Developing Your Own Market For the Contingent Workforce
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Transcript of Developing Your Own Market For the Contingent Workforce
Developing your own marketplace for the contingent
workforce
We help companies build their own live talent workforce
• A cloud based technology & big data company
• World’s first live talent marketplace focused around available talent
• Offices based in Melbourne and Perth
• Large corporates build their own talent communities around specific skill sets
• Over 1M people in the main LiveHire Talent Community to date.
• Core market focused around skilled and technical workforce.
11.5 Million15%
1.7 Million
20%
FORECAST GROWTH
Next 6 yearsFor contingent labour
300 Million
7.5 Million40/apps/yr
17 jobs/9 companies
Source: BCG 2014 analysis and article - The Global Workforce Crisis: $10 Trillion at risk.
Australia will be nearly 2 Million workers short by 2030
Source: BCG 2014 analysis and article - The Global Workforce Crisis: $10 Trillion at risk.
Labour Shortages and surpluses are predicted worldwide
Key impacts of labour shortage
Wage Inflation Leaves vacancies open
Hampers economic growth
Impedes business formation and development
Threatens our country’s competitiveness
Skills leakage, Decreased Confidence, Inefficiency
So What? We’ll just get more contractors!
Efficient?
Common challenge within contingent workforce planning
• Visibility • Quality matching • Access to skills • Business stakeholder expectation management • Proactive & flexible workforce planning • Cost and requirement in using labour hire • Passive/reactive usage of labour forces
Ideal World
• Better/proactive workforce planning • Partnership with business and HR/Recruitment • Pre-vetted/qualified • Pre/self selected • Ready to go (i.e. available inventory) • Engaged and interested
Where technology plays it’s part!
• Let the crowd manage themselves • Build your own live marketplace • Visibility to available inventory • Create engagement instead of rejection • Map skills availability and labour mobility • Better search capabilities • Deep data and human capital analytics
What technologies and market places are available today?
People / Social Aggregation Casual/freelance staff Live talent marketplace
Create your own hub for aspiring talent, not just applicants.
90% 10%Join Talent Communities.Will join an expression of interest on a careers site
Building your own market place for talent with LiveHire
Live Talent Markets
Your Branded Live Talent Community
Alumni
Re-targeting
Website
Database cleanse
Referrals
Social
Campaign
Proactive talent channeling
Connected
Proactive talent channeling results in: • decreased time & cost to fill • reduced candidate management time
Why is having your own live market for talent important?
Live profiles Live asking rates Availability Skills matching
Demographic data Rostering preference
Mobility Engaged
= Increased efficiency and decreased cost to hire.
KNOW WHEN PEOPLE ARE ACTIVE
REAL TIME SALARY & AVAILABILITY INFO
AUTO-UPDATES & PARSE INTO YOUR
ATS
DATA & CONTENT RICH
LINKED TO GOOGLE
RESPONSIVENESS & ENGAGEMENT
UNIQUE TO LiveHire WEB RESUMES:
•Company employment brand reviews across 6 different measurements •Current and previous salary levels •Rostering preferences (contract/casual staff) • Exact availability and asking rate
Traditional CV’s are DEAD! Digitise your labour force
Data used to guide workforce planning strategy
SPECIALITY TOTAL ACTIVE PASSIVE WA VIC QLD NSW ACT SA TAS NT OTHER
Electrician 840 548 292 63 47 43 19 6 4 3 1 5
Carpenter 743 493 250 3 - - - - - - - 2
Concreter 313 227 86 91 56 77 49 - 13 10 2 14
Plasterer 85 64 21 24 9 9 6 - 2 - - 9
Skills Availability - Report March ’14
Please note: Figures represents those active in the market today. Market changes frequently and active candidates are currently 21% of total market.
Total active candidates in the market currently doubles every 3 months.
Confidential and not for distribution without prior written consent from Livehire.me
LIVE DATA
• Skills availability, mobility, price, transition, attitude and tenure • Live, real time and constantly updating • Used to guide human capital strategies and workforce planning • Used to win commercial work
Search & connect to talent also outside of your community.
Connect to interview just-in-time.
Wrapping it up
• Labour shortages are only going to get worse • Competition for skills will increase • Plan for tomorrow while building for today • Be proactive • Use technology • It’s all about available inventory & skills matching • Think digitised labour data