How Companies Are Using Talent Marketplaces To Promote Talent Mobility
The hiring managers get access to the required skill-sets and talent fast and the employees get an opportunity to utilise and develop their skills as well as aspirations they are passionate about.
The future of work and workforce is very different from what it has been all these years. Going by the key trends shaping up over the last few months, digital, virtual, remote, on-demand, cost-optimisation, employee engagement, agile and life-long learning are a few buzz words difficult to ignore, even when it comes to planning the work, as well as the workforce strategy, for most of the organisations right from the global fortune enterprises to startups.
Every business is undergoing a rapid change and the business models are shifting fast. And with the people at the centre of every business, here are the three key elements that form an essential part of the talent strategy impacting the future of work:
- How do organisations enable an environment and culture of life-long learning for their employees?
- How do organisations keep their employees highly engaged so as to improve employee productivity as well as retention, leading to capability building and cost-optimisation?
- How do organisations harness the talent and skill-sets available within, without having to worry about the physical barriers or borders, as well as the actual role the talent was hired for?
This is where developing and implementing an internal talent marketplace model can be highly effective and therefore can be utilised to promote talent mobility. So, what is a ‘talent marketplace’ after all. Simply put, a talent marketplace is the term that refers to a technology-enabled platform that helps to match the demand for talent (or skills) with its supply (within or outside the organisation) using advanced technology and match-making algorithms.
When implemented internally within the confines of an organisation’s talent landscape, it (talent marketplace) is called an internal talent marketplace that provides a digital footprint and data of all the available job roles, tasks, projects, gigs or short-term assignments, project-based skill requirements posted by various hiring managers on the demand side and the data on the actual skill-sets of the talent available within the organisation irrespective of the physical location of that talent, on the supply side; and these being matched with each other by using technology and smart algorithms, helping the organisation, as well as the employees, benefiting from this.
This article is originally published in ETHRWorld.com