Issue link: https://insights.randstadsourceright.com/i/789951
2 Around the world, companies are reaching out across industries and geographies to secure the talent they need to drive growth. As a result, talent demand is outstripping supply and creating a shortage of critical workers. That means you have to compete for scarce skills, whether you are a global enterprise with 10,000 workers or a regional business with 500 onboard. At the same time, the way people work is also changing, as flexible non-employee workers make up a growing portion of the available talent supply. In the U.S., for example, the portion of contingent workers, freelancers and independent contractors is estimated to be as high as 34% of the total workforce, according to the Global Human Capital Trends study by Deloitte. Part of the rise of the flexible worker can be attributed to the changing preferences of millennials toward independent work styles. Likewise, many highly skilled older workers are also attracted to the flexibility of contract or freelance options as a way to continue earning into their retirement years. In this environment of talent scarcity, the company that adjusts to changing demographics, embraces innovation and applies practical strategies to address all worker types can gain a competitive advantage in securing quality talent. Unfortunately, much attention has been given to the strategies and solutions for large enterprises, while many mid-sized companies feel left out of the equation. If you find yourself struggling to compete for talent as a mid-sized organization, there is good news. It is possible to apply a forward-thinking approach without the deep pockets or resources of a global enterprise. Specifically, an integrated total talent approach — the strategy based on considering all talent, from employee recruitment to management of flexible workers and contingent workforce suppliers — is not only available, but often more quickly accessible to smaller organizations as compared to their larger corporate counterparts. The improvements in speed and agility can be crucial, particularly in evolving organizations with high-growth expectations. secure talent to drive growth.