Talent platforms are a fast-growing segment of digital marketplaces that are figuring more and more prominently in the workforce solutions ecosystem, and “talent platform” is the week’s Staffing Word of the Week. Staffing Industry Analysts’ Lexicon defines talent platforms as:

“A model that enables specific hirers and freelance workers to enter into, complete and transact work arrangements through a website or other digital platform such as a smartphone. It is essentially (more or less) recruiter-less staffing with the entirety of the transaction including remuneration facilitated online via a two-sided marketplace of workers and hirers. Unlike staffing, the talent platform takes no responsibility for the tax or social insurance obligations of the workers.”

It adds, “There are two sub-segments of talent platforms which have slightly different business models, though categories are not necessarily mutually exclusive, and many platforms offer a blend of these models: crowdsourcing platforms and talent platform aggregators.”

Global gross spend volume (fees paid to workers plus fees for facilitating transactions) on work services platforms is roughly estimated at $449.2 billion, according to “The Talent Platform Landscape” report released Sept. 30. The figure is based on the amount of B2B spend flowing through talent platforms as well as work services platforms (which focus on providing specific services and are more B2C focused such as Uber or DoorDash); a majority of B2B spend flows through talent platforms, so B2B can serve as a reasonable proxy for talent platform GSV.

“The Talent Platform Landscape” report is available to corporate members of SIA.