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Posted: Sat Dec 28, 2024 9:07 am
It’s critical work to do, but it will take time. So, what do you do with the talent you need now? “We’re going to have to get better at leveraging the labor we have,” Ron Hetrick told SHRM about the hiring crisis .
Hetrick is chief labor economist at Lightcast, formerly known as Emsi. Digital-enabled companies have realized this. They are adopting a modern workforce model of growth through contraction that allows them to maintain a small team, even during periods of growth.
They then “skill-source” all the other talent needed to keep the business running according to plan. By sourcing talent, companies can complete initiatives on time, push the boundaries of what they can achieve, increase diversity within teams, and improve employee retention rates.
What is growth through contraction? Growth through shrinkage is oman mobile phone numbers database a workforce model that allows you to maintain a small core team of employees by leveraging freelance marketplaces like Nafthly . In this model, your small team focuses on the work that no one else can do or that leverages their strengths.
You then outsource the rest to freelancers (on-demand talent), who often work remotely. This may sound similar to outsourcing, but there is an important difference. When you outsource, you are giving up the entire project even if you have some of the skills needed internally.
You have higher risks, and employees often feel threatened, believing that their jobs are being given to someone else. When you employ a growth-by-shrink business model, you retain ownership of some aspects of the project. You bring in a freelancer on-demand to contribute where you don’t have the skillsets.
Hetrick is chief labor economist at Lightcast, formerly known as Emsi. Digital-enabled companies have realized this. They are adopting a modern workforce model of growth through contraction that allows them to maintain a small team, even during periods of growth.
They then “skill-source” all the other talent needed to keep the business running according to plan. By sourcing talent, companies can complete initiatives on time, push the boundaries of what they can achieve, increase diversity within teams, and improve employee retention rates.
What is growth through contraction? Growth through shrinkage is oman mobile phone numbers database a workforce model that allows you to maintain a small core team of employees by leveraging freelance marketplaces like Nafthly . In this model, your small team focuses on the work that no one else can do or that leverages their strengths.
You then outsource the rest to freelancers (on-demand talent), who often work remotely. This may sound similar to outsourcing, but there is an important difference. When you outsource, you are giving up the entire project even if you have some of the skills needed internally.
You have higher risks, and employees often feel threatened, believing that their jobs are being given to someone else. When you employ a growth-by-shrink business model, you retain ownership of some aspects of the project. You bring in a freelancer on-demand to contribute where you don’t have the skillsets.