THE ROLE OF DYNAMIC TALENT ALLOCATION IN SHAPPING THE FUTURE OF WORK

There has been a drastic transformation in the day-to-day functioning of the workplace over the past few years. Whether it is an agency working on multiple clients or medium to large scale organizations chasing long-term goals, there has been a transformational shift in how businesses approach talent.

 With the pandemic pushing the work-from-home culture that is now transforming into hybrid teams, talent allocation has never been more critical to the success of any organization.

When the global economy is reeling from The Great Resignation and wage increase, the talent shortage is a reality.

 An increasing number of companies are focused on upskilling and reskilling their available talent base and scouting for better talent in the market. Therefore, optimum utilization of resources is one of the most critical aspects of staying ahead in the game.

Opting for a dynamic talent allocation is better than staying satisfied with the traditional methods. Some organizations are choosing a flow-to-work model to increase productivity within the team.

 Compared to a traditional model where a team is focused on a project and is responsible for its outcome, talent pools are created in the flow-to-work model that can be deployed flexibly as required by the business. This is also known as dynamic talent allocation.

The pools are created under dynamic talent allocation as per the workforce's skills rather than the business function. When the need arises, the talent pool works flexibly for the set targets. Here is all you need to know about dynamic talent allocation and how it can shape the future of work:

What is Dynamic Talent Allocation?

Dynamic talent allocation or flow-to-work model is an effective organizational response to the modern-day workforce challenges. Under the dynamic talent allocation model, teams are divided as per their skill sets. These teams can work on a variety of projects as per the organization's needs.

The dynamic talent allocation model is not new to organizations. However, it has remained limited to functions like finance, human resources, legal, etc. With the evolving modern workplace, companies are finding success following dynamic talent allocation across areas like analytics, project management, engineering, etc.

Rather than being tied to a client or a project, the talent pools work on various projects based on their expertise and the needs of the company.

Benefits of Dynamic Talent Allocation

There are several benefits of following dynamic talent allocation for the organization. Some key benefits of dynamic talent allocation are as follows:

Optimal utilization of talent

Dynamic talent allocation helps you utilize the available talent optimally across the organization's various needs. In current times when talent is scarce and project requirements are getting increasingly complex, it is better to have talent pools as per their skill sets and make full use of their talent.

Highly responsive to changing requirements

Dynamic talent allocation makes teams highly responsive to the changing requirements of the business. Rather than creating separate teams for each project or client, it makes more sense for companies to have a common talent pool across varieties of skills. These talent pools work under the Resource Manager. He oversees the talent and the delivery of their service.

Tailor-made roles as per skill levels

As each project or client may require a different skill set across the cycle of the project, it is better to have a talent pool with individuals with varying levels of skill proficiency. This helps in allocating resources as per the needs of the project.

Is Dynamic Talent Allocation a Good Fit for Your Organization?

Achieving dynamic talent allocation in an organization needs more than just a few steps. You need a mindset shift to achieve dynamic talent allocation in your team. But before that, you need to have fundamental clarity if dynamic talent allocation is suitable for your business. Here are some questions that you can need to answer before opting for dynamic talent allocation for your workplace:

What is the nature of work?

One of the most important steps is to understand the nature of the work undertaken by the company. The traditional model should be followed if the organization is in a work area that needs teams to perform repetitive tasks. A flexible model is more suitable in an ecosystem where expert skills are required across various areas in an organization. 

How can talent Pools be developed?

Another important consideration before you jump towards the flow-to-work model is how you see the development of talent pools in an organization. Moving to a dynamic talent allocation is a challenging task, especially for organizations working in traditional models for years. It is essential to be clear about how talent pools work, what roles they play, how performance is measured, and whether they will benefit the organization in the long run.

How can talent pools be deployed?

Developing the talent pools within the organization is one thing, and it is another to deploy them to various organizational requirements. Organizations typically follow one of the three popular models under dynamic talent allocation – project-based deployment, centers of excellence, or advisory partnering.

Under project-based deployment, an employee is deployed to a project to solve a particular problem in a specific period.

The Center of excellence has employees who understand a particular subject area. These employees are part of the talent pool, and they are usually working on a few projects at a given point in time.

In an advisory partnering role, the team member's skill sets are available across the various projects of the organization. It is typically suitable for senior HR or legal members who typically work across multiple work areas. 

How do we rotate talent?

Before you deploy a dynamic talent allocation in your organization, there are various factors at play. The system needs to answer key questions of professional development, skill-work match, available capacity, and long-term goals of the organization.

Once you have answers to these queries, you can figure out how to rotate talent within the team. This is important because you need a workable model where talent rotates across projects.

Conclusion

For dynamic talent allocation to work as expected, an organization needs to have clear people-centric policies so that the growth of people does not take a back seat. It is essential to focus on people-centric goals for better job satisfaction.

At the same time, it is critical to understand the business's priorities. As every effort flows from the allocated responsibilities, it is crucial to have the long-term vision and priorities of the business.

To read more such interesting content and explore how the talent management space is evolving, visit the Cogent Infotech website.