“The open talent economy is what we’re seeing as reframing of talent within organisations. It’s workers that have a borderless environment in terms of their work and where they work. We’re also seeing that your potential employees might not necessarily be on your balance sheet, so your accessing talent from different places and from different environments,” Deloitte director of human capital Ursula Fear told CNBC Africa.
“More than ever, do you have to really look at your recruitment, your development and your management of talent in a different way. Organisations now, though the open talent economy, are becoming a magnet for talent.”
Talent is fast-becoming a crucial characteristic for hiring, and is a core trait of the open economy, and an open economy facilitates the free flow of information, people and services.
In the past, organisations tackled more tangible trends, but are now having to shift their focus on more intangible spheres like the open talent economy.
A shift in the human resources model is also occurring, as such departments have started playing a more integral role in decision-making and becoming more of a business driver.
“Now, with your borderless environment of the workplace that we’re starting to see, we’re seeing different fields of different disciplines of people moving across the globe. That brings the different dynamic, a different chemistry and a different way of talent, which is exciting for organisations,” said Fear.
The real-time collaboration through technology adds to new talent strategies of recruitment, and allows for talent to be easily mobilised.
“Now what’s happening on the globe from a university perspective is accessibility to online high-value courses by excellent professors, facilitators that is now accessible for free. Very importantly from a mega-trend, analytics is starting to play a very important part of how we start to project our businesses going forward,” she said.
“One of the things that we do have to do as organisations is start to become a lot more creative in terms of how we access talent, and certainly this trend of the open talent economy is the start of that.”