The gig economy was growing before COVID-19, but the pandemic caused a surge in workers signing up for on-demand talent (ODT) platforms. As recruiters struggle to compete, the use of ODT platforms is growing. So, employers must create a strategy to engage, recruit and hire these same gig workers for short-term positions. This is the key to bridging the gap between vacancy and hire.
Many companies don’t consider on-demand talent in their recruitment strategy as they focus their efforts on hiring full-time workers. This may be one of the reasons why a skilled, experienced and capable worker may look elsewhere for employment. While there are a myriad of reasons as to why ODT platforms attract gig workers, making them part of your recruitment strategy is key to surviving another year of talent shortages.
Gig workers, like their full-time counterparts, are in demand, which makes recruiting in this fluid workforce challenging. Many ODT platforms offer flexibility and immediacy in hours, compensation and communication that even the largest of employers fail to provide. So, for most companies, these platforms allow them to find top-tier talent for hard-to-fill positions. For highly skilled workers, these platforms allow them a way to stay productive in the workforce while managing a work-life balance.
Creating a Hybrid Workforce With On-Demand Talent
Engaging on-demand talent isn’t about replacing your traditional workforce. Some jobs are better suited for full-time employees, and you’ll likely want to keep them in those roles. Instead, it’s about creating a hybrid workforce through a blend of traditional and on-demand talent. So, how can you work this into your current recruitment strategy?
Building the On-Demand Workforce, a report published by Harvard Business School and Boston Consulting Group (November 2020), reported that digital talent platforms grew from 80 to over 330 in 10 years. Also, nearly 90% of business leaders reported that talent platforms gave their organization’s future a highly competitive advantage. 40% of users stated that accessing skilled workers through ODT platforms drastically increased their speed to market, productivity and innovation.
The report also suggested that to build a blended workforce, employers will need to rethink their employee value proposition. They must adapt their EVP for each talent group and show employees how they benefit from these new talent platforms. Additionally, integrating contract and non-contract employees requires work completion to be defined by internal or external contributors.
This means adapting the way in which work is completed and rethinking how to blend contract talent with internal teams. ODT platforms can clear house to match highly skilled, capable and well-experienced people with companies that need their project work.
In Rethinking the On-Demand Workforce (Harvard Business Review, Nov-Dec 2020), the report states, “To engage strategically with talent platforms, companies need to develop a portfolio approach to skills. The first step is to understand which capabilities they have in-house, of course. Unilever uses the services of a company called Degreed, which allows employees to develop and certify their expertise in specific areas with so-called micro-credentials. The employees get recognition for their know-how and understand exactly which skills they need to acquire to advance; the company benefits because it can now identify which skills the organization already has and who possesses them.”
Along with gig workers using ODT platforms comes companies creating a contingent, flexible workforce and filling seasonal roles. Compare the cost of your recruiting/hiring for hourly positions to that of hiring candidates through ODT platforms. Talroo has solutions for gig economy hiring with recruitment intelligence and comparative data. Let us help you determine if hiring on demand is the best fit for your company!