As workforce models evolve and companies demonstrate greater reliance on contingent labor, competition for flexible workforces will intensify. The ability to compete on a global playing field in the future may well rest on the ability to view contingent workforces as a strategically significant component of overall workforce strategy.
Non-permanent workers have the potential to significantly impact business outcomes and companies understand the need for multidimensional workforce analytics tools to more strategically manage their workforce in a proactive manner. While the vast majority of companies recognize the value of sophisticated talent analytics, most rely on transaction-level data that does not yield the deep insights required for truly meaningful decision making.
Today, the most common focus is on metrics that provide insight into what is happening, but not why or how. At the same time, sophisticated data sets and business intelligence tools are emerging to help companies better understand insights at both the firm- and market-level to make better strategic workforce decisions.
Successful workforce management will require data-driven business insights, but many organizations are not yet ready.
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