The workforce of the future: How data and predictive analytics will drive workforce planning

There’s been a lot of talks recently about talent analytics. Companies with their eyes on the future are using strategic workforce planning to make sure they have all the resources they need in place to deliver long-term business goals even during difficult times. Strategic workforce planning these days involves data analysis and predictive business analytics – which are both driving innovative approaches to some of the thorniest talent problems. Managed services programs have historically been all about tactical execution and saving money – but recently, that’s changed. They’ve broadened their horizons to include data gathering and analysis and started partnering with clients to make strategic decisions. Companies today expect MSPs and RPOs to assess their recruitment suppliers’ performance – both past performance and current performance in real-time – and to crunch vast amounts of complex data on the internal workforce, then combine it with knowledge of the external job market to deliver useful insights. This means good MSP providers can actually predict the supply of future talent and how to acquire the best. The best MSPs will also provide clients with real-time access to all the data on the whole recruitment cycle, so they can use it to take part in strategic decision-making on forecasting and planning. For the highest chances of success, this trend for demand forecasting and predictive models needs to go beyond the MSP-client relationship and involve data sharing and cooperation throughout the whole supply chain.