The Transformational Impact of a Dynamic Workforce
The Transformational Impact of a Dynamic Workforce™
Forward-Looking C-Suites Are Driving a Revolution in Workforce Strategy
Download the report
There’s a quiet but powerful revolution underway, with the potential to dramatically transform the composition of the workforce.
Spurred by the rapid pace of transformation — and driven by the C-suite — the most successful companies at transformation are creating a very intentional ecosystem that includes an almost 50-50 split between full-time employees and outside talent.
We call this the Dynamic WorkforceTM.
Research Overview
We believe this Dynamic Workforce model is a paradigm shift with the potential to deliver significant competitive advantage. Organizations that harness this very intentional mix of internal and external talent benefit from faster time to market, reduced costs, and improved employee satisfaction.
To better understand the benefits and key factors for success, we surveyed senior executives of global companies across four industry sectors, including technology, financial services, life sciences, and healthcare.
42% of companies did not have enough internal talent to fully staff their transformation initiatives in 2022.
A Dynamic Workforce creates an enormous competitive advantage
When successfully orchestrated, a Dynamic Workforce delivers significant financial returns. Companies that were best at executing transformation saw their market capitalization increase by an average of 54% over the last five years.
Companies that are better at using the Dynamic Workforce model for transformation are beating those that cling to the static model in various areas. The best companies are nearly twice as likely to gain competitive advantages.
Leaders vs. Laggards Initiative Scorecard
(% reporting strong or exceptional results in each category)
Key Insight
The Dynamic Workforce model helped companies we studied to become more efficient, agile and innovative. But this requires a new level of openness and transparency, a culture of intense innovation, and a workplace that is highly automated and digitized.
How the best companies fill critical skills gaps to execute transformation
Among the global companies we surveyed, the average organization was managing 20 ongoing transformation initiatives at any given time — a number they predict will increase over the next few years. This has only increased pressure to find the highly skilled talent to execute these important business transformations.
The most successful companies utilize a mix that includes almost 50% outside talent. They rigorously scope out the right skills, bringing individuals together to form an extraordinarily collaborative unit with a strong sense of both culture and purpose.
The Dynamic Workforce model is here for the foreseeable future. I don’t see us going back.
Guru Ramamurthy, Bayer U.S. Chief Financial Officer and Chief Financial Officer of Asklepios Biopharmaceuticals Inc. (AskBio)
Creating a successful Dynamic Workforce
Based on our research, we see six major elements to making the Dynamic Workforce model work for corporate transformation initiatives:
- Bring the right people to the table to devise the workforce model.
- Shift workforce model design from “jobs” to “skills.”
- Right-size initiatives with the optimal number of people on the team.
- Select the optimal mix of employees and external talent and which skills to “own” versus “rent.”
- Find strong candidates and evaluate for expertise and culture fit.
- Create a positive team culture and keep it strong.
Interested in building a Dynamic Workforce with seasoned professionals who have the skills needed to execute transformation?
Let’s Talk
Subscribe to The
Now of Work
MORE RESEARCH
Explore the latest research from RGP
The Transformational Impact of a Dynamic Workforce™
Learn how forward-looking C-Suites are driving a revolution in workforce strategy.
