Talent Supply Chain Management

As there is a regular demand of goods and services in the market, so is the demand for talent or as we may call it – the human capital in the industries. The demand for human capital is consistent and unending. It is inexorable that companies maintain a regular inflow of talent into their system. Talent sourcing or talent supply must be done at a proactive level. If not done so, it will lead to a lacuna in the human capital of the company which may take ages to be filled. This will eventually lead to an inconsistency in running the operations of the company.

Just as a supply chain management provides timely delivery of goods and services, similarly a talent supply chain management is the network of activities that ensure timely availability of human capital to the company. Organisational needs are dynamic and keep on changing day by day. The workforce is changing too and companies now face an ever increasing gap of skilled manpower. The growing commercialisation and shortage of talent will have a severe impact on the global economy if it is not prepared for in advance.The principles of supply chain management can be utilised in the talent management system to anticipate and meet the human capital demand.

How to build a talent management supply chain

1. Creating a resourcing strategy: The first step in creating a talent supply chain is to plan a sourcing strategy. You need to identify the kind of human capital that your business will require. Then you need to divide the workforce requirements into categories such as full time, part time, third party associates, etc.

2. Look what’s inside: The next step in the talent supply chain is to identify the talent that you already have within your organisation. They may be working in different units, sectors but they may have the skills and expertise that you require in the upcoming days. Your internal manpower assets can be identified with the help of internal assessments and job rotations.

3. Create an inventory: You may regularly come across candidate profiles that are immensely good but you do not have any relevant opening to fit them in at that time. It is a best practise to maintain a database of such profiles as your human capital inventory. This inventory will be highly useful at the time of workforce crisis and will save a lot of your time and effort.

4. Human Capital development: Sometimes what you seek may be obtained by training your existing employees. This enables the business to grow along with the growth of the employees. Your business get the benefit of upgraded skills with the existing experience of your team.

5. Research& Redesign: It is essential for every business manager to keep updated with the market trends with regard to workforce. Redesign your team by shuffling jobs or training them to meet your business needs. Change is imperative in ever business.

Talent Supply Chain Management

Most of all, it is necessary that you have a futuristic outlook when planning for your manpower requirements. It is always better to keep a few extra helping hands handy for any exigency that your business may ?.