The future of labour: ‘The Talent Stock Exchange’
Published on 13-07-2015
I wrote this back in 2012 as a manifest for #trueurope in Brussels. At that time we were in our infancy building CompanyMatch. I am happy to see that we are on track helping out companies to attract and match talent based on cultural fit.
The labour market’s landscape is changing at a fast pace.
‘We observe a strong urge among university and college graduates for personal freedom and the ability to engage in entrepreneurial activity on an independent basis. Ask ten higher educated starters or professionals how they perceive their future role in the labour market and expect over half of them to reply that they are aiming to work independently at some point in time in their professional life. Personally, I am convinced that within the next five years, this landscape will depict a fundamental shift from ‘work agreements’ to ‘talent contracts’. Within ten years there will be a new world in which every individual is marketing his or her own talents and skills either independently or through an organized format.’
Talent contracts will be known for its flexible attitude towards duration, be it extremely short-term (hours, days, weeks) or longer term (months, years). It will be directly connected to the talent and knowledge that needs to be delivered on, scarcity of talent and skill determine the tariff and the talent-contractor carries the risk. Nothing I’ve mentioned so far is new in any way, apart from the fact that it’ll become standard practice.
Talent Stock Exchange©
I firmly belief in action-reaction. Following the above train of thoughts I foresee a movement in which talent groups unite in order to market themselves to employers in an organized manner. Is this the birth of the Talent Stock Exchange? The reversed business model of the major current temporary work agencies, where talent unifies and markets itself. Employers can in turn perhaps also take part in this Talent Stock Exchange.
No matter how you put it, this is an interesting question because the role of the employer brand (as an integral part of brand-management) will only increase in importance. The labour market will be ruled more obviously by the principles of demand and supply due to the pressures of an ageing labour market and an increased degree of flexibility.
Who shall access my talent?
The above mentioned matter is merely functional, and oriented on recruiting talent. An at least equally important fundament of making decisions in terms of employment is determined by the employee: who would you give access to your skills and talent. Research amongst over 5.500 Dutch higher educated (Employer Brand Monitor) has shown that the decision of accepting a task or employer is more and more based on the match between the personal brand and the employer brand. In other words: whom do I want to give access to my talent? Values, norms, culture and archetypes are key in determining the match between the personal DNA and the Employer Brand DNA. I am happy to be able to justify this with the following research (June 2015). We conducted a survey amongst CompanyMatch users. We found that >90% will use their personal CompanyMatch when applying for a job.
Want to join CompanyMatch?
Join now and allow users to experience your Employer Brand interactively with CompanyMatch. It works simple, the registration is for free and you can directly discover the many possibilities to match the best candidates with your organization. The CompanyMatch widget is easily integrated into your career site, individual job vacancies or as a tab on your facebook page and candidates can start matching directly with your company.
At CompanyMatch we strongly belief that employees are at their best, happiest and most productive when working for a company that best matches their personal values. CompanyMatch identifies and characterizes employers based on their corporate culture. In the Netherlands, Belgium and Germany, CompanyMatch is already actively matching job seekers with great employers. Furthermore, candidates can discover interesting employers, learn more about themselves and attach their personal match to their application. At this moment, CompanyMatch is working together with over 250 companies including, amongst others, Rabobank Netherlands, Deloitte, Randstad Netherlands, Carglass, Henkel, KPMG, Lidl, ASML and Philips and is available in Dutch, German, French and English.