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Employers have struggled to attract talent for many years now. The traditional and often passive recruiting efforts of posting a job on a careers page or a job board may no longer be adequate. Instead of relying solely on outside talent, consider looking within. Consider a talent marketplace.  

Talent marketplaces are transparent, technology-enabled talent management systems that connect employees with developmental opportunities within your organization. These two-sided platforms capture employees’ skills with appropriate positions within the organization. You likely have experienced a marketplace like this when booking a vacation. You input your requirements into a travel website and get a list of potential flights, hotels, and car rentals. Talent marketplaces are similar, but employees see a list of possible jobs, and employers see a list of potential internal talent to fill those positions.  

Internal opportunities are among the top motivators for employee engagement and retention. Talent marketplaces allow high-performing employees who want to upskill or reskill to pursue career goals within your organization. Talent marketplaces match employees with internal opportunities where they can get relevant experience to gain new skills and expertise. 

Once you decide to move forward, you must carefully select a technology solution. Partner with your tech experts to research solutions online, request demos, and ask pointed questions to address your organization’s needs. Consider answering questions such as the following: 

Then, critically assess the vendor’s solution to ensure it effectively answers those questions.  

For talent marketplaces to be successful, ensure your culture aligns with continuous learning and development and a robust succession plan. HR professionals will play a key role, working with leadership to assess skill sets needed for open positions and linking training to specific skills required.  

Employers Council is here to help with all recruiting and retention goals. Consulting and Enterprise members can contact us at info@EmployersCouncil.org to speak with an HR consultant.