Abandoning feudalism – the open talent economy

The second part of Deloitte’s Human Capital Trends 2013 paper discusses the emerging open talent economy, a change in the way that businesses relate to the talent they employ.

While Deloitte ties this shift to some very modern trends such as crowdsourcing and ecological analysis, it can also be seen as part of a much a wider historical trend away from medieval structures of feudalism and into a less hierarchical age.

Defining the open talent economy

The open talent economy represents a more fluid, collaborative approach to working than the traditional model in which talent is sourced through the strict employer/employee relationship. It sees sources of talent as sitting on a scale from the traditional employee through to the free insight tapped into through customer feedback, through partnerships, collaboration along the value chain, and the employment of contingent workers.

Driven by changes in education, technology and mobility, this open talent economy means that the best way for companies to employ skills is not by always including them in their own workforce but by working in a less bounded, more project focused way, employing talent through the route that best serves a particular need.

It also places demands on HR managers who must come to grips with different models of work, as employees increasingly insist upon these arrangements.

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