Why "Talent as a Service" isn't a service without Tech

There's a "new" trend in the recruitment industry, I say new, it's been around for a few years, and it's called "Talent as a Service".

So what is TaaS?

The traditional model of hiring full-time employees often falls short in meeting the dynamic needs of modern business, i.e. hiring is f***ing hard.

And let's be honest there is a crunch on costs, and what type of spend tends to go first; training, marketing, entertainment and of course recruitment. In response to this, Talent as a Service (TaaS) has emerged as an alternative offering from traditional recruitment companies.

TaaS is presented as on-demand access to specialised skills and expertise, embedded resources that can help drive your evp, employee brand, hiring strategy and ultimately source talent.

All for a modest subscription.

Now the cynic in me would say this is just recruitment in disguise or an RPO, at a reduced cost. There isn't really any "new" services being provided it's just presented in a consumable package at a price point that over time likely equates to a similar cost of placement fees.

Previous incarnations of this included retainers or pay-in-x models.

That said, there has always been significant benefits in outsourcing talent.

1. Accessing a wider pool of candidates:?agencies have access to a large and diverse pool of candidates.
2. Time-saving:?agencies handle the entire recruitment process, saving you time and allowing you to focus on your core business.
3. Cost-effective:?it can be more cost-effective than in-house recruitment, as companies pay staff to handle the process.
4. Sourcing is hard:?agencies have specialist expertise in recruiting for specific industries and roles.
5. Scalability:?agencies can scale their efforts up or down as needed, making it easier for companies to adjust to changes in their hiring needs.
6. Avoiding internal bias:?agencies are not affected by internal bias and can help a company to hire candidates objectively.

The role of tech in TaaS

However, it is crucial to recognise that TaaS without technology is merely an idea or just buying people's time. TaaS on it's own lacks the necessary tools to truly deliver a valuable experience and service to both candidates and a business.

If you're just buying someone's time, isn't TaaS just a candidate speaking to Dave instead of Darren?

A good TaaS provider will come with a ready-made or well-designed process or framework, supported by technology or partners that you can engage with (or not) as part of your hiring value chain.

As a business owner you need to consider that TaaS providers own two critical things:

1. Your brand: hiring is the frontline for your brand and providers are representing you in the market.
2. The experience: every candidate experience, even if they're not right for you, should be a good experience.

And technology in hiring #hiringtech is changing almost daily, particularly with the increase in the use of Ai and a TaaS provider should realistically be at the fore-front of the latest tooling to create a market leading experience.

In a tight talent market tech isn't just an enabler, it's an equalizer as if you're not at the forefront of Hiring Tech then your competition is, so make sure to challenge your TaaS provider to bring a market leading toolkit, not just a warm body.

Conclusion

While the concept of Talent as a Service holds immense potential and benefits, it is incomplete without tech. Tech acts as a catalyst, enabling efficient talent discovery, seamless management, streamlined onboarding, access to talent, data-driven decision making, and continuous improvement. By harnessing the power of tech, businesses can unlock the true value of TaaS and stay competitive in an increasingly tight talent market.

So the question for your TaaS provider should be "What technology are you using to support your Service and how do I engage with it?"

And if the answer is just a CRM, run.

And if you're a TaaS provider, come chat, we can help you build a great experience for your clients and candidates at Upplft

Image source: Techcrunch