Building a blended workforceBY DOUG EDMONDS
Even with some caution in the region driven by continued global economic instability, Singapore’s labour market continues to be characterised by critical skills-shortages, particularly in industries such as oil & gas, engineering, financial services and infrastructure.
This, together with that fact that new technology is enabling business models to adapt at rapid pace, means finding the right skills becomes even more important.
These trends are driving the rise of the blended workforce — where contractors, freelancers and consultants work alongside the permanent workforce in a critical capacity.
While some organisations are embracing this approach, others are missing a key opportunity to shape a diverse and dynamic workplace with free agents. To stay ahead of the market, there is a need for business leaders to embrace, build and nurture a blended workforce.
Here are five reasons why:
1. Attract and retain talent
The type of work we do and the people we need to do it is changing right across the region. Modern growth industries require a constant flow of qualified professionals and technical specialists. Managing a blended workforce strategy will help employers in the region to achieve an ongoing state of talent readiness – ensuring the right people are in the right jobs at the right time to drive business performance and growth.
2. Enable flexible work options
Using highly skilled contingent labour to fill critical gaps enables organisations to accommodate the growing ranks of permanent employees seeking greater work/life balance through shorter working hours, extended leave entitlements, or part-time employment.
3. Create a dynamic workforce
Bringing in fresh expertise will energise teams, remove demoralising pressure, and provide new opportunities for learning and development. Greater diversity will be an important success factor for a regional economy facing fewer new workforce entrants over the coming decade.
4. Tap into new skills and experience
A blended workforce will benefit from new skills and experience across the generations. Baby boomers easing their way out of the workforce can help develop the next generation of leaders, Gen X offers expert professional skills and Millennials are prized for their creative and technology skills.
5. Improve speed to market
Giving expert contractors more responsibility and influence in the workplace helps meet the demands of shorter markets cycles. The drive to innovate will continue to make work more project based and outcome led, ensuring the continuous need for external expertise.
Building a blended workforce is a positive development for organisations in Singapore, as it will help them attract, retain and lead talent in the workplace of the future.
Doug Edmonds, Regional Director – Asia Pacific, Randstad Sourceright