People want to work in new, more flexible ways and businesses need to rethink how they find workers and fill labor needs. But when people say “the new world of work,” what do they actually mean?
A recent research report from Ardent Partners puts data behind the idea. The report found that 40% of the global workforce is considered non-employee or contingent in some way. We wanted to understand how this research will impact companies in 2018 so we sat down with Teresa Carroll, President of Global Talent Solutions at KellyOCG and Christopher Dwyer, Vice President of Research at Ardent Partners. They outlined three trends that will impact the new world of work in the coming year.
Optimization of work
Aligning the right worker with the right type of work is a must-have for companies in 2018 according to Burgess. Before hiring someone to fill a labor need, businesses should assess the work that needs to be done. Does it need to be fulfilled by someone who has tenure and a high-level of skill? Is the work project-based and a freelancer is the best fit? Or does the work require a widespread skill and doesn’t need to be done by the same person each time?
Carroll said companies need to reframe their thinking to focus on how work gets done rather than who is doing it. In fact research from Ardent Partners shows 73% of enterprises today are utilizing new methods of addressing work, including tapping into a growing talent pool of skill sets and expertise.
Research has found that 71% of businesses have the desire to be more agile, which means they need to be able to react quickly and dynamically to market changes. Carroll said the best contingent workforce and talent acquisition leaders know the changing labor market and what’s happening with the demographics.
Dwyer defines agility as the ability for a business to thrive — not just survive — in the years ahead. Tapping into an on-demand talent pool will help businesses scale labor up and down quickly. Smarter talent engagement and the ability to match workers with appropriate jobs makes business more agile.
Innovative technologies like artificial intelligence, machine learning and blockchain are helping businesses optimize how work is done in the future according to Dwyer.
Research found that about 6% of businesses are currently leveraging innovation (i.e. AI, machine learning) to support hiring, while 55% of businesses want to leverage more innovative technology for their contingent workforce programs in the future.
To start preparing for these changes, Burgess suggests building out a two-to-three year plan for integrating technologies such as AI and machine learning into current business processes. He recommended that companies embrace whatever tools are available as long as they’re equipped to manage them effectively.
If you’re interested in learning more about these topics and other ways your business can prepare for the new world of work, claim your free copy of the 2017-2018 State of Contingent Workforce Management report from Ardent Partners and download the recording of our most recent webinar.