The technologies that businesses implement are only as valuable as the value they provide, and it's becoming clear that talent marketplaces are creating transformative value for the organisations that put their trust in them. Talent marketplaces are online platforms that bring together freelancers and businesses seeking their services. They have emerged as a popular trend in today's gig economy, and their value lies in their ability to provide a range of benefits to both freelancers and businesses.

As the economy becomes more uncertain and unpredictable, the need to create value within the company competes with equally important talent needs; according to a Forbes report, 90% of leaders are experimenting with skills-based techniques to meet both demands. 

How do talent marketplaces add value to organisations?

The first key difference among a talent marketplace and other HR tools is its fundamental design principle. While many HR tools were designed to save money, talent marketplaces create direct value through their transformative nature. A talent marketplace can both power an organisation's investment in future skill development while also assisting leaders in making more informed decisions based on real-time skill information that would otherwise be impossible to leverage.

Talent Boosters and value creators

Though it also contributes to the mindset shift that businesses must make, one of the key differences between talent marketplaces as well as other pieces of HR tech is their utility: it's an offensive play. Whereas many HR tools have been used to improve the efficiency of existing systems, talent marketplaces can add value by expediting project staffing, lowering external hiring costs, and enabling greater L&D efforts.

The workforce data generated by talent marketplaces and workforce intelligence that power many platforms is more than just information. Data organised in a centralised platform allows talent leaders to craft more savvy talent strategies based on their organisation's skill needs as well as how they compare to their industry as a whole. 

Creating organisational value by changing company mindsets

Just as important as carrying out a talent marketplace is gaining institutional buy-in for the system, which is frequently the root cause of delays in realising the value of a talent marketplace. If hesitation among managers and leaders is allowed to spread, it can slow adoption rates, so creating positive momentum for the talent marketplace necessitates a targeted platform rollout to bring proof to the rest of the organisation.

Encourage Entrepreneurship and promotes innovation

Talent marketplaces can also encourage industry innovation. They can facilitate the exchange of ideas and best practices by connecting freelancers and businesses from various parts of the world and different areas of expertise. This can lead to new approaches and innovations. Entrepreneurship can also be encouraged by talent marketplaces. It can help freelancers establish themselves as independent entrepreneurs as well as take control of their careers by providing a platform for them to showcase their skills and build their reputation.

Some tips for increasing company-wide talent marketplace support

Every organisation will face a unique set of challenges as it navigates the talent marketplace.  However, gaining support from stakeholders is critical to avoiding unnecessary delays in realising its value. 

Determine the platform's goal

Clarifying the scope of implementation can help clear up any initial confusion and help workers realise how their efforts will be rewarded, incentivizing adoption even further. Talent marketplaces are naturally employee-centric platforms, allowing employees to develop the skills they value while also adding value to their organisation.

Discuss the value of talent marketplace

Aside from project and opportunity connections, talent marketplaces give employees more control over their career advancements and talent leaders better insight into the skills distributed throughout the organisation. 

During the pilot programme, analyse and modify in real time.

Talent leaders can see what's working and where improvements can be made by focusing efforts on a monitored, receptive sector of the business before rolling out the platform to the entire organisation. 

Understand your CEO's mindset

Balance your talent marketplace's messaging between the value it brings to employees and the value it brings to the company as a whole, just as a CEO must. Know what your CEO is prioritising in terms of future skills and business, and explain the ways the talent marketplace addresses both.

About FlexC

FlexC is a top talent recruitment agency and freelance website based in US that was founded to connect the best talent with global markets. FlexC is dedicated to providing a vibrant social environment for its founders, executives, passionate leaders, and recognised experts. Our platform's longevity, as well as the advanced AI technology that distinguishes us, are reflections of our dedication to excellence. We strive to be the best platform for managing hybrid workforces in the future of work, in addition to providing the best freelancer jobs in US.