How do organizations build a virtual talent bench?
A virtual talent bench is a pool of pre-qualified independent professionals who are vetted, onboarded, and ready to engage quickly when organizations need specialized skills.
A virtual talent bench can help organizations remain flexible and competitive. Establishing a group of reliable talent as a virtual bench allows for simplified, rapid deployment, minimizes the risk of worker misclassification, and helps attracts top talent with the prospect of getting to work quickly and easily.
While there are many factors to consider when designing your own virtual bench, there are a few important components that apply to the majority of enterprises.
Here are six best practices to follow when designing a compliant, cost-effective virtual talent bench. Organizations can build an effective virtual talent bench by creating structured processes that support onboarding, compliance, and strong relationships with independent professionals.
1. Create a Transparent Scope of Work (SOW) for Independent Talent
A clear Scope of Work (SOW) outlines the details of a project, including budgets, timelines, deadlines, and deliverables. A transparent SOW helps to minimize risk and set realistic expectations for both enterprise manager and independent talent. A good SOW will help projects move quickly and smoothly by setting expectations and establishing a process for change management upfront.
2. Conduct Background Checks for Independent Contractors
Background checks are an important step most organizations need to take before offering a role. Creating a streamlined onboarding process that includes a quick and easy background check process will help talent get to work quickly and protect your company from a legal perspective.
3. Validate Contractor Work Arrangements and Compliance
Depending on the industry your company is in and the type of role you are looking to fill, you may have specific work arrangement requirements. For example, certain compliance measures might need to be met depending on what state talent is working from, or if talent sits on your virtual bench for a certain amount of time without a project, they may require work arrangement re-evaluation. Establishing processes for work arrangement specifications will help support flexibility for talent, and help talent get to work faster when you need them.
4. Create a Positive Experience for Independent Talent
Having a fast and efficient contracting and onboarding process—including having automated systems to limit paperwork—is an important factor that influences the clients with whom top independent talent choose to work. The better experience you can make for talent, the happier they will be, and the more likely they will be to stick around.
5. Review Equipment and Technology Requirements for Independent Contractors
If the roles your company is looking to fill require the use of specific software or laptops, it is important to establish procedures for deployment and use of this equipment. By maintaining a stock of equipment and set rules for use, talent will be able to get to work quickly.
6. Ensure Contractors Complete Ethics and Compliance Training
Many organizations will require independent contractors to complete ethics and compliance training before starting work. Requiring your virtual talent bench to complete this training even if they are not currently working on a project (and compensating them accordingly) will help create an efficient and streamlined onboarding process.
By building a virtual talent bench of trusted independent professionals, organizations can respond to project needs faster while maintaining flexibility and access to specialized expertise.
Want to learn more about creating a virtual talent bench at your organization? Schedule a consultation today.
The information provided in the MBO Blog does not constitute legal, tax or financial advice. It does not take into account your particular circumstances, objectives, legal and financial situation or needs. Before acting on any information in the MBO Blog you should consider the appropriateness of the information for your situation in consultation with a professional advisor of your choosing.
