Staying Ahead of Turbulent Times in Workforce Management
The BLS reported a notable drop in unemployment rates in the US in July, down to 5.4%. The total number of unemployed now sits at 8.7 million, while the number of long-term unemployed (those searching for jobs for 27 weeks or more) fell to 3.4 million. Though elevated compared to accepted “full employment” figures, any hiring organization will confirm that the supply of talent is way down while demand is skyrocketing as the economy reopens en masse. So, how can your organization find the talent you need today and in the future as the nation grapples with disruption in labor availability?
Customers of nextSource know about the Progressive Program Model™ for talent sourcing and the multi-faceted strategy the model uses to ensure a consistent, dependable and uninterrupted pipeline of viable candidates. How does the Progressive Program Model deliver in this regard?
Similar to the strategy of diversification used by investment advisors to ensure against overexposure to any given sector of the market, the Progressive Program Model spreads sourcing efforts across the gamut of available talent sources. For example, it not only addresses the more traditional sources of talent like staffing supplier firms, job boards, temp agencies and so forth. It also leverages the newer and emerging sources like online talent platforms, gig economy applications and crowd sourcing sites.
However, it is more than just embracing the newer, online and tech-driven sourcing platforms. The nextSource model works hard at developing diverse supplier relationships in multiple locales and across niche pools of talent. It engages advanced community outreach to tap into local talent channels and build the hiring brand from within the communities where your organization does business. nextSource PPM experts are experienced at building custom-curated talent pools – tapping retirees, former contingent employees, new graduates, remote resources and more.
For many customers, workforce plans are still being influenced by the exigencies of operating during a pandemic. As a result, the nature of worker classifications being applied to operational tasks is still very much in flux. Elevated levels of work from home activities are still being experienced. Many companies remain reliant on contingents, contractors and project workers to manage operations as they’re not yet confident enough to return to hiring full time, W2 wage earning resources. In response to this new normal, the Progressive Program Model also furnishes relationships with SOW contract firms, as well as pools of independent 1099 contract workers.
The evolution of the Progressive Program Model and its capabilities doesn’t stop there. None of us knows what the future holds, but we know how to help organizations like your prepare for any contingency. The flexible, responsive governance model at nextSource ensures whatever conditions may exist in today’s unpredictable labor market, your organization will always be well-situated to stay ahead of the competition and firmly in control of workforce management process.