How a Global Staffing Firm Faces the Coming Shortage of Technical Talent
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A global staffing company wanted to proactively prepare itself for looming shortages in science, engineering, and IT talent – one of the company’s key markets for placing contract personnel.
The President’s Council of Advisors on Science and Technology predicts a shortage of 1 million technical professionals in the coming decade. As a result, staffing companies will be compelled to compete ferociously for this limited pool of talent – not simply to contract them out for one-off assignments but to win their loyalty for repeated assignments.
Factors to Consider
The market for contract talent has traditionally been highly commoditized. The only way a firm can differentiate itself from the competition is through the quality of its talent. Because high-demand technical talent will be able to go with any staffing firm they choose at any time, our client wanted to find the right formula for recruiting them and winning their long-term loyalty.
Our assessment of the firm’s recruiters identified the key factors that contributed to their success and the key obstacles that impeded it. Combining those insights with the insights around contractor-care, we developed a holistic operating model designed to ensure a long-term supply of technical talent, to energize recruiters, and to provide the support structure to make it work. The client came to us wanting to know what their recruitment and retention model should look like in the future. Working together, we were then able to create a vision of how a next-generation staffing firm should operate and a roadmap for getting there.
Result + Benefits
Working with Fuld & Company, they investigated best practices throughout the industry and assessed their contract talent, their recruiters, and the company’s support infrastructure. What they discovered was a major opportunity to leap ahead of the competition by holistically refashioning their talent recruitment and retention practices, with the goal of creating a new best-in-class model.