Activating the Internal Talent Marketplace | Deloitte Insights

One impact of the pandemic is that it has accelerated organizations’ need to scale and flex their talent models to meet both the needs of the business and their workforce. And as organizations help their workforce reimagine professional development, career mobility, and work purpose, many of them are turning to a talent practice called the internal talent marketplace (ITM). ITM– usually hosted on a technology-enabled platform–connects employees with opportunities both inside and outside the organization. The concept goes beyond just matching people with full-time roles and provides access to gig work, mentorship, rotation programs, and volunteering assignments, to name a few. This article offers several insights on how to accelerate the delivery of an ITM model through iterative design using the four “Ps”: 1) Purpose: Define your strategy based on different possible use cases and measurable outcomes, 2) Plan: Determine the iterative steps required to activate the internal talent marketplace, 3) Program: Define the policies and processes that enable talent and career mobility 4)  Platform:  Work toward an integrated technology ecosystem. Several insights are provided in this article, including Figure 1, which summarizes three distinct strategies organizations use to determine the purpose of their ITM.