Talent as a Service

Talent as a Service - The Latest Talent Acquisition Model

As a business operating in today's increasingly connected and competitive market, you are more than likely facing the unique challenges of talent acquisition at a time when sourcing talent is changing and developing into a more complicated process than ever before.

Two of the most important shifts that we experience today are:

  1. The virtualization of the workforce which came alongside the technological developments of the last decade: high-speed internet, mobility, online collaboration, and social media tools. (Remember the days when working a day or two from home was almost impossible?)
  2. Concurrent workplace and talent lifestyle changes; increasing reliance on contractors, and talent seeking flexible work environments. An October 2010 Intuit report suggests that by 2020 there will be a 20-40% increase in the amount of contract work [1]. (How many of you work around contractors or temps today vs. 5 years ago?)

Yet acquiring talent in itself doesn't pose a challenge. The challenge arises within the constraints when talent is needed. For example, anyone with unlimited time, money, and networking capabilities should be able to acquire the right talent. But most companies have limited resources and find themselves in critical situations when they need someone immediately and/or with a niche talent for an operation. Read on to learn about a new development in talent acquisition that will give your business the transformative edge to compete in today's markets.

Talent as a Service - What is it?

The latest development in talent acquisition is known as Talent as a Service (TaaS). TaaS is a new labour model in talent acquisition, allowing businesses to access high quality, on-demand talent and expertise on an as-needed basis, through cloud-based platforms (some refer to it as a direct-to-contractor model). Simply put, it is the "Uber-ification" of Talents.

While today we're mostly familiar with Software, Platform, Infrastructure or Data as a Service (SaaS, PaaS, IaaS, DaaS...etc.), we're less familiar with Talents as a Service, managing the Talents needed to efficiently run all of these XaaS platforms. TaaS specifically targets the needs of businesses regarding this talent acquisition. Importantly, it disrupts traditional understandings of the workforce by modeling the gig economy, introducing a unique approach to crowdsourcing. Essentially, a TaaS model primarily allows companies to instantly and efficiently find those most suited for critical projects, and at the same time not ruling out finding specialized full-time employees (FTE).

What Can Talent as a Service Make Possible for You?

Let's start at what really happens when you don't find the "Talent" on time and on budget. Projects are delayed, put on hold, postponed, or even skipped altogether. The impact is a possible loss of revenue or competitiveness, higher workforce dissatisfaction and resentment, feeling of helplessness ("It is what it is, and we can't do much about it"), and/or dependence on third party recruiters.

Besides being the latest trend in talent acquisition, TaaS opens many new possibilities for business decision-makers looking to remain competitive in the changing world of work and enjoy benefits in all aspects of life. Consider the possibilities if you could hire immediately and on-demand? What if you could predetermine a talent's specialization, availability, and affordability in seconds, as well as the talent's expertise as rated by your business peers? TaaS provides the opportunity to hire for "gigs" or contracts significantly easier by making it simple to find, source, and hire high-quality talent for specific tasks.

Also consider how your business could benefit if you added newer unconventional hiring models to your current conventional ones. A 40 hour per week, 6-month contract would be an example of a conventional model. A 20 hour per week, 6-month contract is less common. Now, where would you go today to hire talent for 10 hours per week for a year (e.g. DBA work)? 5 hours per week for only two months (e.g. an Advisor on Enterprise Architecture)? 50 hours for an undetermined length (e.g. an Advisor on Transformation to Cloud project)? or 40 hours sporadically (e.g. a Quality Assurance talent to oversee your System Integrator's delivery)? TaaS offers talent on-demand, providing opportunities to increase efficiencies, cut costs, and fulfill projects faster.

Furthermore, consider how TaaS offers a unique direct-to-contract opportunity. A more efficient communication becomes possible. Not only can "the needs expert" and "the product expert" communicate without introducing a third party who may distort the message, but also a direct negotiation eliminates the middleman margins, and expedites the agreement regarding the work-logistics. With this kind of flexibility and cost-reduction, the attention and resources that are reserved for talent acquisition can be redistributed to areas that are often neglected, so you can focus on the innovative and big picture changes that will project your business to new heights.

Taking Advantage of Talent as a Service

TaaS as a cloud-based model instantly broadens your access to talent, from local-only access to regional or global reach that is available 24*7. This access is increasingly important at a time when brick and mortar companies are relatively limited and bound to become obsolete. The TaaS pool creates flexibility in terms of when and where people work and collaborate on projects. Talent can work on-site or remotely; you can even start them remotely while in transit before they arrive on-site, removing the constraints of time and space. TaaS allows you access high performers who are "400 percent more productive than average ones,"[2] giving you an ROI that can make anything possible. Finally, TaaS models also benefit professionals who are looking to work flexibly, which likely reflects positively on attitude and productivity on the job.

[1] https://hrtimesblog.com/2014/12/03/rethinking-talent-management

[2] https://www.mckinsey.com/business-functions/organization/our-insights/attracting-and-retaining-the-right-talent

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