How digital Talent platforms are paving the way for the future of work

How digital Talent platforms are paving the way for the future of work

The Era Of Agility

Picture this: it’s 2020 and you’re a company executive with a staff of about 200 employees. Out of nowhere in early March, a global pandemic sweeps in and that number is suddenly cut in half. You have the same goals and client needs, but with half the labor as before

Now, multiply this problem by the millions of other businesses that were left in similar situations, needing to quickly cut staff while still operating and attempting to meet market demands. Within days, the world had a massive talent problem on its hands.

Earlier this year, the International Labour Organization found that reduced working hours and unemployment affected 114 million people. The report goes on to state that this massive wave of unemployment and underemployment resulted in a loss of working hours approximately four times as high as during the financial crisis in 2009, forcing companies to completely rethink the way they utilize talent with an already limited budget and the same consumer demands to meet. 

Without the options of full-time and part-time talent readily available, employers had to look to the one resource that was available and growing: freelancers

With few options within their small, full-time teams and unfilled positions, executives needed to look outside their core, which brings us to the other half of the equation: the employee

Digital Talent Platforms Are Paving The Way 

For months, employers have been at an impasse. Realizing that full-time work was losing its luster for workers, and in desperate need of affordable, agile talent, these business leaders turned to the simplest option: recognizing the value the growing freelance economy could add to their organization. 

Business owners often face two main issues when it comes to hiring freelance support: finding the right people and onboarding them properly. With the demand for talent rising and freelancers becoming increasingly favorable in the eyes of the corporate world, digital talent platforms became a much larger player in the talent game. In a 2020 Harvard study of 700 senior business leaders in the U.S., 60% expect to “rent,” “borrow” or “share” talent with other companies in the near future. 

As the use of these platforms increases even into today, the freelance workforce will continue to grow and meet the demand in the coming years, with Statista predicting that 79.6 million workers will be freelancing by 2025. Blended teams made of full-time staff and freelancers will be the key to agility and maintaining a competitive edge as we move into a digital era, securing digital talent platforms as a key player in the hiring game for years to come.