Top 10 global companies to adopt opportunity marketplace as a strategy for careering

The beliefs and structures of human and technical capabilities stand challenged today. New perspectives need to work and make sense. For employees to truly thrive, fundamental workforce practices – planning, deployment, management and development – need to be re-imagined.

Is it easier to find a new job inside your organization or outside?

This question has triggered a keen focus. On the need to pay more attention to employee experience including career fulfillment.

An opportunity marketplace plays a strategic role in achieving those objectives.

What is an opportunity marketplace?

An opportunity marketplace is a platform that helps create synergies between internal talent and opportunities.

Ethos of an opportunity marketplace
  • Make it easier to find a job internally than externally
  • Influence the 50%+ of all employees who are prepared to leave their current organization for a severance package

LinkedIn’s 2019 Workforce Learning Report suggests 94% of employees would stay at a company longer if they invested in their careers

3 differences between a talent marketplace and an opportunity marketplace
  1. Talent marketplace is based on the principle of work for money
  • Opportunity marketplace is based on the principle of work for opportunity
  1. People approach a talent marketplace for a job
  • People approach an opportunity marketplace for an aspiration
  1. Mindset in a talent marketplace is cost saving
  • Mindset in an opportunity marketplace is empowerment
What problems does it solve?
  • Help find a dream job internally
  • Create visibility of internal skills
  • Check career stagnation
  • Identify talent based on skills and roles instead of titles
Key benefits of an opportunity marketplace
  • Better career fulfillment
  • Better retention rates
  • Employer branding
  • Continuous learning
6 drivers for an opportunity marketplace
  • Break traditional functional silos
  • Bring focus on micro-learning
  • Use AI to identify talent for business challenges
  • Nurture a fluid workforce
  • Employee groups can operate as the gig economy
  • Impatience with the traditional speed of learning & development for millennials
How does it work?
  • Discover opportunity on the platform
  • HR plays the facilitator
  • Formalized by managers
  • Identify success measures
  • Achieve
Top 10 global companies to adopt opportunity marketplace as a strategy

How did we evaluate these companies?
  • The efficacy of their identified people challenges
  • Leveraging technology to enhance careers
  • Tangible outcomes
Some outcomes for the top 10 companies
  • Schneider Electric – Unlocked +17,000 new productive hours
  • HERE Technologies – Saw 2X growth in gender parity
  • Dolby – Witnessed a 67% employee adoption
  • Vanguard – Identified 4,582 talent indications of what people wanted to learn in 2019
  • AllianzGI – 3,200+ employees registered on the platform
  • Ingersoll Rand – 67% employees use the My Career Navigator tools to manage their own growth
  • Caisse des Dépôts Group – Discovered 800 new internal skills
  • L’oreal – 75% open positions filled internally
  • LoyaltyOne – 62% adoption
  • Unilever – 8,300 people redeployed to high demand areas