CEOs need to develop flexible workforce: ManpowerGroup

DAVOS: As companies find it challenging to find right talent, global human resource major ManpowerGroup has suggested they develop a flexible workforce and identify 'under-utilised' talent pools.

In an open letter to CEOs, released here at the WEF Annual Meeting, Manpower said that the external environment in which the companies operate today is more dynamic than ever.

"Business cycles continue to compress, driven by fast-paced, technology-enabled change. Domestic markets are subject to geopolitical risks from places far afield. Unstable GDP makes planning difficult, while soft demand hampers business growth.

"The changes once considered cyclical are proving to be structural, creating unpredictability and new challenges. Competitive advantage is increasingly transient and companies need strategic and operational agility to operate in this environment of uncertainty," ManpowerGroup chief Jonas Prising said in the letter.

In order to seize transient competitive advantage, companies need an agile workforce strategy, he said.

Outlining the talent strategy for the companies in 2015, Prising asked them to encourage agile mind-set and develop a flexible workforce

Besides, CEOs should identify and invest in underutilised talent pools. "When 36 per cent of employers struggle to fill positions yet only 23 per cent seek to recruit from alternative talent pools (as per a Manpower survey).

"Is your company positioned as a 'talent destination'? Are you reaching across boundaries and demographics to access top talent who can take on multiple roles and create a sustainable talent pipeline?," the letter asked.

As third major talent strategy, ManPower has asked the CEOs to develop a culture of life-long learning and ensure faster 'time-to-value'.