Holistic Workforce Visibility: 3 Ways It Can Help Your Business

PRO UnlimitedBy PRO Unlimited 10 months ago
Home  /  Best Practices  /  Holistic Workforce Visibility: 3 Ways It Can Help Your Business

While the explosion of new technologies over the last decade has provided businesses with a wealth of exciting tools, these platforms have also exacerbated an existing challenge: data siloes. When it comes to a company’s workforce, these data siloes have made it difficult to take advantage of the tremendous opportunities for savings that exist when a business can capture, visualize and glean insights from its contingent and full-time employee data.

Today, leading-edge solutions are helping businesses break down data siloes, creating new and exciting business opportunities. PRO Unlimited’s Total Talent Solutions, for example, provides businesses with total visibility into both contingent AND full-time resources across the entire organization. By importing specific types of “sanitized” full-time data and viewing it right next to contingent data, managers can determine the best way to engage resources across all categories.

Here are three ways in which holistic workplace visibility can help a business:

1) Controlling Costs

Multiple sourcing channels can make it complex to manage talent. And when it comes to contingent workers, a lack of reliable market rate and job category data can prove damaging. In short, overpaying for workers can significantly drive up costs.

Reporting tools that enable you to easily compare rates for job titles across labor categories and locations can help reduce costs. Viewing this data in an easy-to-read format helps users make more informed decisions about:

  • Where to source talent: Are there certain geographic areas with cost-saving potential?
  • How to source: Are full-time employees or contingent workers the best value?
  • When to source: Is demand higher at certain times of year?
  • Overtime and expenses: Are these impacting profitability? If so, what adjustments could be made?

2) Understanding Your Talent

Hiring the wrong workers can also prove costly. Differences in market rates from one location and skill set to another create an additional layer of challenges. In addition, underpaying means companies are likely losing candidates to competitors.

Every day that a requisition remains open (full time or contingent), it costs the organization thousands of dollars. Getting better visibility into your workforce and understanding how different worker engagements drive quality patterns across different skill categories is critical for accurate workforce planning.

By marrying together full-time and contingent worker quality data (based on manager feedback), you can see what types of engagements (by job title and function) have historically yielded the highest quality work – and at the lowest rates.

You might also look at enterprise-wide data to identify where the organization’s biggest talent deficits exist, and whether relocating full-time workers to these areas, self-sourcing existing local talent, or supplier-sourcing contingent workers makes the most sense.

3) Enhancing Workforce Planning

How is your workforce distributed? Having access to a global view of workers by region and location can help with workforce planning. Ideally, you want the ability to easily zone in on regions and specific locations with a few clicks to see more granular details on how your workforce is distributed.

This kind of access allows for visibility to all workers (including full-time employees, agency-recruited workers, consultants, self-identified talent, contractors, freelancers, etc.) across the organization, helping ensure all workers are accounted for and enabling you to evaluate global headcount and distribution by labor type. To ensure compliance, you’ll want an MSP (managed services provider) team with in-depth knowledge of your VMS and a mastery of business validation and other related issues to assist your company.

The PRO Approach

PRO Unlimited wanted to empower managers and business leaders to better harness their workforce data so they could make smarter, more informed decisions about their future strategies and tactics. With that in mind, we created Total Talent Solutions, an innovative module within PRO’s Wand VMS (vendor management system) that enables clients to import full-time data along with their contingent data.

Total Talent Solutions’ customizable dashboards serve up this contingent and full-time data via easy-to-comprehend visuals. By consolidating different data sets, Total Talent Solutions assists users in answering questions about how engagement type and pay/bill rates correlate to worker performance.

To learn more, check out “Unleashing the Power of Holistic Workforce Visibility” and “Wand VMS: Total Talent Solutions.”

If you or a member of your team would benefit from a further discussion on how PRO is helping companies implement winning contingent workforce management programs globally, please contact a PRO representative at 800.291.1099 or email at info@prounlimited.com.

Disclaimer: The content in this blog post is for informational purposes only and cannot be construed as specific legal advice or as a substitute for legal advice. The blog post reflects the opinion of PRO Unlimited and is not to be construed as legal solutions and positions. Contact an attorney for specific advice and guidance for specific issues or questions.

Categories:
  Best PracticesNew TechnologiesVendor Management Systems
this post was shared 0 times
 10