A global technology and travel company wanted to define the global workforce landscape relative to its business. Specifically, the company wanted to understand global market dynamics in real time so it could continually adjust business and workforce strategy accordingly.
The company turned to Talent Solutions’ Total Workforce Index, which tracks labor market trends and global economic climate, spanning 76 markets and 100 unique factors/data points. Workforce analysis experts collaborated with the client’s HR and procurement leaders to create a custom version of the index. This custom index included 12 additional countries relevant to their existing or projected footprint and 19 data points specific to their business, including airline traffic density, airport traffic, hotel usage, online credit card purchases, and technology and demographic usage within their core market audience. These industry-specific indicators shape an advanced business and workforce strategy for navigating shifting market dynamics. For example, if the client were considering investing in emerging markets, their HR team could look at the viability of market growth and workforce skills availability. Such sophisticated insights shaped business planning related to market expansion opportunities as well as helps the client understand sourcing and pricing options related to employee and contract labor strategies.
The Talent Solutions team’s analysis exceeded the client’s expectations and delivered the following results:
- Quarterly data refreshes enabled the index to help the client proactively shift policy and process related to recent and imminent legislative changes.
- Consultative guidance from Talent Solutions’ analysts augments these data-driven insights, enabling the client to make strategic workforce decisions related to resource planning, market entry, and compensation strategy with confidence and precision.
- The client used the index’s data to vet and validate six market expansions in the first year and exceeded goals for increasing position fulfillment and retention by 5 to 10 percent.