Contingent workforce program managers and sourcing consultants are being inundated by hiring managers with requests to find additional contingent workers immediately. As readers know from our series of Extended Workforce Intelligence Reports, the pandemic and subsequent economic recovery have led to unstable and quickly-changing market dynamics for contract labor. Demand, supply, preferred locations, rates, and supplier mark-ups have all been changing simultaneously. And finding workers quickly has become harder and harder.
We recently released a new version of the popular TDX tool that allows these program staff to have a calm, data-informed conversation with anxious hiring managers. The tool gives program staff Superman-like X-ray vision powers to see exactly how to fill a requisition faster. We call this tool Fillability because it lets program staff see:
· How long a new requisition will take to fill
· Why an unfilled requisition might not be filled in any reasonable timeframe
· And, most importantly, how to speed things up
Since TDX tracks such a large percentage of the market ($400 billion in actual contract work transactions and growing every week feed our models), TDX knows how long it takes to fill requisitions with specific requirements in current markets. The user can toggle different changes—location, bill rate, experience level, assignment length, etc.—and immediately see how those changes will impact the number of days to fill that requisition and can show that to hiring managers.
TDX users can be a hero with their hiring managers by showing them the different levers at their disposal to find that great contingent worker faster, and the relative impact of each of those levers on the time to get that person. It allows program staff to tell hiring manager things like:
· Well, if you are willing to have this worker in Raleigh rather than in Philadelphia, we can find you someone two weeks faster; or
· If you are willing to pay $12+ an hour for this position we could cut our time-to-fill in half
What makes the TDX Fillability tool so unique and powerful is that it is:
· Based on Current Conditions: Tracks quickly-changing labor markets in real time
· Prescriptive: Shows the locations that will fill the fastest
· Flexible: Shows the speed impact of other potential changes to the assignment—bill rate, level, duration, etc.