Complete Guide to Talent Marketplaces - FlexC

1. A Complete Guide to Talent Marketplaces The majority of talent management principles were simple for a very long time. Employees were hired to perform a particular task, and they were overseen by a manager who in turn was overseen by another manager in the same function all the way to the top. Everyone had the same choice: to climb higher or to leave their current position on the same vertical rung. Since there was little room to question the status quo or think creatively, talent management tools were not created with agility in mind. The same set of tools won't work anymore because HR is now a much more strategic role. Instead of just filling out spreadsheets, contemporary people leaders are revolutionising the way we work and the relationship between employees and employers. To unlock agility, get ready for the future of work, and make sure the right skills are in the right places, they need transformative solutions. Marketplaces for talent can help in this situation. Talent Marketplaces: Definition Marketplaces for talent are not an upgrade to conventional human resource technology. They are not tools for managing human capital. 2.0. Simply put, the talent marketplace is a two-sided platform that matches employees (and their skills) to projects, gigs, mentorships, and full-time roles within their organisation using artificial intelligence (AI). It doesn't take much searching to find examples of how market forces have already changed other facets of our daily lives. When we travel outside of town, we no longer need to call a cab or book a hotel room; instead, Uber gets everyone where they need to go and Airbnb helps us find a place to stay. Talent marketplaces use the same model to change the way we work by giving HR and business leaders on-demand access to qualified employees who can be assigned to new tasks as priorities change and new problems occur. Benefits of Utilising a Talent Marketplace There is no denying that establishing a talent marketplace signifies a major change. You must reconsider speed and use AI to go deep and wide in an organisation. Schneider Electric was one of the platform's early adopters, and their VP of Digital Talent Transformation, Jean Pelletier, even goes so far as to say, "It's a complete rewrite of HR." Although it is a big change, the talent marketplace has some really good benefits:

2. Agility Is Increased Agility became clear as the deciding factor for businesses during COVID-19. And as we move past the pandemic and into our new working environment, the importance of acting quickly and evolving will only increase. Even though most leaders lack the resources to achieve organisational agility, nine out of ten executives believe it is essential to business success. The inability of leaders in particular to fully understand the skill sets of their workforces prevents talent from being quickly reassigned to meet changing priorities. Talent marketplaces make it possible to change direction and reassign quickly. Limiting silos Organisational silos are aided by traditional, rigid hierarchies. Knowledge is trapped in various areas of the company when employees only know what is happening in their department. The potential of your workforce is not being fully realised because employees' talents and skills are only utilised within their teams. Businesses lose 20 to 30 percent of their annual revenue each year as a result of the inefficiencies brought on by silos. On the other hand, talent marketplaces remove barriers so that your staff can share their skills with coworkers throughout the organisation. Employees can work together to achieve previously unachievable performance goals by collaborating across functional boundaries, contributing when they have extra capacity, and working cooperatively. Boost participation and retention Employees will look for a future elsewhere if they do not see one with your business. In their opinion, their manager could have done more to keep them from leaving, according to 52% of departing workers. Many employees once thought that the only route for their careers was vertical advancement. By allowing employees to move laterally and look for new opportunities that match their skills and aspirations as well as your company's priorities, talent marketplaces broaden employees' horizons. About FlexC The goal of FlexC's founding was to introduce the top Indian talent to international markets. FlexC focuses on bringing together verified experts, ardent leaders, founders, and executives in a dynamic setting. Our platform's power and the amazing AI technology that sets us apart reflect our dedication to excellence. In addition to offering the best freelance jobs in India, we work hard to be the best platform for hiring and managing hybrid workforces.