Why Every Business Needs to Launch a Talent Marketplace in 2022? Here are 4 reasons! 1

More and more companies are choosing to start Talent Marketplace (aka活水计划) now, and it’s clearly not a decision on a whim. With the global epidemic in 2022, each company is at the same crossroads regardless of the industry, region, or sector: HR needs to decide whether to remain stagnant or embrace a new mindset and emerging operating models to better match the needs of companies and their talents. 

Starting a Talent Marketplace with an existing talent management system may seem like a bold decision, however, more and more case studies and data show the tremendous value and reward a Talent Marketplace could bring to the company. 

Based on our long-term customers, many of them are showing more and more interest in the latest aTalent® Talent Marketplace. A global leading luxury hotel group (abbr. Company I) has now already started a new cooperation with us for the aTalent® Talent Marketplace, which will become a trendsetter for talent management in the luxury hotel industry.  

Wanna know how aTalent Talent Marketplace helped to build good talent ecology?Click here and find out!

The pandemic has brought several unprecedented changes to the daily working environment, and the Great Resignation that has turned the relationship between employees and employer’s upside down. The rapid renewal of each industry has correspondingly shortened the time for employees to learn the new skill, and the rise of hybrid work implies that HR need to reset the management style and hiring standards.  

Due to these big changes, businesses can’t always stay as the same. As an HR, you must need to keep up with the new talent management way and find the right tools to successfully bring these frameworks to reality.   

1. Capturing the most agile talent potential skills  

A joke saying that the best “role model “in 2022 should be the COVID-19 virus, no matter how complex and changing the social environment is, it never complains and keeps elevating itself silently. The same should be true for the talent management! 

Although most companies are willing to use Talent Marketplace in a fast and easy way, however, the efficiency of these medium-to-large scale companies is hindered by their own inside structure. Also, companies which lack basic talent management are incapable of using Talent Marketplace to follow up on the constantly changing environment of the market. 

aTalent® Talent Marketplace is designed by driving employees’ individual skills, capabilities, and personal growth willingness. By matching these within the company’s relevant opportunities, aTalent® Talent Marketplace can realize your employees’ potential sustainably. 

aTalent® Talent Marketplace is a platform with powerful AI technology that can streamline data and make efficient matching recommendations is a necessity for your talent marketplace to be successful.  

Company I as a global leading luxury hotel group, when their HR department needed to make a nation-wide talent transfer during COVID-19 to achieve business resilience, they started to use aTalent® Talent Marketplace to ensure their business needs.  

2. Increasing employee retention rates positively and sustainably 

We do believe every HR knows the Great Resignation is much more than a blip on the radar. It’s not just a turnover tsunami, it’s a turn in the tides for the future.  

After the rising resignation percentage in the first half of 2022, it’s clear why many organizations are struggling to keep profits and output levels high. When employees leave, companies need to quickly fill the corresponding vacancies, in addition to dealing with the overall business efficiency and professionalism stagnation caused by the knowledge and skills gap due to the continuous turnover of their talents.  

To retain and engage employees during the Great Resignation, as an HR you need to understand what is driving the Great Resignation. It’s not only just about higher salary or better benefits, but the lack of a great career path is also at the heart of today’s turnover crisis! In fact, a lack of growth opportunities is the second most common reason why employees quit. 

Therefore, internal Talent Mobility is particularly important in this aspect of retention. Not only hiring outside of your organization is 1.7 times more costly, but it also gives the wrong message to people who want to keep staying with your business. 

Instead of just telling your talent, why not show them directly? By deploying a Talent Marketplace, employees can clearly see their potential career progressions within the organization. It aligns individual employee ambitions with the internal needs of the company, and that’s what a truly visionary HR manager would think about!  

3. Changing the employment relationship by Talent Marketplace 

After knowing about the cooperation of agile organizations like Company I, more and more HR in China are learning about Talent Marketplace through aTalent and trying to use this marvelous tool to empower their talent management.  

Deloitte’s latest research shows that the Talent Marketplace is one of the platforms that can bring huge success to companies in a period of rapid expansion and flexible employment. Gartner even listed launching a Talent Marketplace as one of the 3 key focus areas HR should drive their company’s values in 2022. 

Referring to the suggestions above, Talent Marketplace is rapidly gaining HR’s attention. However, too many companies and organizations would rather be leaving Talent Marketplace on their future roadmaps, instead of taking advantage of it today.  

But in the nowadays ever-changing business market, no one wins by playing the safe card! The future won’t belong to those companies that decided to wait and see, but to those that would like to embrace changes and forge new paths! 

4. Talent Marketplace will reshape your HR management mindset 

aTalent® Talent Marketplace is different from the traditional talent management platforms that HR has relied on that maintains stability and have some predictability. In contrast, aTalent® Talent Marketplace is a platform for today’s era of change. It was not designed for management, but to continually unlock existing but unexploited inner resources and to maximize the utilization of talent within an organization.  

Now, as an HR, you still have a very short time to start Talent Marketplace, and the choices you make today will determine whether this is a missed opportunity or a transformational moment for your business!  

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