compelling reason to believe their solution will keep them both safe from a compliance standpoint and strategic from a talent perspective. But that’s changing.
More than 20 years ago, extended workers represented less than 20% of the total workforce; today it’s estimated at almost half (47%). Nonemployees have grown in numbers and influence, and workforce tech providers have struggled to deliver on the total talent promise. More recently, though, we’ve seen that as an industry, we’re using technology to drive us closer to that goal.
For example, we have been very intentional about our path to total talent, and our recent acquisition of Utmost is a big step forward in delivering to our customers a true total talent solution.
Our clients are rapidly changing their workforce dynamics. Now that we’re all settling into the post-pandemic workforce of a permanent hybrid, remote, flexible environment, the workforce is evolving once again. We believe that Utmost’s differentiators are tailored to meet these changing needs.
Several market factors are shaping our enhanced platform moving forward:
- Tight labor market. Companies are still struggling to find talent. Even as our economy is uncertain and executives are cautious about spending, businesses are desperately seeking to hire or hold onto qualified talent. This unpredictability in the market concurrent with the demand for talent is requiring companies to lean into more flexible work models, and companies need a platform to manage that scalability.
- Regulatory landscape. Regulations are changing, particularly for independent contractors. There are also country-specific requirements around contractors and with the remote nature of work, geographical boundaries to sourcing are now lifted, and companies can’t keep up with compliance.
- HR involvement. HR is now more involved than ever with the extended workforce. While at one time procurement was 100% responsible for extended workers, today’s CHRO keeps up with extended workers and employees for visibility, accountability and strategic value. Because HR also typically owns DE&I initiatives, it needs to get close to the contingent workforce and fold those workers into its DE&I strategy.
- Data privacy. Increased regulations around data privacy necessitate better data management on the supply side. From staffing firms, consulting firms, outsourcers and gig platforms to the talent themselves, a better technology solution inclusive of more automation, control and transparency is needed to ensure data privacy is maintained.
We believe that the future of work will be powered by technology that unlocks the limitless potential of every business and individual. To realize that vision, our platform has to meet the needs of every user. And Utmost’s technology is designed to meet these individual needs, including opening up additional opportunities for smaller and midsize companies. Its Global Workforce Intelligence product makes total talent intelligence a reality. Clients can view in real time both employee and nonemployee workforces by location and reporting structure, without the risk of comingling data in one ERP or HCM. It also enables clients to be audit-ready 24/7.
Shockingly, we talk to too many companies that can’t answer the basic question of how many people it takes to run their business. We can give you that answer instantly. We’re excited about welcoming Utmost to Beeline as we continue leading the market into the total talent arena.
To learn how Beeline can help you close the gap on total talent intelligence, contact us at https://www.beeline.com/contact-sales.