For businesses hiring at volume, bringing in a total talent management solution gives them access to a workforce solutions provider’s expertise, technology and networks so they can deftly flex their workforces in line with demand.
Of course, the use of workforce solutions providers to manage talent acquisition is not a recent phenomenon. However, in the pandemic era, amid the new world of work, these services and solutions have never been more vital.
The UK is currently facing an unprecedented skills shortage. For the first time ever, official figures show that there are now more than one million unfilled vacancies across Britain. It is no surprise, then, that more than two thirds of UK companies are struggling to find recruits.
Against this backdrop, a growing number of businesses are understandably desperate to source and secure the talent they need to thrive. Here are three reasons why workforce solutions providers are now more important than ever before.
1) Provision of up-to-date market intelligence and insight
As demand for talent surges, employers must do what their competitors aren’t in order to get their hands on top talent – and this is where the value of market intelligence really lies.
In the rapidly changing world of recruitment, workforce solutions providers can offer unparalleled insight into what is happening in specific sectors and the wider market – as well as an understanding of what is going on in the minds of potential applicants.
Here at Guidant, our workforce solutions experts provide regular market intelligence, insights, and guides to help our clients stay up to date with rapidly shifting markets. Our sector specialists are also perfectly placed to advise on factors including:
- average salaries
- desirable skill-sets
- availability of talent
- compliance, and
- what candidates really want
This knowledge enables the businesses we work with to snap up the best candidates quickly and with ease.
2) Access to specialist recruiters and hard-to-source candidates
While the UK is undeniably suffering from a severe shortage of certain skills, it is also true that many businesses are struggling to hire because they are fishing in the same shallow talent pools as their competitors.
Today’s talent solutions take a holistic approach to recruitment, with workforce solutions providers helping their clients to access specialist suppliers and reach hard-to-source candidates. A great managed service provider will help the employers they work with reassess not only the skills and experiences that are really needed for a specific role – but also where potential applicants can be found.
By looking beyond traditional candidate personas, tapping into passive candidates, and exploring underutilised and global talent pools, workforce solutions providers can access elusive skills. MSPs and RPOs can also assist employers in utilising existing workforces most effectively – for example, through redeployment or the adoption of AI and automation – to streamline operations and manage human resources efficiently.
3) Ability to shape not just your MSP, but also your EVP
Even during times when talent is plentiful, the benefits of investing in your employer value proposition (EVP) can be enormous. According to research by Gartner, organisations that effectively deliver on their EVP can reduce the compensation premium by 50%, and reach 50% deeper into the labour market when candidates view an EVP as attractive. What’s more, 50% of candidates say they wouldn’t work for a company with a bad reputation – even for a pay increase.
With this in mind, a focus on EVP, harnessed alongside complementary recruitment strategies - such as offering a first-class candidate experience and tapping into underutilised talent pools - is vital to persuading people to join you over the competition.
When it comes to defining and communicating a strong and authentic EVP, understanding the experiences of existing employees is crucial. Only then can you begin to build a solid employer brand – and reap the associated benefits. But while a strong EVP gives you a consistent platform for all employer brand communications, this alone is not enough. Real value comes from sharing authentic stories of your people, which are accessible to audiences both inside of the recruitment process and beyond.
Workforce solutions providers such as Guidant have extensive experience in this area and will ensure that celebrating your corporate culture is built into the very heart of any recruitment campaign. Visit our jobs site to see how we do this for Guidant Global by celebrating our own people.
Find out how we can help with your talent management
There is no ‘silver bullet’ solution to overcoming today’s talent acquisition and workforce management challenges, nor is there a magic ‘one size fits all’ approach. However, an experienced MSP or RPO provider is perfectly placed to support businesses in exploring and engaging with the whole array of talent available.
The experts here at Guidant can tell you what’s happening in the market, reach deep into untapped talent pools, and help you establish a compelling EVP in order to reach your talent acquisition objectives. Contact us to find out how we can help your business.