The need to compete in a global marketplace has led to companies being more innovative in the way they recruit and manage talent. It is increasingly important for organizations to have access to the right skills at the right price – especially because there can be varying levels of market maturity across multiple locations world-wide.
To achieve these goals, companies seek out providers that can deliver access to the best in-demand talent, both efficiently and across all segments of the workforce. Suppliers are a key link in the talent supply chain as they have knowledge of the talent in their own geography and within their specialty.
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Talent management solutions benefit organizations with:
- Access to and management of a supplier network
- Enhanced reporting through holistic performance measurement and operational analytics
- Ability to align workforce with strategic objectives
- Access to global talent
- Local/regional market knowledge – across the globe
To support global talent supply needs, third-party providers are seeking a higher number of niche talent pool suppliers required to meet skill shortages. What’s more, demographic and psychographic analytics have proven their value is designing workforce solutions, and to be the most competitive, organizations want to be flexible and adaptable to meet fluctuations in market conditions.
A best practice when working in a third-party relationship is to have timely access to the data needed to manage performance.
An analytics portal can help a supplier to:
- Benchmark performance
- Identify development opportunities
- Gain market knowledge
- Define success by reviewing its own data
A strong talent supplier base provides a competitive advantage to a company and third-party providers. Their group of suppliers are key to delivering the nimbleness companies seek to compete across the globe making it a win for the customer, the talent management organization and the supplier. The thorough use of predictive analytics can help all talent supply chain partners involved to gain and maintain competitive advantages.
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