Digital HRHow data-driven insights are critical during workforce uncertainty

How data-driven insights are critical during workforce uncertainty

While the effects of COVID-19 will continue to resonate, signs of recovery are emerging in many countries, which is prompting organizations to evolve workforce strategies to ensure they are positioned for sustainable growth. 

A year ago, the Economic Policy Uncertainty Index, which ranks global economic concerns, hovered at an all-time high amidst trade wars and ever-shifting policies. COVID-19 has escalated the uncertainty with businesses scrambling to navigate the new workplace normal. Data-driven insights may provide the key.

From the ashes… a hybrid workforce arises

As the smoke clears in 2020, one thing is certain – how we work will never be the same. According to ManpowerGroup’s Q4 2020 Employment Outlook Survey, nearly everyone has seen their work-life transform due to COVID-19, with 30% starting work-from-home, 11% furloughed and one-third seeing pay reductions and reduced hours.

In response, employers are rethinking how people are hired and how and where they work. Over half (59%) plan to offer fl­exible work options for the long-term, with 20% offering the option to work remotely 100% of the time and 39% supporting some remote work.

That’s positive news for the majority of workers who seek a future of work that includes work-life balance as they continue to juggle careers and increasingly complex personal and family lives.

Employers agile enough to create this new flexible environment will find increased engagement and productivity.

Measuring workforce readiness

As business leaders navigate this new hybrid work model, they need to evaluate just how prepared they are to succeed in this new normal. Identifying what’s sustainable, opportunities for cost savings, the best mix of employee versus non-employee populations, how to best locate different skill sets in different markets, and how best to operate within changing regulatory landscapes are just some of their pressing considerations.

The 2020 Total Workforce Index™ is a one-of-a-kind tool that assesses workforce potential based on over 200 factors across 76 global markets to provide a comprehensive view of four key areas: workforce availability, cost efficiency, productivity and regulation. This year, the Index uses new remote readiness indicators (e.g. childcare gap, technical reliability, cybersecurity risk) to help companies evaluate the best markets for remote capable or remote optimal workforces.

The Index is adaptable so organizations can customize to support their short and long-term workforce planning needs, such as location strategy, remote work allocation, workforce mix and cost savings. It’s a timely solution considering that 87% of leaders are experiencing workforce gaps and are not certain how to address the problem.

Valuable insights in any language

In an increasingly connected world, there’s a growing demand for employees who can work across languages and cultures. To meet that need, a global language learning company with physical locations in multiple countries wanted to ramp up its remote learning offering by adding more instructors to their online portal.

A Total Workforce Index™ custom analysis revealed which locations had the highest quality talent pool aligned with specific language competencies and helped to pinpoint markets that would deliver the right amount of multilingual, experienced instructors to meet the higher volume of students. It also prepared the organization for the sudden shift to virtual learning globally during the pandemic.

Paving the road to recovery with talent

While the effects of COVID-19 will continue to resonate, signs of recovery are emerging in many countries, which is prompting organizations to evolve workforce strategies to ensure they are positioned for sustainable growth.

What's Hot

HRD Roundtable Report: Levelling Up Onboarding for the Hybrid World

Roundtable Report HRD Roundtable Report: Levelling Up Onboarding for the Hybrid World 5 May 2022

10m

HRD Roundtable Report: Levelling Up Onboarding for...

Attracting new talent is shooting up the priority list, but also proving more difficult than ever. A...

View event
HRD Roundtable Report: Redefining Company Culture in Hybrid Work Environments

Roundtable Report HRD Roundtable Report: Redefining Company Culture in Hybrid Work Environments 26 May 2022

10m

HRD Roundtable Report: Redefining Company Culture ...

The process of redefining a company culture is a complex one. Culture contributes directly to the da...

View event
Learning to win the talent war: how digital marketing can develop its people

Whitepaper | Talent Development Learning to win the talent war: how digital marketing can develop its people

10m

Learning to win the talent war: how digital market...

This report documents the findings of a Fireside chat held by ClickZ in the first quarter of 2022. I...

View resource
HRD Roundtable Report: Strategies For Re-Engaging The Hybrid Workforce

Roundtable Report HRD Roundtable Report: Strategies For Re-Engaging The Hybrid Workforce 5 May 2022

11m

HRD Roundtable Report: Strategies For Re-Engaging ...

We know hybrid working is here to stay, forcing many organisations to experiment with innovative and...

View event
HRD Roundtable Report: Making it ‘Worth It’ – What We Need to Reward, Engage and Retain

Roundtable Report HRD Roundtable Report: Making it ‘Worth It’ – What We Need to Reward, Engage and Retain 3 March 2022

11m

HRD Roundtable Report: Making it ‘Worth It’ – What...

We know the pandemic has caused many people to revaluate their careers and relationships with work a...

View event
Dave Ulrich: How can business and HR leaders simplify complexity?

Leadership Development Dave Ulrich: How can business and HR leaders simplify complexity?

1y Dave Ulrich

Dave Ulrich: How can business and HR leaders simpl...

HR thought leader Dave Ulrich outlines ways leaders can deal with complexity in an increasingly busy...

View article
HRD Roundtable Report: Using HR Data to Inform Organisational Decision Making

Roundtable Report HRD Roundtable Report: Using HR Data to Inform Organisational Decision Making 5 May 2022

11m

HRD Roundtable Report: Using HR Data to Inform Org...

Historically, HR hasn’t been as effective as it could be in sharing and communicating data with wide...

View event
Digital transformation investment grows but critical skills gaps remain - Coursera report

Digital HR Digital transformation investment grows but critical skills gaps remain - Coursera report

1y Leah Belsky

Digital transformation investment grows but critic...

Covid-19 has accelerated the rate of digital learning on a global scale. Coursera's latest report pr...

View article
Wellbeing in the hybrid workplace: how to successfully drive engagement

Employee Engagement Wellbeing in the hybrid workplace: how to successfully drive engagement

1y Alara Basul | Sponsored

Wellbeing in the hybrid workplace: how to successf...

Remote working has impacted the way we communicate as a workforce, but striking the right balance be...

View article
How to create a company culture capable of empowering the modern workforce

Culture How to create a company culture capable of empowering the modern workforce

1y Alara Basul | Sponsored

How to create a company culture capable of empower...

While new working patterns that emerged from the pandemic have earned a permanent spot in the w...

View article
WATCH: Connection and collaboration in a hybrid workplace

Leadership Learnings WATCH: Connection and collaboration in a hybrid workplace

1y Amy Kirkham

WATCH: Connection and collaboration in a hybrid wo...

Alison Noon-Jones, VP of People & Culture at Leidos UK & Europe, shares how crucial employee engagem...

View article
Turbulence ahead: Why it’s time to be bold in your leadership

Leadership Development Turbulence ahead: Why it’s time to be bold in your leadership

1y Terence Mauri

Turbulence ahead: Why it’s time to be bold in your...

HRD thought leader and Hack Future Lab founder Terence Mauri sets out why the biggest risk to leader...

View article

For some industries, the path to recovery may mean shifting revenue streams. In healthcare, for example, loss of revenue from cancelled procedures will be offset by growth in telehealth with physicians and health professionals seeing 50 to 175 times more patients virtually than they did before the pandemic. Effectively managing these changes will require thoughtful planning and best-in-class technologies to attract, manage and retain the best talent possible.

Discover how Talent Solutions’ Total Workforce Index™ can help your business navigate a changing world with real-time actionable data and insights.

Comments are closed.

What's Hot

HRD Roundtable Report: Levelling Up Onboarding for the Hybrid World

Roundtable Report HRD Roundtable Report: Levelling Up Onboarding for the Hybrid World 5 May 2022

10m

HRD Roundtable Report: Levelling Up Onboarding for...

Attracting new talent is shooting up the priority list, but also proving more difficult than ever. A...

View event
HRD Roundtable Report: Redefining Company Culture in Hybrid Work Environments

Roundtable Report HRD Roundtable Report: Redefining Company Culture in Hybrid Work Environments 26 May 2022

10m

HRD Roundtable Report: Redefining Company Culture ...

The process of redefining a company culture is a complex one. Culture contributes directly to the da...

View event
Learning to win the talent war: how digital marketing can develop its people

Whitepaper | Talent Development Learning to win the talent war: how digital marketing can develop its people

10m

Learning to win the talent war: how digital market...

This report documents the findings of a Fireside chat held by ClickZ in the first quarter of 2022. I...

View resource
HRD Roundtable Report: Strategies For Re-Engaging The Hybrid Workforce

Roundtable Report HRD Roundtable Report: Strategies For Re-Engaging The Hybrid Workforce 5 May 2022

11m

HRD Roundtable Report: Strategies For Re-Engaging ...

We know hybrid working is here to stay, forcing many organisations to experiment with innovative and...

View event
HRD Roundtable Report: Making it ‘Worth It’ – What We Need to Reward, Engage and Retain

Roundtable Report HRD Roundtable Report: Making it ‘Worth It’ – What We Need to Reward, Engage and Retain 3 March 2022

11m

HRD Roundtable Report: Making it ‘Worth It’ – What...

We know the pandemic has caused many people to revaluate their careers and relationships with work a...

View event
Dave Ulrich: How can business and HR leaders simplify complexity?

Leadership Development Dave Ulrich: How can business and HR leaders simplify complexity?

1y Dave Ulrich

Dave Ulrich: How can business and HR leaders simpl...

HR thought leader Dave Ulrich outlines ways leaders can deal with complexity in an increasingly busy...

View article
HRD Roundtable Report: Using HR Data to Inform Organisational Decision Making

Roundtable Report HRD Roundtable Report: Using HR Data to Inform Organisational Decision Making 5 May 2022

11m

HRD Roundtable Report: Using HR Data to Inform Org...

Historically, HR hasn’t been as effective as it could be in sharing and communicating data with wide...

View event
Digital transformation investment grows but critical skills gaps remain - Coursera report

Digital HR Digital transformation investment grows but critical skills gaps remain - Coursera report

1y Leah Belsky

Digital transformation investment grows but critic...

Covid-19 has accelerated the rate of digital learning on a global scale. Coursera's latest report pr...

View article