Staffing Lifecycle Management: A New Framework for the Talent Economy

Executive Overview

The world of talent recruitment, acquisition, and management is one of constant change and increasing complexity.

Facing a hyper-competitive business environment, organizations are presented with the challenge of scaling their workforces at speed, while also maintaining a high level of quality and productivity. Furthermore, businesses are also expected to adopt new technology and adapt in real-time to global business conditions by hiring top-level technology talent to lead the charge.

 

But sourcing, acquiring, and retaining talent has never been more challenging. With approximately 75 million “baby boomers” on the cusp of retirement, and a new wave of highly diverse employees with vastly different definitions and expectations of employment rising through the workforce, companies are turning to experts to help navigate these difficult waters.

 

As an industry leader working to provide top-level talent to some of the most cutting-edge organizations and technology companies on the planet, CorSource faces these challenges on a daily basis. In response, we introduced a new and practical approach that will help technology-driven organizations benefit from the emerging “Talent Economy.”

 

Staffing Lifecycle Management is a guiding framework for a holistic approach to talent acquisition and staffing through integrated assessment, planning, and deployment of diverse and talented resources. It is based on our philosophy that connected teams, and aligned processes and strategies, lead to better use of “human capital” to achieve business objectives.

 

Staffing Lifecycle Management: Supporting the Emerging Talent Economy

Staffing Lifecycle Management (SLM) helps technology-driven organizations embrace and benefit from the emerging Talent Economy – where a mix of contract, direct hire, and outside resources are increasingly used to meet modern, highly fluid business requirements. It aims to support the newer models that organizations are now using to leverage technology staffing, recruiting, and contract services to manage change and seize market opportunity.

 

Fundamentally, the objectives of Staffing Lifecycle Management include:

Staffing Lifecycle Management Objectives

 

By addressing these objectives, SLM helps create a unified technology staffing strategy that elevates the delivery and consumption of outside services to a mission-critical and cross-functional business process.

 

The Talent Economy

The Talent Economy is fundamentally connected to Staffing Lifecycle Management in that SLM is a practical methodology for not only managing talent acquisition in a rapidly changing business environment, but leveraging the possibilities the Talent Economy offers to gain more competitive advantage and win in the market.

 

Conversely, the Talent Economy is connected to the equally disruptive Gig Economy, as it embraces the fast-changing dynamics that have forever changed how people work and chart career paths. Both mega-trends fuel the growing shortage and high cost of technical talent. These shifts also lead to an increasingly mobile, diverse, and independent workforce, aligned with a maturing digital age where freelancers and employees alike can opt for shorter-term jobs and projects – where and when they want to accept them. The Talent Economy directly impacts how organizations staff and scale their workforce, with direct hire employees, contract workers, and technical services to meet increasing technology demands.

 

Staffing Lifecycle Management Objectives - Intuit Statistic

 

Not surprisingly, the Talent Economy also has changed the way traditional staffing firms think and operate. As an industry, we need to move from just “filling positions,” to becoming strategic business partners that help chart technical talent strategies that are agile and tightly aligned with specific business initiatives and goals. We also have the opportunity to nurture and bring more diversity and inclusion to the technology workforce, and to help ensure equal pay for all that we employ – either directly or as contractors.

 

All of this is the reason CorSource developed the Staffing Lifecycle Management framework – to help organizations better manage and benefit from the Gig and Talent Economies, and to contribute new thinking within the staffing industry.

 

Today’s Technology Staffing Industry Landscape

Mega trends and industry dynamics are impacting organizations of all types – and are vital to understand within the context of Staffing Lifecycle Management. Relevant industry trends occurring today include:

 

 

The CorSource Industry Perspective

Based on our collective experience working across a wide range of industries and staffing needs, we see the following dynamics unfolding within our industry:

 

The CorSource Industry Perspective

 

Offering a Shared Technology Staffing Vision

As we collectively work to ensure talent delivers value across the enterprise, it is vital to gain a common, shared vision for our industry and community. We offer the following insights into future approaches as we all move forward:

 

Staffing Industry Vision

 

Staffing Lifecycle Management: Core Tenets

The following tenets are designed to help you adopt the SLM approach into your organization. These steps provide a guide for improving operational efficiencies, empowering better decision making, promoting collaboration and innovation, and delivering more value to the organization. The central theme of the SLM approach is connecting all stakeholders and processes to business value. Like Lean and other operational processes, SLM requires executive support and leadership to achieve sustainable success – as change and breaking with entrenched norms requires support at all levels.

 

Staffing Lifecycle Management tenets:

Staffing Lifecycle Management Graphic

 

    1. Assess: Conduct an enterprise-wide assessment of all outside staffing and contract resources, costs, processes, needs, and outcomes. To know where gaps and opportunities exist, it is imperative to know what you have. We recommend taking a broad look at the staffing, recruitment, and contracting practices you have in place. The assessment should examine the strengths, weaknesses, and gaps across the entire staffing lifecycle to identify areas of opportunity and improvement.
    2. Connect Teams: Assemble teams – from HR and hiring to managers and executives, to map effective talent strategies that deliver business value. Connect with employees and stakeholders from all levels and backgrounds, allowing collaboration and connection at every step. Use this as an opportunity to cross-pollinate effective processes, as well as to identify organizational redundancies that would otherwise not be visible in a siloed organization. The power of creating “Talent Centers of Excellence” can be profound by providing a collaborative, focused, and inclusive environment to share needs and processes for improving outcomes.
    3. Align Staffing to Business Objectives: Ensure all staffing resources and needs are aligned with business objectives and strategic plans. Oftentimes team’s individuals KPIs can obscure – or even mask – higher level business objectives. This is an opportunity to achieve organizational alignment across all levels and move forward collectively and strategically.
    4. Promote Diversity, Inclusion, and Pay Equality: Build a culture that reflects a changing world and workforce by encompassing physical, cultural, and socio-economic diversity. Promoting these shared values and attitudes leads to improved morale, performance, and productivity. It also helps attract top talent, improve retention rates, and lower turnover.
    5. Bi-directional Transparency: Agencies provide analysis of fees and differences between contracting and direct hires; client organizations reciprocate by sharing insights into business goals and objectives.
    6. Talent Management: Implement modern recruitment, work/life alignment, development, and compensation practices that attracts and engages employees. Use information collected in the previous steps to assure industry competitiveness.
    7. Talent Resource Matrix: From in-house and contract to direct development services, create a resource matrix to align each approach with a project type. This will serve as the guiding framework that will provide the ability to focus on a more detailed approach.
    8. Prioritized Partner Ecosystem: Align partners around the resource matrix based on the capabilities, strengths, and weaknesses of the partner ecosystem. Put your partners in the best position to achieve success.
    9. Informed Decision-Making: Create technology staffing strategies and plans that align a mix of staffing resources based on clear and concrete business objectives.

 

Why Staffing Lifecycle Management?

Creating a more unified and standardized approach for managing all of the dynamics and complexities of technology staffing is profound. Specifically, the benefits and rewards that Staffing Lifecycle Management delivers for the following groups include:

 

Organizations
  • Provides a holistic approach to staffing and resource usage
  • Aligns staffing, contracting, and development to business goals
  • Streamlines “staffing processes” for optimum quality, speed, and cost

 

Talent
  • Improves the experience of working within the Talent and Gig Economy
  • Demonstrates they are highly valued team members

 

Industry
  • Supports the Talent Economy through an integrated approach that blends staffing, talent management, outsourcing, and organizational development

 

The Future of Technology Staffing

At CorSource, we believe that our collective industry is faced with great challenges, but with those challenges come great opportunities. Through Staffing Lifecycle Management, we are pleased to offer our best collective thinking to help teams, organizations, and our industry move forward, as we adapt to disruptive dynamics – some that are apparent today and some that are unforeseen.

 

We also feel it is vital that we explore the inefficiencies that come when holding onto legacy approaches that were once best-in-class, but need a review and refresh. While SLM is not a rigid and prescriptive process, we hope it serves to shift how you think about and manage your technology talent and staffing needs, and that this thinking and approach contribute to your business success.

 

To learn more about how our Staffing Lifecycle Management framework can help you with your talent acquisition needs, contact us today.

 

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