Balancing Holistic Workforce Culture with Risk and Legal Challenges
Risk management and legal challenges are two of the biggest hurdles talent procurement leaders, talent management leaders, and HR professionals face when trying to create a holistic workforce culture. While it's important to manage risk, it's also crucial to maintain a positive work environment that attracts top talent.
As more and more companies embrace concepts like total talent management, they must also pay close attention to how they define, treat, and compensate different types of workers.
In this article, we will explore how to balance these two concepts and create a total talent management strategy that meets the needs of your business.
What is Total Talent Management?
Total talent management (TTM) is a business strategy that focuses on the acquisition, development, and retention of talent. It encompasses all types of workers, including full-time employees, contractors, contingent workers, and temps.
The goal of total talent management is to create a cohesive workforce that can meet the needs of the business. This can be done by aligning the recruiting, staffing, and development processes with the company's strategic goals.
TTM also helps to manage risk by ensuring that all workers are properly vetted and qualified and that their roles are clearly defined. It also makes it easier to track and monitor worker performance, which can help to prevent or mitigate legal challenges.
What Legal Risks Can Arise from Holistic Workforce Culture?
When it comes to managing a holistic workforce culture, there are always legal risks to consider. For example, employers need to be careful about how they classify workers. Employees must be classified as employees, independent contractors, or interns to ensure that the employer is not responsible for any workplace-related taxes or benefits for the worker. Misclassifying workers can lead to costly legal battles, so employers need to be aware of the different classifications and their associated risks.
Employers must ensure that all workers are treated equally and fairly, regardless of race, religion, sex, age, or disability status. Failing to do so can result in lawsuits from disgruntled employees.
Additionally, employers need to be aware of the potential for breach of contract lawsuits when using contingent workers. If the terms and conditions of the contract are not met, the contingent worker may sue the employer for damages.
Balancing Legal Risk with Concepts like Total Talent Management
So how can talent procurement leaders, talent management leaders, and HR professionals balance legal risk with concepts like total talent management?
Total talent management is designed to create a blended work environment in which full- and part-time employees, contractors, and contingent workers operate in a "blended" work environment in which they are all subject to the same HR policies. Often, TTM environments involve every worker, regardless of status, working together on set goals.
While different types of workers may perform similar functions and be subject to the same HR policies, they must be separated "on paper." Any legal differentiation of how each worker type must be treated must also be reflected in the management of those workers.
The strategy should include guidelines for how each type of worker should be treated in terms of job classification, benefits, pay, and other workplace rights.
Why Should Companies Pursue Total Talent Management?
Once any legal risks are mitigated, there are many benefits to a total talent management strategy. A holistic workforce culture is one such benefit.
A holistic workforce culture means that employees are considered not only for their skills and abilities but also for the total person. This includes their character, values, and beliefs. It also considers their personal goals and objectives.
When a company adopts a total talent management strategy, it can identify and assess the total talent of its employees. This allows them to place the right people in the right positions, maximizing their potential and minimizing risk. A total talent management strategy can help companies retain top talent by meeting their individual needs.
Ultimately, a total talent management strategy can help companies achieve greater success. By taking a holistic approach to employee assessment and placement, alongside a strict definition of employee types, risks can be minimized, and the company can more effectively benefit from the unique abilities of its employees.