"Companies may be in hiring mode, but the harsh reality is there is not enough talent to meet demand," said Amy Doyle, vice president of Strategic Client Solutions, ManpowerGroup Solutions. "With the shortage showing no signs of easing, and skills needs changing faster than ever, meeting growth objectives requires new ways of thinking, behaving and hiring."

A new approach to hiring is needed, one in which talent has the opportunity to develop and thrive in agile environments while enabling growth-oriented companies to maximize available talent, according to the paper, "Collaborating With Competitors: Sharing Talent Pools to Meet Workforce Challenges."

ManpowerGroup Solutions has identified four critical factors to consider when developing shared talent pools:

• Involve the right type of talent. With contingent labor, the cycle is fast, the perceived stakes are low and there are more workers available than ever before.

• Focus on highly targeted initiatives requiring in-demand skills. Initial models would likely involve targeted pilot initiatives focused on a particular skill or group of skills

• Design with talent in mind. A shared talent pool will generate long-term relationships between employers and talent, ensuring talent is continuously nurtured as part of a community.

• Establish ground rules. This includes understanding roles not likely to be included, what happens when a full-time offer is made, how and when talent can be accessed, and more.

"Better prepared and better organized candidate pools can work," Doyle said. "Companies willing to explore new workforce models, to collaborate in new ways with talent and with competitors, may find that long-term success lies in sharing the right talent."

ManpowerGroup Solutions provides clients with outsourcing services related to human resources functions, primarily in the areas of large-scale recruiting and workforce-intensive initiatives that are outcome-based.

Source: ManpowerGroup Solutions