The last major shift in technology that altered how staffing companies did business was the emergence of vendor-managed services (VMS) and their solutions approximately 20 years ago. And with all good evolutions, technology tends to move quicker in order to provide time savings and revenue increases. The latest in HR tech that should have staffing firms turn their heads, is the platform technology of talent marketplaces — not just the buzzword “AI”. Modern talent marketplaces, such as SkillGigs, can help staffing companies avoid the black hole of applicant tracking systems, talent pipeline management, and the ability to gather top-skilled talent 24/7. And those are just the start. It’s important to define the strengths that are brought together in a true working partnership.
What a talent marketplace brings to the table:
- Simplification of a multi-step process: When considering a platform, the major benefit a company will immediately receive is the ability to do just about everything critical in one place. With the SkillGigs talent marketplace, you can promote jobs, search and match with talent, recruit candidates to live in the marketplace in real-time, and process candidates using our patented 3D Resume. There are certainly other tools available that will use terms like AI search, but at the end of the day, you are simply combing a once home-grown staffing book of business and it then stops there. There are platforms and then there are platform-like solutions.
- Manage those margins: The SkillGigs platform provides reassurance that your recruiters are also maintaining margins through our unique bidding system with customizable margin algorithms providing transparency and data throughout. In our partnership, you can define what is needed without sacrificing business.
- Make more money: A talent marketplace can help staffing companies make more revenue because they can fill jobs faster. The days of relying on an applicant tracking system (ATS) are done. And those days need to end because they have become nothing more than a repository to feed a black hole. The fill rate potential using a platform is so rapid that it will quickly outpace using your own hybrid systems and manual processes. [More details on that in a recent blog post around surviving and thriving in staffing.]
What a staffing agency brings in return:
- Client connections: Staffing agencies have worked hard on building relationships with employers. There is a trust factor that in many markets is unbreakable. But SkillGigs doesn’t want to break but embrace those relationships as it becomes a win-win-win scenario for all (us, you, employer, talent). And the best part is that those relationships will only continue to solidify the more that the open areas are filled. It has been reported that “67 percent of hiring managers believe it is very or extremely important their staffing firms use up-to-date technology,” and we certainly want to keep your customers happy.
- Local market penetration: Staffing agencies grew because of the geolocation nature of the branch network. They set up “shops” and become the workforce solution experts for any given location. There is power in combining that knowledge with a tool that can unhinge the growth potential.
- Legacy knowledge: The staffing agencies, who know how to pivot in various economic times and leverage the evolution of technology, have a grit to them that is unbeatable. This entrepreneurial motivation propels them into new areas that will continue to help their business grow. And the more seasoned these agencies are, the more opportunity there is in front of them. In other words, these agencies have experience in surviving, growing, and being cutting-edge.
Overall, the partnership between a staffing agency and a talent platform can create a symbiotic relationship, benefiting both parties by optimizing the recruitment process, improving candidate placements, and increasing the agency’s competitiveness in the job market. In a partnership that typically begins around the access to candidates, a staffing agency will be quick to adapt to how a talent marketplace’s database and technology can help to access not just a specific candidate but the potential for candidates at scale. Access to a larger talent pool that is continually added to, like SkillGigs’, is then backed with AI matching algorithms. Strong partnerships are also built on transparency and communication. The enhanced visibility provides the agency with a true temperature check of the job market. Together, these partnerships can support a more streamlined recruitment process for all involved.
Let’s face it. The new way of recruiting and managing talent just got a whole lot easier for staffing companies. If you are ready to explore a partnership, contact us to set up a customized demo for your needs.