What we’re experiencing today has opened up significant fault lines in the way businesses operate.
For many, they’re significantly scaling back operations to weather the storm. For others — particularly those who deliver essential goods, supply medical equipment and sustain everyday life — the answer is to rapidly hire temporary staff to meet increasing demands.
This brings two unique sets of challenges.
Businesses who are scaling back operations
First, let’s take the companies scaling back operations. Operating with a reduced workforce makes sense when business isn’t strong and staff can’t work to the same levels as they could previously. So, as hard as it is for millions of people across the US, from a business perspective, letting workers go seems relatively sensible.
So far, so logical.
However, assuming the business emerges intact once the coronavirus crisis is over, they’ll need to attract talented people back to the business as quickly as possible in order to make up the losses sustained under lockdown.
Hiring people at such a scale requires a great deal of expertise, especially to ensure the best rates, keep the business as lean as possible, remain compliant, and still find the best talent. To achieve such targets, businesses will need to procure a workforce solution that can match such needs.
Businesses who are hiring at scale to meet current demands
Second, let’s take the business rapidly employing temporary workers at scale to meet current demands. These businesses are not only the bedrock of society, but they’re also enabling people who have lost their jobs to find employment.
So far, so good.
The issue for businesses here is that hiring hundreds or thousands of temporary workers can lead to spiralling costs and accelerate risk, particularly when hiring managers are working under relentless pressure. In this scenario, this business is likely to need an MSP program to ensure compliance and optimise its temporary workforce now, and when the crisis is over.
Will workforce solutions change to meet new demands?
Given that the demand for workforce solutions is set to grow over the next few years, will the workforce solutions themselves change? From my years of experience working in this sector, the answer is most definitely yes.
Even before this crisis, direct sourcing, Contingent RPO, AI-powered talent analytics, services procurement and strategic workforce planning were all beginning to permeate the workforce solutions marketplace — at least among forward-thinking MSPs.
Some of these additions will continue to grow once we’ve exited this crisis
Elements such as talent analytics and strategic workforce planning will contribute towards ensuring fully optimised, fully compliant workforces. By the same token, contingent RPO and direct sourcing will ensure that businesses can hire and retain the best talent at the best possible rates. Meanwhile, services procurement and statement-of-work management will save businesses money for complex and project-based work.
The workforce solutions of tomorrow will build on existing advances
Ultimately, the workforce solutions of tomorrow will have to build on the advances we’ve made in the years prior to the coronavirus crisis. Only by looking to past progress can we help businesses navigate the economic downturns of tomorrow.
MSP providers like Guidant Global have always looked to get the best deal for their clients. But given the challenges ahead, we will learn from this experience and accelerate our solutions to ensure businesses survive today and excel tomorrow.
By working together, we can help drive greater productivity, rebuild our businesses, and inject life back into the US economy.
This article is from our in-depth report exploring the impact of the global remote working transition. Download the guide by clicking the link below: