By Ravi Vasantraj, Senior Vice President and Global Delivery Head, Mphasis
The global workforce model is changing, and organizations are struggling to adapt. The tech industry’s labor pool has also decreased significantly in recent years, with a 25 percent drop in applicants and a doubling of job postings, affecting 69 percent of enterprises according to Datapeople’s 2022 hiring report.
This talent shortage is a healthy reminder for an enterprise to leverage its entire workforce to maintain its competitive edge. Organizations must look internally to keep up with the talent shortage and ensure optimal workforce utilization. Building an in-house talent cloud is an attractive solution to mitigate such talent shortages. Organizations can undertake internal crowdsourcing initiatives to utilize talent from outside their current teams and across the organization. The core idea is to tap the potential within an organization.
An organization can thus be empowered to rely on its own workforce to solve its business problems and, in the process, even be compensated for the work of talent outside core teams. The strategy is ideal for projects broken down into logically independent tasks. Thus, an organization need not recruit additional manpower to solve workload problems.
Creating a talent cloud also allows organizations to incentivize employee contributions. Incentives can be based on the nature of the problem—the bigger the problem, the bigger the incentive. It also creates a space within the organization for new ideas that foster innovation. In addition, efforts to build a talent cloud must also be complimented by efforts to upskill the employee workforce.
Building a talent cloud in house
To begin with, organizations must map required roles, skills, and talent within a talent cloud. Managers can then first look within the workforce and identify any required skill sets within the organization. Such initiatives should be undertaken by the HR teams and be process driven and standardized.
Organizations must also build a talent directory, adding information on their employee’s skillsets and availability. Such a directory with relevant information should be made available to teams within the organization, thus helping them to choose whom to work with.
A talent cloud is less time-consuming to create and enables an organization to have more than two persons for every skill set. It enables organizations to have additional resources to reach out to when required. Such an effort is also complemented by upskilling the existing employee workforce within the organization.
Leveraging external talent
Organizations looking to build a talent cloud can also harness talent from the contractor and freelance communities. It enables an organization to create a resource pool of experienced skill sets and forge a long-term business relationship with this community. Organizations must rethink fee structures and the legal aspects of hiring. Transparency will also become essential. Onboarding such contract workers for a trial period will help an organization establish trust and understand how to leverage a talent cloud better.
To navigate the future of the workforce, organizations must understand how the talent landscape has evolved. They must leverage the best of their own workforce and not hesitate to tap into resources outside the organization to continue its growth journey.
About Mphasis
Mphasis’ purpose is to be the “Driver in Driverless Car” for Global Enterprises by applying next-generation design, architecture, and engineering services, to deliver scalable and sustainable software and technology solutions. Customer centricity is foundational to Mphasis, and is reflected in the Mphasis’Front2Back™ Transformation approach. Front2Back™ uses the exponential power of cloud and cognitive to provide hyper-personalized (C=X2C2TM=1) digital experience to clients and their end customers. Mphasis’ Service Transformation approach helps ‘shrink the core’ through the application of digital technologies across legacy environments within an enterprise, enabling businesses to stay ahead in a changing world. Mphasis’ core reference architectures and tools, speed and innovation with domain expertise and specialization, combined with an integrated sustainability and purpose-led approach across its operations and solutions are key to building strong relationships with marquee clients. Click here to know more. (BSE: 526299; NSE: MPHASIS)
For further information, please contact:
Mphasis Corporate Communications
Deepa Nagaraj
deepa.nagaraj@mphasis.com
+ 1 (646) 424-5160 |+91 9845 256 283
Sumana Bhat
sumana.bhat@mphasis.com
+91 9902 980 980
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