If you’re involved in staffing or recruiting, you might have encountered this term before. It represents a new, holistic way of sourcing talent for global businesses. In this article, we describe what Total Talent Management (TTM) is, and go in depth about the technology ecosystem that drives it.
In the current business climate, organizations are having to keep up with market changes. Total Talent Management has emerged as a solution to fragmented IT systems, governance, and budgetary models that inhibit organizations from creating an on-demand workforce model through an inability to leverage the various resourcing mechanisms.
What is Total Talent Management?
- Full-time Employment (FTE) Contracts
- Contractor Procurement – Normally procured through indirect procurements via staffing agencies.
- Project Outsourcing Purchase Orders – also referred to simply as ‘Outsourcing’.
- Statement of Work (SOW) contracts – The contractor is paid based on achieving set milestones stipulated in their SOW contract.
- Micro-Task contracts – The fulfilment of tasks by gig workers, typically via an online gig portal.
The Total Talent Management approach
- Recruitment via direct and indirect channels
- Both full-time and contingent/freelance working, applying equal weight of importance to all approaches
- A practise of establishing contracts that can be fulfilled by the micro-task, SOW, project, or role
- Both a human and AI workforce
What is the appeal of Total Talent Management?
The challenges of transitioning to a TTM approach
TTM initiatives aim to create a joined-up requirements gathering, sourcing, and management approach to ‘get work done’ irrespective of the resources used or the contractual construct adopted. However, projects to normalize and standardize current operational approaches are suffering as the result of:
- A lack of clarity on responsibility
- Fragmented decision making and budgets
- The insufficiency of recruitment software tools used to perform functions of recruiting, but failing to deliver a unifying digital ecosystem that can service the needs of all stakeholders in the staffing and work contracting process.
Technology supporting the gig economy
Total Talent Management portals like Simplify TTM have a major role to play in equipping organizations with the ecosystem they need to reach all of the desirable work sourcing resources to fulfil tasks in the most cost effective way on-demand. In addition, we help organizations to adapt their attitudes, behaviors, and processes to embrace new organizational designs and smarter ways of getting work done.