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Are you leveraging your existing employees to fill jobs?
A talent marketplace can make hiring existing talent faster, less costly, and less risky while improving retention and engagement. It also allows workers to see opportunities for open roles, gigs, and projects, as well as mentors, career paths, and development opportunities; recruiters and hiring managers to post open opportunities; and leaders to see current skills and skill gaps within the organization.
However, successful implementation requires investments in technology, processes, and culture, as well as careful measurement to demonstrate the return on investment.
Insights were drawn from a three-part roundtable series with both talent leaders and include:
For employers: An internal talent marketplace has numerous benefits for hiring, retention, engagement, strategic workforce planning, and cost savings, including:
For workers: Talent marketplaces match workers with opportunities.
“The importance of fostering a company culture that values and invests in internal mobility cannot be overstated. Strong and ongoing support for internal mobility from leaders is essential for creating the cultural change needed for an internal talent marketplace to succeed,” said Robin Erickson, PhD, Vice President, Human Capital, The Conference Board. “Managers who hoard talent not only put their employees at a disadvantage, but the business overall.”
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