The International Monetary Fund (IMF) states that we are facing the possibility of a severe downturn that rivals the economic recession of 1970.
Did you know that Walmart (the largest employer in the US) has dropped its hiring total by a whopping 73% from last year? And, thus far in 2022, more than 650 startups and tech firms have laid off more than 110,000 employees.
High-profile brands are facing the same fate.
Layoffs and hiring freezes have been reported at Amazon, Tesla, Google, and Ford. Gap Inc. planned to cut roughly 500 positions in New York, San Francisco, and Asia.
While the top reasons for a hiring freeze include fluctuating demands and economic uncertainty, Learning and Development (L&D) managers are feeling the pressure. With no new talent entering the company amidst severe staffing gaps, L&D goals remain unchanged. Learning and Development needs are showing no signs of slowing down!
During this challenging time, outsourcing and staff augmentation provide a beacon of hope and flexibility to organizations looking to steady the ship. Outsourcing provides an opportunity to rethink recruitment and talent strategies and assists HR to do more with less.
In this recorded webinar, Debbie Woolridge and Dana Janssen delve deep into just that—demystifying outsourcing and staff augmentation services to effectively address staffing gaps during uncertain times.
The four broad topics covered in this webinar are:
- Internal strategies & how to do more with less
- Outsourcing solutions & which is right for you
- 8 most common fears & how to face them
- Common pitfalls & best practices for success
Before you proceed, begin by taking stock of what hiring challenges you are currently facing in your organization. Is it a lack of qualified candidates, a competitive job market, or something else?
Dana shares 5 ways to rethink your recruitment/talent strategies and project outsourcing:
- Explore reentry opportunities
- Broaden talent market
- Reevaluate hiring criteria
- Engage mentoring
- Introduce referral incentives
Is your organization going through a hiring freeze or layoffs? It’s ironic that The Great Resignation has created a big pool of available resources but many companies are unable to capitalize due to the hiring freeze.
Debbie illustrates how you can offset some of these challenges, especially in the Learning and Development departments. An outsourced training vendor can be the extra pair of hands (or 5) to meet L&D goals.
There are two ways to utilize the services of your outsourced training vendor:
- Project Outsourcing - where the project team leads and executes projects independently. It frees up internal L&D resources for other priorities.
- Staff Augmentation - offers a flexible staffing supplement for short or long-term needs.
Watch the webinar to understand project outsourcing considerations and the compelling benefits that staff augmentation services offer organizations.
There’s also a third approach—-going hybrid, the best of both worlds! In the webinar, Debbie shares a case study of a hybrid approach deployed with a client, Bank of America.
Staff augmentation services offer more bang for your buck than you think. Your training vendor should be able to find creative ways to meet your unique needs—maximizing the budget between resources, scoping and proper utilization of resource skills are some of the tried and tested methods.
Be specific and transparent to overcome communication barriers. Speak to your vendor about their vetting process to ensure success through the life cycle of the engagement.
The chosen outsourcing vendor must function like an extension of your own L&D team, and understand your business goals and training objectives to create a training course as per expectations.
To draw the best out of your custom partner, here is an ebook with seven best practices to ensure success from such a partnership.
ELB Learning can help you find the perfect fit. Draw from a pool of vetted and experienced L&D professionals and ensure that your learning projects are on time and on budget! Learn more about our staff augmentation services.