Looking to hire top talent at your organization?

You’ve probably got a recruiter posting available positions on popular job boards, visiting career fairs, searching LinkedIn or scouring industry and trade groups to find qualified candidates.

But in your hiring efforts, you may be overlooking a highly valuable group of people: your own employees. After all, your best candidates are often the people you already have invested significantly in.

As part of any well-rounded, comprehensive hiring strategy, you need an internal talent marketplace.

What is an internal talent marketplace?

An internal talent marketplace is a vehicle for employees to find a range of opportunities within their current company. Most commonly, these opportunities focus on:

• Brand-new or open jobs.
• Projects in need of team members to support them.
• Short-term needs for certain skill sets.

An internal talent marketplace could be as simple as a digital job board to as complex as an artificial intelligence- (AI-) enabled platform that matches employees with available opportunities based on their skill set and career goals.

Usually, an internal talent marketplace lives on a company Intranet or an employee portal, so it is visible and accessible to current employees only.

And, as we’ll discuss, implementing an internal talent marketplace is win-win for employers and employees alike.

9 benefits of internal talent marketplaces

1. Save time and money

Hiring externally consumes a lot of your resources – both people and financial. Plus, the entire process, from job posting to application review, candidate selection, interviewing and hiring can be a lengthy, months-long endeavor. Once hired, new employees must be onboarded, introduced to the company culture and trained in their role. And there’s always the risk that a new hire won’t work out and you have to start all over again.

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