Talent solutions are technologies that can support businesses in hiring, managing, and supporting their workforce. Over recent years, most companies have transitioned to a workforce that includes freelancers and agency workers, as well as full and part time employees. That means a strong talent strategy needs to have technology that caters towards non-traditional workers, too.
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To help you understand what you’re looking for in various talent solutions, this article will cover the main components you should expect, the benefits of talent solutions of all kinds, and the top names in the market so that you can identify the best fit.
Components of a Comprehensive Talent Solution
Talent solutions are all unique, but some of the main technologies that you can expect to see within this category include:
- Recruitment and hiring platforms: One of the biggest challenges in talent management is hiring itself. Talent solutions will often include recruitment platforms where you can search for top skills and experience, and even read CVs, interview, and vet potential candidates.
- Employee onboarding and training programs: How will you make sure both employees and freelancers are onboarded compliantly, and according to your business processes? Talent solutions often include automated workflows for system access, permissions, documentation and more.
- Talent analytics and assessment tools: How are your workforce shaping up? Reporting and analytics is an important facet of a data-driven company, and what company isn’t nowadays? Keeping track of milestones, delivery, and output is critical.
- Succession planning and leadership development: Which members of your workforce can take over other tasks, or become more senior in terms of projects and responsibilities? Talent solutions often provide the visibility to see exactly who you have under your roof, and help identify what’s next for them.
- Employee retention and engagement strategies: Once you’ve found great workers, you want to keep them around. Think about technology such as strong communication platforms and one-click payment processors, so that both full-time employees and freelancers feel transparency and that their work is valued.
Benefits of Implementing Talent Solutions
There are so many great reasons to put technology to work on sourcing, hiring, managing and paying your workforce!
The main benefit of talent solutions is that they save on the manual effort. Take sourcing for example. While previously, Procurement leaders may have spent hours or days searching through various channels to handpick talent, making sure they can compliantly work for the business and they have the right skills, today, talent solutions can take this off their hands. The right technology can provide pre-vetted candidates, known to be compliant, with expert references and the right expertise to hit the ground running. This removes the need to pay heavy markups to staffing agencies, and helps new talent start quickly and compliantly, with zero risk.
Talent solutions can also enhance worker development and growth. Instead of working with a freelancer once in a single department, and having no centralized way to manage that relationship, a talent solution can support your business in building something for the long term. You can build a talent pool of expert talent that you know works well with your business, and support freelancers in growing in knowledge and expertise of your specific industry. This also helps to improve the organizational culture, which becomes more cohesive.
Employee satisfaction is another great reason to lean on talent solutions. Let’s think about payment solutions. When employees and contingent talent know that they will be paid accurately and on time, it helps to boost morale, and for freelancers – it makes you their preferred client.
Finally, talent solutions can be great for workforce planning. Being able to identify who you have ties with, what their skills are, and what their availability is helps to isolate any gaps ahead of time, and make proactive decisions so that workload doesn’t stall.
Examples of the Best Talent Management Solutions
Each talent management solution will have its own pros and cons, but it can be helpful to look for a solution that checks as many boxes as possible, so that you don’t end up juggling too many technologies. Here are some examples of some popular talent management solutions.
Fiverr Enterprise
Fiverr Enterprise is a SaaS solution that gives you full visibility and control over your entire freelance workforce by allowing you to source, hire, onboard, manage and pay, all while ensuring compliance, so your teams can work faster and maximize business growth.
For Procurement leaders, there is no smarter single solution for handling the entire freelancer lifecycle. Our platform helps you focus on hiring the right talent, and then provides tight visibility over your contingent workforce from end to end. Fiverr Enterprise includes smart sourcing so that you can rest assured you’re working in a compliant way and with the best people for the job, and you can also build out your own talent pool who you know are great for the business.
We also automate the legal and compliance headaches that can slow you down when onboarding and offboarding freelancers. You can create customized and automated workflows so you’re sure you have the right documentation, and Fiverr will handle signatures and updates behind the scenes, too. The continuous auditing ensures there’s never any risk of misclassification. Fiverr Enterprise also offers the ability to set up customized payment terms, so that all freelancers are always paid accurately, and on time.
Deel
With more than 100 entities around the world, Deel allows you to quickly hire new employees abroad, primarily using the Employer of Record model. Deel takes on the hiring on your behalf, so that employees can compliantly start working for your organization, no matter where they live.
Trakstar
Trakstar is all about employee performance management, helping businesses get more out of their workforce. Internal engagement surveys help reduce churn, and upskilling features help with ongoing training and professional development. Trakstar also has some supportive integrations with leading HRIS programs.
Lattice
Calling itself an HR platform, Lattice is great for industries like Sales or Retail, especially where managing compensation is an important part of the job. You can identify top talent, connect performance to compensation and bonuses, and access analytics, comparing against OKRs and business goals.
Peoplebox
Peoplebox describes itself as OKRs and People Management Software, and is a talent solution that streamlines performance reviews, 1:1s, and goals and initiatives. You can help your employees recognize what’s driving the business, and how they can do their part.
Fiverr Enterprise: A Talent Solution Built for Global Freelancer Management
Fiverr Enterprise is an all-in-one talent solution that offers:
- Expert sourcing: Simply post a job, and receive 2-6 viable candidates in just 48 hours, or choose from our pre-selected list of expert freelancers.
- 360° compliance: Take the weight of paperwork off your teams, as we automate all legal and tax compliance, and alert to any risk in real-time.
- Customized payments: One centralized dashboard, with every spend connected to a PO and a cost center. You pay us one single invoice, monthly.
- Complete control: Use time more strategically elsewhere, when you know all communications, documentation, and workflows are aligned to your context.
Interested in implementing a smart talent solution, and realizing these benefits in your own team? Schedule a 30-min call with one of our workforce experts to learn more about Fiverr Enterprise!