Talent Supply Chain is a method to find the right talent for services to meet the workforce requirement of companies. It enables the businesses to produce and distribute their goods and services in an efficient manner, thus enabling them to meet their objectives. Constant shortage of skilled workforce, proficient people switching jobs frequently, retirement, etc. are a few reasons businesses are balancing workforce through talent supply chain management methodology. On top of this, the ever-changing workplace demographics, the smart skills shortage in the market, ongoing economic uncertainties, and the obstacles of surviving in the business world have compelled the employers to brainstorm about the traditional approaches of recruiting the right talent for their organisations.
This has made building and strengthening an adaptive talent supply chain the biggest need of the hour.
According to the US Bureau of Labor Statistics, the number of jobs in the logistics sector grew by 26% within a decade (2010 – 2020). Stating their reviews on the overall concept of talent supply chain, ASCM, (Association for Supply Chain Management) said, “It’s possible to implement the principles of supply chain management to demand talent in the industry. Talent supply chain management involves using the right supplier for each specific and unique hiring need as well as establishing the right supply chain implementation; coordination; and, when necessary, remediation. Workforce analytics make it possible for companies to gain insight into the overall dynamics of internal and external factors. Talent supply chain management is an ongoing company-wide process that needs to be performed with careful attention to detail and full awareness of company and talent priorities.”
Talent Supply Chain Management Model
The overall idea of adopting a talent management process is to mobilise and engage talent as and when required. This workforce management model, when followed appropriately, eradicates inefficiency.
Talent supply chain model consists of employers defining roles and responsibilities, recruiting candidates with the required potential to transform the existing workforce system.
- Setting up a robust recruitment strategy that includes the multiple mediums of recruitment on the basis of requirement. For instance- freelancers, part-time, full-time employees, staff on an hourly basis, etc.
- Shaping and managing the demand of offered roles.
- Aligning the recruited talent with the latest technology, workforce processes and ultimate goals of the organisation.
- Deploying required analytics to evaluate the progress and its impact on the business development.
The Talent of the Future
As per a survey conducted in 2000, Bill Gates was one of the CEO’s of Fortune 500 organisations who spent over 50% of its time on recruiting the right talent for their business.
Now to set a better example of time management while not hampering the recruitment process, Unilever outsourced Accenture’s HR services to avail administration services for- payroll, recruitment, and reward, workforce reporting, performance management, etc. And if we talk about the present scenario, the current generation steps towards the workforce world to transform it accordingly. The present and future of the talent supply chain will be a reflection of wealth-creators, improved collaboration, latest technology, up scaling demands, etc.
Infusing the use of solutions and technology in the talent supply chain can tenfold productivity and the potential of result-orientation. Leveraging technology means adopting advancements, including- natural language processing, artificial intelligence, etc. It helps to reduce the time duration spent on the recruitment process.
Global Talent Supply Chain
Different studies and researches have been conducted to understand the facts and rising demand for the talent hired through business strategies, technological models, and processes. These surveys revealed that business transformation demands new skill sets infused with technological knowledge to meet the current time requirements. The global talent supply chain is evaluated on parameters, including agile thinking, digital skills, global operating skills, communication skills, etc.
The Final Word
The talent supply chain is a proactive approach to management that safeguards and optimises the supply chain services via multiple channels to meet the expectations of the HR department of different organisations. It requires workforce analytics expertise to get insights on talent, motivations, dynamics, etc. The process involves the TSC management model study, evaluation of candidates on each stage, coordinating with the recruitment parameters of the industry, etc.