by Dr Dorel Iosif,
Board Director, Cognisium
Managing Partner, Lavaux Global
The competition for talent is changing at a speed that we have not predicted. If you are a small or medium enterprise (SME), the traditional way of attracting talent was that you hired the best applicant who responded to your ad. Usually that worked well for you as the employee market was segmented by sector or subsector while the talent demographics was such that you would find the best talent in your sector, conveniently located where your business was located be that in Houston, Aberdeen, Perth or London. But as technology requirements are changing, the employee market landscape is changing too. Ed Glaeser’s research from Harvard shows that highly skilled technology talent lives in specific cities and countries.
So how do you access new talent pools to address new and emerging technology, operational or strategic challenges?
Introducing the on-demand marketplaces. Let’s start with the value proposition offering.
Prof. Joe Fuller from Harvard Business School (HBS) who heads up the “Future of Work” project says: “.. innovation at a big company is going to have to take place where you source talent, how you structure processes, so you can get the right talent, at the right place, at the right time, irrespective of employment status.“
These on-demand talent platforms fall mainly under three types:
1) Marketplaces for premium talent – such as Cognisium, Toptal, Comatch, Catalant,
2) Marketplaces for crowdsource innovation - such as Innocentive, Kaggle,
3) Marketplaces for digital talent – such as Fiverr, Upwork, 99designs.
The on-demand experts from these platforms also come with an added benefit: they challenge your status quo, stretch your world view, bring new thinking, insights and possibilities and force you to re-assess institutionalised thinking and dominant logic.
The Drivers for On-Demand Marketplaces
Whether you are an engineering company or a biotech business, you compete for technology talent with JP Morgan Chase, Salesforce, Procter & Gamble, Google, Adobe, and the list goes on. In other words, the fuzzy boundaries between sectors, sub-sectors and industries are gone as the diffusion of various digital technologies into virtually every industry has almost reached a saturation point. Moreover, the talent you need may be located in Tel Aviv, Bangalore, Berlin, Sydney or in Silicon Valley and so, you realise that the be