What is a Talent Marketplace? Exploring its Benefits for Recruiters
In the fast-paced corporate world, recruiters seek innovative solutions to attract and retain top talent. To align people’s skills with the task at hand, strategies such as a talent marketplace can be pretty helpful.
In this blog post, we will see how a talent marketplace can bridge skill gaps and explore its key benefits.
What is a talent marketplace platform?
As a digital platform or system, talent marketplaces can be characterized as tools to connect recruiters with skilled professionals. This helps in amplifying the internal talent pool and streamlining the talent acquisition process.
Two very good examples of organisations that implement talent marketplace strategies are American Express and IBM. Employees with the highest productivity can select projects and assignments most suitable for their expertise.
5 Key Benefits of Implementing a Talent Marketplace.
1. Building an Agile and accountable workforce
The importance of finding and attracting qualified employees has become increasingly important over the past few years, according to LinkedIn. 85% of organizations surveyed by Deloitte view agility as a key factor in achieving business success.
Talent platforms can save time for recruiters when they are looking to close open job positions quickly. This is useful when there is an urgent business requirement that needs to be prioritized.
Thus a talent marketplace can help recruiters build Agile teams by quickly assembling the right skills. This also makes it easier for recruiters to track project progress and monitor the performance of employees.
2. Attracting top talent
Employers who actively manage their employer brand are more likely to attract job seekers, according to a Glassdoor survey. With a talent marketplace, recruiters can highlight their unique work culture and employer brand to attract top talent.
With a talent marketplace, you enable employees to explore different roles and projects within the organization, cultivating a culture of continuous learning.
This also helps employees understand the organization's commitment to investing in the growth and development of employees.
3. Reinforcing diversity and inclusion
A talent marketplace can help HR to reinforce diversity and inclusion efforts within an organization. By using AI-based talent management strategies, bias can be eliminated from the organization.
A great example of this is Spotify, the renowned music streaming platform, that has developed its talent marketplace called Echo to help individuals access growth opportunities - “Internal Talent Marketplaces drive Diversity, Inclusion and Belonging”
4. Engaging and retaining employees
Internal Mobility is one of the top reasons why employees stay motivated on the job. A job marketplace can help recruiters offer internal mobility opportunities to skilled employees.
When employees can access a talent marketplace, they can leverage their existing skills for suitable jobs. Also, with the help of such provisions developing new skills can be easier for employees.
5. Upskilling and reskilling your employees
Achievers conducted a survey that revealed that 66% of employees would prefer to stay with an organization if they had opportunities to learn and grow.
Talent marketplaces can help retain employees by providing upskilling and reskilling training opportunities.
This can boost the performance of employees and allow them to complete skilled jobs and also get adapted to changing technology needs in this competitive space.
In conclusion, a talent marketplace platform is an excellent platform for recruiters to bridge skill gaps. It will also help you enhance your talent pool.
A talent marketplace can help you build an agile workforce by connecting recruiters with skilled professionals. The benefits it offers are also a great way for employees to enhance their skills.
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