Open talent: The future of work in a globalized world

Traditional employment models are going through a big shift in today’s business world. One of the clearest trends shaping the future of work is open talent.

What is open talent and why does it matter?

Open talent is a borderless workforce model where companies hire skilled people on a project-by-project basis, so they can tap a global talent pool instead of only full-time staff.

• It gives firms fast access to specialized skills from anywhere in the world.
• It cuts payroll and overhead, because you pay for work only when you need it.
• It boosts agility, so firms can adapt quickly to new demands and markets.

Open talent is a new way to hire and work together. It builds a global workforce that firms can draw from at will. Remote work first opened this door. As a result, talented workers around the world can now contribute their skills and expertise.

On the Outsource Accelerator podcast’s 450th episode, Global Sourcing Association UK (GSA) CEO Kelly Hallard touched on the concept of open talent. Kerry claimed that “Open talent is [probably] the biggest game changer to the outsourcing industry since the advent of offshoring.”

What is open talent?

Open talent (also called the open talent economy or gig economy) is a model that hires people on a project-by-project basis. On the podcast, the GSA CEO shared, “Open talent is the term we use in the industry for gig workers.”

This approach lets businesses tap a diverse, far-flung talent pool. So it breaks away from the limits of office-based work. Technology has powered this shift. In particular, digital platforms now connect businesses with freelancers and independent contractors. These platforms make it easy to exchange services between firms and skilled people. Many workers find gigs through popular gig economy platforms.

Why companies are using the open talent hiring model

There are many reasons firms now turn to the open talent model. According to Kerry, “There’s a massive move in individuals wanting to work for themselves and work from anywhere…

That has now been enabled by the pandemic. Anybody can work remotely these days and Gen Z are all voting with their feet to really be able to work for themselves…

Companies are increasingly turning to the open talent hiring model due to the vast availability of a global workforce.

Our industry absolutely has to get on board with open talent because we have got a global talent crisis.”

This mindset is strong among younger workers. In fact, the Gen Z work ethic leans toward flexible, self-directed roles. Here are a few more reasons open talent hiring is now a viable option:

• Flexibility. Gig work gives firms more flexibility in their workforce. So they can hire people for specific projects only when they need them.
• Cost-effective. Open talent can cost less than full-time staff. For example, firms cut payroll, benefits, and overhead while still accessing many skills. The freelance versus full-time choice often turns on this point.
• Access to a larger pool of talent. Freelance models reach a bigger, more diverse pool across the globe. As a result, they can lift the quality of work.
• Increased agility. Open talent helps firms stay agile. So they adapt fast to market shifts, client needs, and new technology.
• Specialized skill sets. Firms gain niche skills by working with open talent. In turn, they finish projects that need deep expertise without training full-time staff.

So firms increasingly adopt the open talent model for its access to skilled, specialized people. Finding these pros can be hard for hiring managers, because traditional recruiting may not work.

Types of jobs performed by open talent

The open talent model spans a wide array of jobs and industries. In today’s digital wave, open talent covers many roles done remotely or on contract. Here are some common examples.

Creative and design services

The creative field leans hard on open talent. Common roles include graphic design, web development, copywriting, and video production. So many firms hire freelance designers and content creators. In turn, these pros boost brand identity and online presence.

Software development and IT services

In tech, open talent plays a key role. It covers software development, app creation, cybersecurity, and IT support. Startups and big tech firms alike work with independent developers. As a result, they build new products and solutions faster. Open talent also drives research and data work on cutting-edge projects.

Marketing and digital marketing

Marketing is one area where the gig economy has thrived. For example, firms hire freelance marketers, SEO specialists, social media managers, and content strategists. These experts run ad campaigns and improve online visibility. Because they work with many clients, they also bring fresh, diverse ideas. So open talent offers specialized skills on demand, a real asset today.

Consulting and advisory services

Open talent reaches consulting and advisory roles too. Here, experts with niche skills guide businesses. Management consultants, financial advisors, and industry experts often work as independent contractors.

Data analysis and research

Data-driven choices matter for firms in every sector. So open talent includes data analysts, researchers, and statisticians. They help firms gather insights and study data. In turn, leaders make smarter strategic calls.

Administrative and finance work

Open talent can also cover accounting, bookkeeping, admin tasks, and customer service. Kerry noted, “Technology is really improving the way we deliver customer experience.” So with the right tools, gig workers can give excellent service. Firms that hire global offshore talent often start with these roles.

The future of the open talent economy

The open talent economy is set to keep growing. Demand for flexible, low-cost labor keeps rising. Some short-term slowdowns may have hit freelance work. However, the wider trend toward freelancing, remote work, and project-based jobs continues.

Kerry cited relevant statistics from Gartner. “By 2027, more than half of the United States workforce will be freelance workers.”

As the open talent economy grows, firms must keep up with the latest trends. According to the GSA CEO, “We’ve got to embrace open talent… I think a lot of the service providers out there are now recognizing that they need to augment their workforce with open talent workers.

“There’s some [companies] that aren’t doing it. They just don’t get it. And I think they’re going to be the laggards in this industry.”

Firms that use open talent well in their wider workforce plan will grow faster and stay competitive. As Kerry put it on the podcast, “Everybody needs to [be] on board with open talent and build or harness open talent platforms.”

So the future of the open talent economy looks bright. It draws on global talent, sharp insights, and the shared power of a diverse workforce to solve hard problems and drive new ideas.

Frequently asked questions about open talent

What is the difference between open talent and outsourcing?

Outsourcing usually hands a whole function to one provider. Open talent instead taps many individuals for specific projects. So it is more flexible and often more direct. Both models still draw on skills from outside the company.

Is open talent the same as the gig economy?

Yes, the terms overlap closely. Open talent is the industry name for gig work. Both rely on freelancers and contractors hired per project. So the main idea is a flexible, on-demand workforce.

What are the main benefits of open talent for companies?

The top gains are cost savings and flexibility. Firms pay only for the work they need. They also reach niche skills fast. As a result, they stay agile in a shifting market.

Which jobs are best suited to open talent?

Project-based, digital roles fit best. Good examples include design, software, marketing, and data work. Admin and finance tasks work well too. So most knowledge work can suit the model.