Study Uncovers Alarming Lack of Management in Workforce Control
Published 2009-05-13
Orlando, Fla. — May 13
A Workforce Trends Study, commissioned by Yoh Talent Solutions, found that companies actually have much less control of their workforces than they believe. Roughly 70 percent of business leaders surveyed reported their companies have strategic workforce plans in place, but on average, only 25 percent have the ability to calculate spend and ROI outside their full-time employee bases.
"Organizational efficiencies and savings can be effectively achieved through a re-evaluation of the entire workforce," said Bill Yoh, president and CEO of Yoh. "Companies rarely evaluate the cost savings that can be achieved by placing control mechanisms in key workforce areas: professional temporary workers, independent contractors, consultants and individuals contributing through statements of work. But by evaluating the entire workforce, companies are placing themselves in a position to succeed, especially in today's changing economy."
The Workforce Trends Study was completed by more than 150 business leaders from leading companies nationwide in the first quarter of 2009. It identified how managing a seamless workforce in today's shifting global economy impacts a company's approach to comprehensive talent management.
"As margins shrink and business volatility increases, organizations are becoming increasingly creative with the composition of their workforce," said Dana Shaw, executive director of Strategic Solutions at Staffing Industry Analysts.
"While the value of incorporating non-employees into the workforce is well-understood, we agree the optimal level of their use is less known. Complicating matters further are differing labor laws and work cultures around the globe, each presenting a unique set of challenges and opportunities for leveraging the flexible workforce."
The survey also examined organizations' strategies in creating responsive and productive workforces, including flexible workers. Results show workforces are fragmented, lacking centralized management and are not optimized to withstand economic turmoil or support organizational excellence.
Yoh Talent Solutions, a provider of talent and outsourcing services, will announce the complete results of the Workforce Trends Study at the Sapphire 2009 conference.
