Age Is Just a Number

This pivot brings benefits to both individuals and enterprises that can strengthen and support talent strategies.

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Introducing a New Subscription Model from the Future of Work Exchange.

To continue providing valuable insights and resources on the future of work and extended workforce management, we’re transitioning our site to a paid subscription model. While some posts will remain free, subscribing will grant you exclusive access to in-depth analysis, market research, expert interviews, and actionable strategies that will help improve your business. Solution providers and practitioners are invited to join today and gain a competitive edge by tracking the industry’s important innovations, emerging trends, and best practices.

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The rest of this article is available by subscription only.

Introducing a New Subscription Model from the Future of Work Exchange.

To continue providing valuable insights and resources on the future of work and extended workforce management, we’re transitioning our site to a paid subscription model. While some posts will remain free, subscribing will grant you exclusive access to in-depth analysis, market research, expert interviews, and actionable strategies that will help improve your business. Solution providers and practitioners are invited to join today and gain a competitive edge by tracking the industry’s important innovations, emerging trends, and best practices.

Click here to learn more.

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What is the result when a lack of employee engagement exists? Two employee behaviors — “quiet quitting” and “loud quitting” — become prevalent. Current workforce statistics indicate that disengagement is more prominent than management probably realizes.

Quiet Quitting Proliferates

In early 2022, a term emerged describing workers who are disengaged from the workplace and generally apply the minimal amount of work necessary to complete their job — quiet quitters. When compared to the overall workforce, quiet quitters represent the majority of workers today, with most struggling with stress and burnout.

According to Gallup’s State of the Workplace 2023 report, 52% of US/Canadian workplace employees fall within the “disengaged” (quiet quitter) category. It also represents the largest group that HR and business managers can actively engage with positive results by listening to employee concerns and issues.

What changes are quiet quitters most looking for to thrive in the workplace?

The rest of this article is available by subscription only.

Introducing a New Subscription Model from the Future of Work Exchange.

To continue providing valuable insights and resources on the future of work and extended workforce management, we’re transitioning our site to a paid subscription model. While some posts will remain free, subscribing will grant you exclusive access to in-depth analysis, market research, expert interviews, and actionable strategies that will help improve your business. Solution providers and practitioners are invited to join today and gain a competitive edge by tracking the industry’s important innovations, emerging trends, and best practices.

Click here to learn more.

The post Voices Behind Quiet and Loud Quitters appeared first on The Future of Work Exchange.

We’re now two months into the second half of 2023 and economically speaking, things are looking positive. The Bureau of Economic Analysis reports that GDP grew 2.4% in the second quarter of 2023. The labor market remains tight with unemployment at 3.6%, a rate not witnessed in decades. However, according to the U.S. Bureau of Labor Statistics, the tight labor market provides the Federal Reserve with the flexibility to continue raising interest rates to fight inflation. Currently, inflation rests at 3%, a percentage point higher than the Federal Reserve’s longer-run goal of 2%.

Does the state of the current U.S. economy equate to a “soft landing” and the evasion of a recession? Maybe, maybe not.

The rest of this article is available by subscription only.

Introducing a New Subscription Model

To continue providing valuable insights and resources on the future of work and extended workforce management, we’re transitioning our site to a paid subscription model. While some posts will remain free, subscribing will grant you exclusive access to in-depth analysis, market research, expert interviews, and actionable strategies that will help improve your business. Solution providers and practitioners are invited to join today and gain a competitive edge by tracking the industry’s important innovations, emerging trends, and best practices.

Click here to learn more.

The post Optimize Your Workforce with Recession-Proof Strategies, Part Three appeared first on The Future of Work Exchange.

2022 was another watershed year for the business arena. We grappled with Year Three of a pandemic, dealt with the fallout and reshuffling from The Great Resignation, tapped into the power of new and exciting technology, learned the meaning of humanity in how we work, and continued to experience the growth and impact of the extended workforce.

And this is the just the beginning of what is up ahead. 2023 will surely challenge us, with the specter of an economic downturn lingering overhead as well as continued uncertainty regarding the volatility of the labor market. However, as we have done over the past three years, we will persevere, we will thrive, and, most critically, we will innovate.

Today, on the Future of Work Exchange, we unveil four laser-focused predictions for the year ahead:

• Skills, skills, skills…talent acquisition and workforce management will revolve around skillsets and expertise. Globalization, digitization, flexibility, and agility, mixed with labor market volatility, equates to a brave new world of talent acquisition and talent engagement. Executives will seek cost-cutting measures to combat economic uncertainty, but in 2023, it won’t affect the overarching need for top-tier skillsets and expertise. Businesses have experienced a massive skills gap over the past several years and the only way to thrive (not just merely survive) in today’s business arena is to pump resources, innovation, focus, and technology into revamping talent engagement and talent acquisition strategies. Skills are the centerpiece of the Future of Work today.
• Intelligence becomes the nexus of the Future of Work. Businesses were living in a Big Data world long before the term was applicable. As machine learning infiltrated analytics and artificial intelligence became a foundation for workforce data, business leaders were enabled with the power to infuse real-time, on-demand insights into their core talent-led decision-making processes. Today, and into 2023, that concept will evolve as enterprises develop “skills catalogs,” seek to shift expertise where it is needed given changes in the market, and infuse AI into talent acquisition and recruitment approaches to maximize skillsets and eschew archaic talent engagement methods.
• Omni-channel talent acquisition is 2023’s gold standard for engagement. This is something that the Exchange discussed recently (especially during last week’s predictions-focused webcast). Direct sourcing, talent communities, talent marketplaces, digital staffing, and freelancer networks are all deep and viable outlets of candidates; thus, businesses can take an omni-channel approach and optimize their hiring by aligning their talent acquisition strategies with these sources of talent. And, the omni-channel approach traverses beyond this type of alignment: by maximizing various sources of talent (through VMS, ATS, direct sourcing, etc.), businesses are able to boost candidate engagement by providing a worker-specific experience to each prospect that is inclusive of assessment, opportunity, and clarity.
• Humanity shines through in every facet of how and why we work. The pandemic didn’t just result in Future of Work accelerants like remote/hybrid work and the shift to flexibility; it truly humanized the way we, as both professionals and people, perceived the role of work in our daily lives. The Future of Work should be predicated on humanity in such a way that it cascades into how leaders manage their people via empathy, understanding, appreciation, and transparency. Workers today face a variety of issues: economic uncertainty, burnout, poor mental wellbeing, challenges with workplace culture, etc. Leaders have a new role in 2023: continue managing towards organizational goals and objectives whilst focusing on the human side of business. ensuring that workers and candidates are provided the flexibility and emotional wellness that they require to succeed.

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Several years ago, Ardent Partners predicted in its annual State of Contingent Workforce Management research series (now re-titled under the banner of the Future of Work Exchange) that the world would eventually experience a workforce in which 50% was comprised of non-employee talent (including freelancers, temporary workers, independent contractors, gig workers, and professional services). Today, that number sits at 47% and shows no signs of slowing down in terms of growth and impact, meaning that the “50% threshold” is fast approaching the world of business.

As the ever-evolving attributes of the Future of Work movement cascade into how businesses find, engage, source, and manage their total talent, it is critical that they leverage the next-generation solutions that can effectively transform workforce intelligence and drive long-term value from the agile workforce.

Enter Workforce Logiq.

Why They Were Selected:

Workforce Logiq has come a long way since its days under the ZeroChaos brand, a Managed Service Provider (MSP)/Vendor Management System (VMS) hybrid that had massive staying power across various global regions and large sectors and industries. The rebrand to Workforce Logiq in early 2019 wasn’t just a simple swap of corporate names, but rather a true technological transformation that heralded a new age of total talent intelligence and workforce management innovation.

Today, Workforce Logiq is a leading workforce management solution provider that effectively blends deep human expertise with next-level artificial intelligence and total talent insights. Its predictive analytics engine is an industry differentiator, enabling their customers to leverage on-demand data to execute more educated talent-based decisions in a time when agility is paramount. In fact, Future of Work Exchange research finds that 64% of businesses plan to leverage AI-led tools to support talent retention and related issues within the next two years.

In Their Own Words:

Workforce Logiq provides predictive workforce management solutions powered by an unmatched combination of human and data-driven intelligence.  We help organizations reimagine and transform how they achieve greater management, performance, and financial control over their global workforce and talent supply chains. 

Our global solution portfolio includes: Managed Service Provider (MSP), Vendor Management System (VMS), Statement of Work (SOW), Employer of Record (EoR), Direct Sourcing, Recruitment Process Outsourcing (RPO), and Employment Screening.

The Workforce Logiq Total Talent Intelligence® platform is a proprietary combination of predictive analytics, expert guides, and proprietary technology powered by sixteen patented and patent-pending innovations, including: 

• Talent Retention Risk (TRR) Score: benchmarks employment volatility within a company, and potential worker interest in unsolicited recruiting approaches.
• IQ Location Optimizer: identifies the best and biggest pool of available contingent and full-time talent – at the best cost.
• IQ Rate Optimizer: benchmarks how much an organization needs to pay to attract and win contingent and full-time talent based on unique, company-specific workplace characteristics.
• IQ Talent Diversity: predicts gender and ethnic statistics on our recruiting database of 100 million professional and knowledge worker candidates – helping organizations make smarter, confident, and more proactive decisions on how to boost employee representation. 
• And more!

In today’s hyper-competitive talent market, we are committed to helping companies make more informed talent decisions faster, earlier, and more cost-effectively.

The Outlook:

One of the most impressive pieces of Workforce Logiq’s deep technology stack is its ENGAGE Talent offering, which provides real predictive intelligence regarding active and passive candidates while allowing users a real-time picture of how talent is situated across the world. Combined with Workforce Logiq’s longstanding commitment to workforce and data insights (which permeate throughout the entirety of both its MSP services and VMS platform), the solution will continue its reign as a mature and powerful workforce management solution.

Building on top of already-robust SOW management, services procurement, and direct sourcing offerings, Workforce Logiq was already primed for continued success in the months and years ahead before it was acquired by PRO Unlimited over the summer. The two organizations, together, will provide an even deeper end-to-end solution that truly encapsulates the evolution of the Future of Work movement.

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