Talent Marketplace– Organizations nowadays are becoming employee-centric. Employees are asked to or assigned projects that pertain to their skills and abilities and what they are best at. To put it in other words, jobs are designed around people now and not vice versa. They are an ever-increasing emphasis on developing training and development strategies in organizations. When such a strategy is developed and put in place, it is then called a talent marketplace. The purpose is to align people skills and extensive knowledge with the task at hand.
American Express and IBM are two very good examples of organizations that implement a talent marketplace strategy. The most productive employees are allowed to choose projects and assignments that are most suitable to their area of expertise.
Not many companies like the ones above mentioned are able to harness people skills in an effective way. Organizations in the name of talent management pay far more attention to searching for and recruiting people from outside. Little emphasis is laid on locating talent within. Even the work experience for such people is not enriching which helps them to feed and develop their expertise. This is in fact how most organizations lose talent to rival organizations.
