In the recruiting and staffing business, the ability to represent industry leaders in highly competitive marketplaces depend on quick access to the most talented candidates at the lowest possible cost. According to a recent Forbes article, boutique staffing firms are at a competitive advantage because they have a more focused client base and more time to invest in finding the ideal candidate. These specialized companies pay more individual attention to filling the position and have access to a large talent base to select the most qualified candidates.
Toronto-based TalentNet Inc. provides leading organizations with this boutique service. Founded in 2013, it helps companies use their brand to attract and retain high-quality contingent labour, while reducing cost and risk. The company employs some of the most innovative thought-leaders in the contingent workforce today, including former corporate and procurement executives and management consultants, solution developers and technologists to develop answers to recruiting and staffing challenges.
A proudly certified Women’s Business Enterprise, TalentNet offers world-class professional payroll, self-sourcing alumni, and redeployment solutions. It successfully began offering the industry’s first payroll redeployment solution in January 2014. The company’s estimated 2016 revenues will exceed $200 million with over 1000 active consultants on client locations across North America, the United Kingdom and Europe.
Offering a Private Talent Community
With its private talent community and self-source managed services, TalentNet maintains a database of contingent workers which exceeds its client’s fulfillment targets by over 250%. By offering exclusive partnership to a single brand within an industry, the company strengthens its client’s competitive-advantage with unprecedented reach and access to labour from competition or almost any other large-scale buyer of contingent worker.
As President and Co-founder, Amber Prothero explains: “We work with our clients to provide a list of people who have worked with them before. People who they have identified that they would like to bring on as subcontractors. So we build out that database for them. It’s owned by them; it’s branded by them and it’s their data. We then monetize that data, providing them with a platform to have easy access and be able to bring (those candidates) back in a more efficient way than traditional staffing—and at a dramatically reduced cost.”
The company’s contingent labour force database is an exclusive community of candidates which a client can access to fill positions. As Prothero says, a banking client, for example, would have their branding on a particular database. Then as part of its services either TalentNet or the client manages the database with its “self-sourcing programs.”
“If our clients have recruitment capabilities, they are given access to this community. Otherwise, we provide a recruitment team to our clients,” she says. “These teams and this database are 100% propriety to our client. There’s no crossover to other industries, or other teams.”
TalentNet’s private talent community provides clients with a database of candidates that are already familiar with the client’s environment, tools and technology, and it is applicable to large organizations that are looking to hire contingent workers regularly. “We help provide that platform to better enable them to source this expert talent, to bring them back into the organization,” Prothero says.
A True Strategic Partner
The company’s vision is to set a new standard of excellence in the contingent labour marketplace by leading innovation, encouraging transformational thinking and exemplifying superior client partnership. It serves as a true strategic partner to its clients. As a result, this empowers clients to build stronger relationships with their contingent labour workforce while decreasing talent acquisition costs.
And where conflicts of interest hinder larger companies, Prothero says the company eliminates that risk with its channel exclusivity. This approach allows TalentNet to serve as its clients’ strategic partner. “We offer channel exclusivity to our clients, which means we choose one market leader in every industry to work with as our client. So we would have, for example, only one banking client. That client would be able to look at us as truly a strategic partner giving us the privilege of working side by side to build stronger, more robust programs over time and serving as brand ambassadors helping to grow their business. There would be no fear of us working with their competition or using their brand-attracted candidates in another institution.”
First-Rate Service and Technology
As an enterprise-class private talent community, clients can integrate, capture, organize and access worker data from their VMS, ATS or other workforce management systems. The company’s white-glove managed services allows clients self-sourced workforce to access new opportunities, while end users can evaluate available workers based on skills and experience, location and previous history providing services to the organization.
The company has become successful quickly because, as Prothero explains, it has contributed disruptive innovation to the industry, and provides first-rate service and technology. “We have combined an industry first technology with an industry first service. And it is the combination of those two key components that has lead to our success. We have really scalable services as well, so our solution is applicable to very large organizations with a global footprint.”
“We offer a service that has never been offered in the market before,” she adds. “It’s truly proving to be the next evolution in the staffing industry. We are revolutionizing the way companies buy contingent labour services by helping those companies monetize their data—and access it in a much easier way, at a reduced cost.”
TalentNet also offers additional products and services, including independent contractor (IC) compliance, diversity and niche supplier enablement (sub-vendoring) and CWM consulting and advisory.