According to a survey done by Deloitte in 2022, more than 50% of Indians now have a side hustle. Remote work is becoming the new norm, work hours are becoming more flexible, and a goldmine of creative talent is waiting to be mobilized. These dynamic times have given rise to the concept of the ‘Open Talent Market.’ Here are some reasons this could be a real gravy train for your organization.
Do or die.
Organizations, like all ecosystems, either evolve or face extinction. This means being able to anticipate change and fortify against the growing needs of dynamic markets. Roles are either becoming redundant or being replaced by AI and smart technology. A Sloan Review survey found that 87% of managers globally include some external workers when accounting for their workforce composition. Being able to evolve is imperative. A truly resilient organization would lean heavily on a large and agile talent base to account for new work requirements and effectively transition out of roles that are no longer relevant.
An all-you-can-eat buffet of quality.
Freelancers, ghostwriters, consultants, etc. The easter eggs that have been creating versatile work and coloring the talent infrastructure of organizations from the outside. An organization’s investment in its people can directly result in better business outcomes. However, finding the perfect employees who are perfectly adept, perfectly motivated, and perfectly carry the vision of a brand is every recruiter’s worst nightmare. With an open talent culture, you would be sourcing from highly specialized talent who have spent years honing their craft. Being highly adaptable, having a hustle mindset, and constantly refining themselves against the trends of the times make for the perfect cocktail of quality.
Learn and unlearn.
Drawing from a large mine of talent allows for excellent quality in your output. However, this does not just have to affect your clients, it could also affect the in-house pedigree. There is now untethered access to experts and seasoned veterans from across industries, as well as bright-eyed college graduates with a futuristic vision. This would mean a Mecca for up-skilling, mutual mentorship, and cross-organizational collaboration. You can now funnel great growth into your internal teams by rubbing shoulders with the best in the field, at a fraction of the price of a permanent retainer.
Agility protects from fragility.
There has been a rise in organizations experimenting with turning customers into their employees. A virtual workforce. What if we harnessed the free time of homemakers, stay-at-home dads, and even the house help? The pandemic has taught us that sometimes what truly drives productivity, is being able to whip up a mug of coffee in your pajamas as you log into work from your kitchen table. A flexible labor supply chain makes a flexible organization that can counter any adversity thrown at it, be it a global pandemic or the printer breaking down for the third time in a day.
The Culture of Now.
Having access to a wide and varied pool of employees means one thing for sure- the culture of now. Creative talent as a group in general has always offered up counter-culture ideas to society. Creative minds are intrinsically curious minds and when they come together from across the board, there is sure to be a culture of inclusion and broad-minded thinking. There is room to evolve from traditional thinking as your organization re-configures to meet the challenges of a post-pandemic, digital world. An open talent culture could drive globalization from the bottom up.
An Unlimited Workforce.
Becoming a corporate superpower in a digital age means moving away from traditional, transactional relationships. A talent network that can echo the quality and vision of a brand could have resounding effects throughout the industry. The talent economy is already rising. An archive of established talents and fresher resources would bolster your organization against the harshest demands of the changing times.
The Open Talent Culture is a portal to creating a fluid and robust work culture at your organization. Diversifying your talent and securing your brand as a leader in cross-organizational collaboration is one of the finest ways to establish yourself in the coming years. Soon is not soon enough to transition your organization into the future of an open talent economy. The only question that remains is, are you going to be a bystander of the new-age workplace evolution or a propagator?
