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Why Build Your Own Freelance Talent Network?

Sponsored by: Worksuite

The case for building a flexible talent network has never been more compelling. During the “Great Resignationof 2021, 47 million U.S. employees voluntarily left their jobs. And in 2022, a wave of disengagement took hold among remaining workers, giving birth to the term “quiet quitting.” Now as 2023 begins, the global talent shortage continues to play havoc with hiring strategies.

Access to skilled people who can keep your business moving forward is no longer a sure thing. That’s why smart employers are investing in freelance talent options. But what’s the best way to find and manage a qualified pool of on-demand talent?

When building a contingent talent network, you may be tempted to source contractors from public marketplaces. This seems easy enough, but it can be a frustrating and time-consuming option. On the other hand, if you run an established business, you could grow your own talent pool by leveraging your brand presence, network connections and internal resources.

This do-it-yourself approach means you don’t need to rely on potentially low-quality, unknown talent from a third-party network. However, it does require some careful planning. So to help you achieve better results, here are our best tips for sourcing, hiring and retaining top freelance talent.

Why Avoid Public Talent Marketplaces?

Marketplaces like Fiverr and Upwork are often an easy and popular first stop for employers seeking on-demand talent. And they can be useful if you need support in a pinch. Whether you’re looking for developers, designers, writers, or photographers, these platforms let you choose from hundreds of eager freelancers — often at bargain prices. 

But with so many potential candidates for every opportunity, finding a freelancer who meets your specific requirements can take longer than you’d like. And these marketplaces tend to produce hit-or-miss results. Here’s why:

1. Barriers to Entry are Low

It’s possible to find some fantastic people on these platforms. But sourcing them can be time consuming for your managers and teams. That’s because it’s so easy for anyone to join these public marketplaces. No experience or qualifications are necessary. All it takes is an account and a profile that attracts clients.

Literally anyone can promote their freelance services on these sites, whether they’re capable and qualified, or not. You never know exactly what you’re getting until you actually work with a contractor.

2. Faking Performance Rankings is Easy

You might think it’s a safe bet to hire a freelancer with hundreds of glowing five-star customer reviews. But don’t be fooled. Social proof can be easily bought.

Positive reviews are essential to get found and hired from among the hundreds of other marketplace hopefuls. So naturally, freelancers want to look as good as possible, as fast as possible. But accumulating strong legitimate reviews for freelance services takes a lot of time and effort.

Artificially enhancing your marketplace ranking is illegal. Nevertheless, this has spawned an underground network of people who buy, sell, and exchange reviews so they can get ahead.

These false ranking services aren’t visible on public freelancer marketplaces. But a Google search quickly reveals plenty of opportunities to buy or swap reviews in places like these:

Some websites even blatantly offer to help freelancers falsify their marketplace rankings. Well-known options include ReviewXchange and Fiverr 5 Stars

Bottom line: When hiring from public freelance marketplaces, “buyer beware” is a smart strategy. But if you can achieve better results in other ways, why take unnecessary chances and spend limited time and resources on public marketplaces?

Are Any Public Talent Marketplaces Credible? 

If your only option is hiring from a third-party marketplace, we recommend considering a handful of “focused talent service platforms” (FTSPs). Freelancers accepted by these platforms have been rigorously screened to ensure they are qualified for positions they’re pursuing. This reduces your risk as a hiring organization and makes it easier for you to conduct a talent search with confidence.

Below are four viable FTSPs that offer fully vetted, high-quality talent:

  • MarketerHire — Provides access to qualified marketing specialists
  • IndieList — Offers carefully-screened freelancers, contractors, and consultants from Ireland 
  • BetterUp — Connects businesses with expert coaches
  • Springboard — Provides access to fully trained, vetted professionals in cybersecurity, software engineering, design, data science and tech sales

Harnessing the Power of a DIY Talent Network 

Generally, businesses recognize it’s cheaper and easier to retain existing customers rather than continuously hunting for new prospects. The same principle applies to talent acquisition. An internal talent pool offers multiple benefits:

1. Speed to Hire 

Sourcing new talent often requires substantial time from your team. But by tapping into an existing talent pool, the process can be as fast as running an advanced search in your freelancer management system database to find the best fit among available people.

A good platform can provide granular details about anyone in your talent pool. For example, you should quickly be able to find someone in your extended organization who has demonstrated the skills you need on another project. You may also see a note or ranking about this person’s contributions, so with only a few clicks you can determine the strength of the individual’s qualifications.

2. No Training Downtime 

Your existing talent is already familiar with your organization, its operations, and its work practices. This means you don’t need to spend extra time continually onboarding and training new people.

3. Leverage Talent Across Your Business 

By extending access to existing talent across your organization, you can improve cross-functional business performance and reduce overall hiring spend.

4. Grow Your Internal Talent Pool 

Freelancers don’t exist in a vacuum. They all are connected with other skilled people. You can expand your internal talent pool by tapping into these networks. It’s as easy as sending emails requesting referrals.

Experienced freelancers won’t refer you to people they don’t trust because they know it could damage their own reputation. But many will happily refer viable colleagues.

You may decide to incentivize referrals – or not. Either way, existing contractors can be a highly effective and efficient source of network growth.

For example, with an internal talent network platform like Worksuite, you can use the Marketplace module to post and share opportunities for upcoming work. You can also vet new candidates, assign work opportunities to individuals, and invite them to submit RFI-style proposals for upcoming projects. In addition, you can maximize your reach by sharing new opportunities with both internal and external sources.

Where to Look for Contingent Talent

Freelance marketplaces and job boards aren’t the only way to find great contingent talent. Consider these alternatives: 

  • Social Media — Outreach on platforms like Twitter and Facebook can attract candidates from members of your global brand community.
  • LinkedIn You can search and contact freelancers directly or spread the word more broadly with posts on your LinkedIn company page or in specialized groups.
  • Referral Campaigns — Offering “finders fees” for referrals from employees and contractors can generate significant interest.
  • Alumni Talent Pools — Adding former employees and contractors to your database of on-demand resources is an easy way to maintain ties with qualified people.
  • Networking at Industry Events — Gathering profile data from participants at key professional conferences and other events can help you easily develop an extensive pipeline over time.

Developing Talent Network Trust and Loyalty

Sourcing is vital when building a high-quality freelance talent network. But that’s only the beginning. It’s also vital to keep people onboard and engaged with your organization.

Freelancers (especially in the Gen Z age bracket) know many opportunities are always available online. All it might take to land the next assignment is a single email or application. To keep potential candidates connected with your company, you’ll want to develop trusted relationships with valued contractors.

For example, these tactics are often effective:

  • Assign a steady, interesting flow of work opportunities
  • Communicate regularly and directly with active members
  • Gather ongoing feedback with periodic surveys 
  • Offer new assignments that expand on relevant skill sets
  • Provide loyalty incentives
  • Host annual awards to recognize excellent performers 
  • Increase pay rates to ensure top members are appropriately compensated

 


Worksuite: A Talent Network Solution

If you want to develop and manage your own talent pool, a specialized solution like Worksuite can make the process much easier. This platform includes essential features and metrics employers need to build and maintain a compliance administration and quickly identify top candidates whenever contractors are needed. Here’s how customers use Worksuite to support freelance talent strategies

1. Customize Onboarding Workflows

Worksuite partners with you to create an onboarding process that meets your exact needs. This includes capturing all the contracts, documents, tax information, and banking details needed before new freelancers are assigned to any project.

2. Add and Invite Freelancers to the Platform

Use sourcing and onboarding tools to reach out to prospective talent, and add qualified individuals to your detailed, searchable internal talent pool hub.

3. Ensure Contractor Compliance

Before assigning work to a freelancer, you must ensure they’ve received proper background checks and are compliant. This prevents costly legal problems down the road, especially when hiring global talent.

With Worksuite, background checks are managed through our partner, Checkr. This saves time for you as a hiring company while giving you peace of mind that every contractor you hire is legitimate. Worksuite also coordinates compliance administration. So, whether you’re working with 10 freelancers or 10,000, you know all NDAs, contracts and tax documents are in place to meet local and international regulatory requirements.

4. Publish a Searchable Talent Directory

Posting profiles of everyone in your talent pool gives your team a highly accessible overview of every contractor in your database. You can dive in deeper to see more details for any individual. Also, freelancers can access and edit their own profiles to be sure their information is always up to date.

5. Assign Groups, Tags and Rankings 

In addition to using the platform’s overview capabilities, you can easily organize freelancers in your dashboard. This gives HR and hiring managers full transparency into a member’s work history, background information, experience, skills, and abilities. 

You can also segment members into custom groups that make sense for your business, so you can easily search and select ideal candidates for any assignment at a granular level.

6. Rank, Rate, and Review Freelancers 

Talent rankings, ratings, reviews, and internal notes help your hiring team easily find any freelancer’s performance record at a glance. This helps you quickly decide who should be assigned to an opportunity (and who would not be an ideal candidate).

7. Track Key Metrics 

With Worksuite, you can set up metrics that reflect the quality and quality of deliverables your contractors produce. Here are some examples of metrics that help customers identify attractive candidates: 

  • Highest-rated members
  • Most engaged members
  • Talent active on multiple assignments (vs. only one assignment)
  • Percentage of assignments canceled prior to the start date 
  • Percentage of assignments rejected by members
  • Average number of assignments per member
  • Individuals who have not been assigned to any projects within the last 12 months 

8. Communicate Regularly With Network Members

You can manage all communication with network members directly from the Worksuite platform. Also, you can send personalized bulk messages using your organization’s filters. This helps freelancers stay engaged with your business, and keeps them up-to-date with your news and job opportunities.

9. Archive Talent Records

With Worksuite’s archive feature, you can remove access to the platform for freelancers who haven’t worked with you in more than 12 months. This helps keep your talent database current, so you know who’s still interested and available to work with your organization.

 


EDITOR’S NOTE:
To learn more about how Worksuite tools and services can help you start or grow a high-quality freelance talent network, contact Worksuite directly.

Internal Mobility, The Talent Marketplace, and Why to Embrace It

The world of work is rapidly evolving, and so are the career aspirations of the people. Compared to what we saw decades ago, people don’t want to embrace the same position for years till they retire. Instead, they are looking for opportunities to try new duties, get new skills, and stay flexible and agile.

On the flip side, today’s labor market is highly competitive, and there is a scarcity of skilled workforce. The PwC CEO survey reveals that a whopping 74 percent of CEOs are concerned about the shortage of critical skills and talent.

As a response to those challenges and today’s look at the future of work, internal mobility comes into play very actively.

The ‘secret sauce’ of internal mobility

The modern internal mobility concept evolved as the next logical step after the traditional career management model. The problem with career management was the idea of “waiting until someone is ready.” This resulted in losing top talent who took career opportunities elsewhere. Even if mobility was facilitated—or rather forced by management—it looked more like “assigning” new roles to employees.

Internal mobility today is agility built into the company’s talent processes. This model allows companies to get the most out of the talent and skills their employees obtain. Employees, in turn, get multiple opportunities like taking new and adjacent roles, upskilling, and keeping up with the company without having to leave it.

Internal talent evolution, however, wouldn’t be possible without technology. Today, the HR tech landscape contributes to internal mobility by providing what are called talent marketplace solutions. Simply put, a talent marketplace is a platform that connects employees with career opportunities inside the organization.

From recruiting to employee upskilling: What the talent marketplace brings in

The talent marketplace helps companies improve their employee engagement, development, and retention. Other challenges the talent marketplace helps address are:

  • Accelerating time-to-hire and optimizing hiring costs: Many organizations still pay big bucks to recruit people from outside. With a talent marketplace platform and insights into the company’s skills and talents, organizations can save recruiting expenses and instead connect their internal employees with the internal job openings.
  • Improving productivity of new hires: Employees who joined a new project or stepped into a new area of responsibilities within the company demonstrate better productivity. The reason follows. Internal talents have already spent some time with the company and can bring their valuable insights and skills to the new role. Besides, the opportunity to shift to a new role within a company contributes to employee motivation, engagement, and development.
  • Addressing skill gaps and future-proofing: The talent marketplace also helps the company coordinate all its available talents and see if they match current and future job roles. This way, companies can spot the skill gaps and align their employee development activities with their strategy and market trends.
  • Building a more agile workforce: In the long run, by embracing internal mobility powered by technology, companies can foster transition to a more agile workforce.

Talent insights as a fuel for internal mobility

One more component that makes internal mobility sufficient is data. The lion’s share of it, apparently, comes from within the company. Employee CVs, job profiles, training programs, and other assets containing information about skills are filling the internal mobility machine. Data about internal skills loaded into the talent marketplace platform transform into insights. Some of them allow companies to:

  • Basically, match employees to existing job openings, projects, and tasks
  • Personalize reskilling and upskilling journeys to help employees grow into new roles
  • Benchmarks future skills and future jobs

Another source of insights fueling internal mobility is the external market. Market trends that have run through the talent marketplace provide companies with insights into emerging roles, skill developments, and future business trends awaiting the particular industry.

With intelligence like this, companies can fill existing job openings with existing employees and take internal mobility to a whole strategic level. Specifically, they can make skills in their company transparent. Also, they can know what skills are still missing in their company, and plan strategies to address these deficits. They can plan, personalize, and predict the effort of employee development initiatives aimed to fill in the skill gaps.

Of course, embracing internal mobility doesn’t happen overnight. It takes time, investment, data, and the right technology. But most importantly, it requires the right future-oriented mindset. American Express, IBM, Nestle, P&G, Unilever, and Google are just a few examples of brilliantly performed internal mobility strategies set on the future and employees’ development. Hopefully, more prominent companies will join these ranks.