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13 reasons why on-demand talent is essential to swiftly deal with the new economic model

The business world as we knew it has faded away. Nowadays, companies should learn to function within the new work field and change their business practices and culture so as to fit the musts of the hybrid era. Get to know the reasons why on-demand work is a building block in the ladder of success of the new economic model.

January 10, 2023

The business world as we knew it has faded away, and those companies that underestimate the paradigm shift and deny the new rules of the work scene won’t be competitive in the future economy. It’s essential that companies learn to function within the new work field and change their business practices and culture so as to fit the musts of the hybrid era. Today, agility and flexibility are the top attributes for a company to survive. One of the main aspects of the business model of the future is the evolution of talent management. It should be open, collaborative and based on the Open Talent Economy principles. 

Shifting to an open-talent mindset is imperative, so as to accompany a work environment in which skills arise and change dramatically. In order to succeed in today's world, the classic team structure should be replaced by an ecosystem focus, and new ways of working should be the norm. 

More than ever, companies should count with extra talent with specific skills to carry out short- and long-term actions. This talent, in most cases, is one that can't be part of the company’s structure. 

Besides, companies are facing two great issues: they cannot retain the talent they need, and they cannot ensure the loyalty of their current talent. Each day, the gap between talent demand and professionals willing to satisfy this demand gets bigger and bigger. 

(Fact: 30% of Fortune 500 companies hire on-demand talent platforms)

In this context, the race to get talent has never been so fierce. The first step to transform businesses is incorporating on-demand talent and building diverse, flexible and dynamic teams. These are the 13 reasons why: 

1) Talent is demanding more and more flexibility. They want to decide when, how and where they will work from. Work should fit our lives, and not the other way round.

40% of the workforce plans to quit their jobs if they should be back to the office                                                                                                   *Microsoft Report

2) The skill-based open talent model allows companies to innovate and solve problems as they need. On-demand talent hiring via platforms is an efficient way to cover critical or unexpected needs, in record time and with a lower cost. 

3) Independent talent is the key to scaling up. Scalability potential is strictly related with the possibility of counting with an unlimited workforce, without the constant need of incorporating new resources. In order to be successful, it’s essential to be ready to shrink or expand working teams, to count with specialists at any time, and to optimize leaders’ time. 

‍4) The on-demand model is an opportunity to win the best talent of the industry, either locally or globally. Those companies that include flexibility as a value proposal are more likely to get access to workers globally. This way, companies can attract and pay for experts that would never work as employees or that companies simply would not have been able to afford.

Being associated with platforms like Seeds gives broader access to high-qualified talent, and links companies with a community of validated professionals, of different hubs, profiles, and seniority. 

5) The main focus of future companies is flexibility, the ability of shrinking or expanding when needed, of being agile when incorporating resources and skills, and of building teams efficiently. Nowadays, companies don't need to count with their resources and assets all the time. We are going through a technological and cultural transformation process, in which needs, opportunities and challenges are constantly updated. 

6) On-demand work provides agility to companies. One of the keys to immediately solve talent shortage is to optimize the recruiting process. For this non-stop economy, there’s too much time spent on selection, interviewing, assessing, recruiting and hiring. The new work scene requires agile onboarding models. Problems must be solved when they demand so. One month later is too late. Onboarding on-demand qualified talent saves time and paperwork, and allows us to work as fast as the business demands.‍

21% of the surveyed people quit their jobs due to lack of time and place flexibility. *Microsoft Report 2022

7) The open talent model implies saving money when hiring. Traditional consulting firms’ fees are higher than platforms’ commissions. Hiring these firms does not imply an official agreement with the person but with the platform. Therefore, they do not pay for social security contributions, indemnities, and bonuses.

‍8) Talent platforms like Seeds centralize administrative functions, and they are in charge of paying talent's fees, signing off contracts and handling red tape.

9) Organizational models based on diverse teams make their partners perform better, be more productive, and also ensure business profitability. On demand talent is usually more independent and more skilled as for decision-making, time management, and goal-focus. Project-based work implies less supervision time and more efficiency when meeting goals. 

10) Hiring on demand talent enables diversity and inclusion. This way, the team is exposed to different points of view, experiences, and cultures. DEI is an aspect that talent really values when taking into account a company’s offer. Diversity is key, especially for new generations. It should be one of the cornerstones of corporate culture, and implementing actual policies that promote diversity should not be only to pay lip service. 

11) Geographic borders blurred, and a new work scene unfolded. The range of work opportunities is now wider, and where you live is not relevant. Talent saw their possibilities to choose how and where to work from multiply, and, as a result, organizations are now facing difficulties to attract and retain the talent they need. 

‍According to Deel’s State of Global Hiring Report 2022, during the first semester of 2022, international hiring rates have increased by 145%. London, Toronto, and Buenos Aires are the three top cities with more remote and global workers.

‍Due to the great talent demand and candidates' shortage, companies are looking for talent in countries that not only cover vacancies with top experts, but also are very competitive cost-wise, either for their currency volatility or for their economic instability. 

‍12) On-demand models encourage working equity, since it gives women–who are often forced to pause their careers to have children–the chance to work with more flexibility and manage their own time.

‍13) Remote work has a positive effect on the environment: it reduces carbon dioxide emission due to less commuting, it reduces paper, energy and plastic use, it improves air quality and has a positive impact on communities.  

To sum up, HR has a great challenge ahead, and must pivot to recruit the best talent. Not only they should bear the burden of leading and ensuring adaptability to this new economic scene, but they should also change the rules so as to attract their followers. More than ever, today HR should join forces with all heads, so that talent strategies are aligned with the goals and needs of the business. HR has no limits, and the world is their battlefield. They are the ultimate main characters of a transformation in which old, seated rules no longer work. 

Join the work (r)evolution and access the best qualified and on-demand talent of Latin America by clicking here.

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