What is a Talent Marketplace and What are the Benefits?
Introducing talent marketplaces into the playing field.
The temporary staffing industry is facing new competition from the emergence of digital talent marketplaces, which are online platforms that connect freelancers and contractors with potential employers. Examples of current well-known marketplaces are Shiftkey, Nomad Health, or 99Designs to name a few.
The concept is fairly simple: Workers looking for a job create an account and submit onboarding materials. They can then browse thousands of open jobs, as the term marketplace suggests, and apply to work.
Similarly, companies looking to hire create an account on the platform and can manage their shift schedules and view workers who are assigned to their jobs.
These marketplaces are becoming increasingly popular, especially as more and more people choose to work on a freelance or contract basis. In this blog, we will explore the reasons behind the rise of talent marketplaces and how staffing companies can respond.
The Benefits of Talent Marketplaces
Talent marketplaces offer several benefits to both employers and job seekers.
For employers, they provide access to a wider pool of talent, although they might not be able to provide the best fit for a highly specialized role compared to traditional staffing. For example, employers might be able to find a candidate with experience in Marketing, but it could be difficult to find someone who specializes in Paid B2B Advertising and SEO without actively recruiting like traditional staffing methods.
They also offer greater flexibility and scalability, allowing employers to hire talent on a per shift or project-by-project basis, rather than committing to long-term contracts or employment.
For job seekers, talent marketplaces offer greater autonomy and control over their work. They can choose the projects or shifts they work based on their schedule, set their own rates, and build their own client base. This can provide greater job satisfaction and work-life balance, as well as the potential for higher earnings.
So, Staffing Companies, What Now?
Talent marketplaces are disrupting the staffing industry by offering an alternative to traditional staffing solutions. They’re attracting highly skilled professionals who may not be available through traditional staffing channels, and they are providing greater flexibility and scalability to employers.
So, how can temporary staffing companies adapt?
One solution is to create their own talent marketplace. This will not only will help give you a competitive advantage in the industry, but it will help your company scale and save money over time. If this sounds daunting, we break down the best approach in our next blog.
