Marketplaces have changed our lifestyles. As a society, we’ve moved away from single-product, in-person, manual systems, to much more fluid, dynamic, and personalized services – to marketplace platforms.
The rise of marketplaces has been organic, because marketplaces are efficient. They match supply with demand. Think about the comparison between Encyclopedia Encarta and Wikipedia, Yellow cabs and Uber, Blockbuster and Netflix. Across industries, marketplaces break down barriers to better match supply with demand, making access to goods and services easier to those who want them, and enabling sellers to reach a broader consumer base to reach business goals.
Gloat applies this same power marketplace dynamics and AI to support enterprise workforce management and planning. We help match supply and demand for skills, candidates, job opportunities, using the efficiency of marketplace dynamics to drive results for businesses, and their employees.
We started by building a talent marketplace. By building the AI and marketplace models to match talent to opportunity, we’ve created a foundation to evolve into a marketplace platform that can match employees to careers, understand the relationships between jobs to identify and build a job architecture, and surface and organize insights to equip business leaders with a command center for decision-making.
Employees can access opportunities and career recommendations unique to their interests and experiences, managers can tap into qualified talent for any project or role, and business leaders can get real-time insights on how skills, roles, and the relationships between them are changing across their organization, all within the platform
Gloat is focused on enabling enterprises to harness the power of its self-evolving artificial intelligence (AI) and marketplace dynamics to democratize career development, unlock skills, and future-proof the workforce. As the first-ever Internal Talent Marketplace, used by the world’s leading companies, Gloat now facilitates on-demand, personalized experiences across the employees, managers, and business leaders that deliver against key business objectives.
By tapping into the hidden potential of talent throughout the organization, Gloat’s enterprise agility platform uncovers accurate, real-time data about each employee’s skills, experiences, and aspirations – enabling organizations to autonomously match people to development opportunities, and provide mission-critical organizational agility, visibility, and insights.
With the support of our world-class dedicated team of change and organization management experts, project managers, internal marketing specialists, and more, Gloat enables companies to:
- Unlock capacity to create an agile workplace
- Uncover skills and aspirations to align the right talent to the right priorities
- Provide clear visibility into career opportunities, with personalized suggestions
- Gain real-time skills insight to identify gaps, anticipate changes, and proactively adapt
Our enterprise partners have seen tremendous results at the aggregate level with Gloat – creating organizational agility by shortening time to staff, breaking down silos to drive growth in cross-team collaboration, driving inclusion by creating transparency and equal access to opportunities for often underrepresented groups, and much more. But the specific examples are perhaps most powerful:
Unilever’s CEO, Alan Jope, reported in their 2020 Annual Update that their Gloat-powered Talent Marketplace called FLEX had unlocked 500,000 worker hours and enabled more than 3,000 business critical projects (Source).
Standard Chartered Bank saw 4000 hours of productivity unlocked, and groups using Gloat seeing the biggest year-on-year increase in satisfaction with career and development opportunities in the Bank’s annual employee survey (Source).
Such aggregate results come from individual stories of talent mobility and opportunity access powered by Gloat.
An ice cream brand manager in Turkey – who had no extra headcount – was able to staff a global project team of colleagues with unused capacity in LatAm, India, and Europe to develop and launch a new premium ice cream brand in weeks rather than months.
As the pandemic hit, a fast-moving consumer goods company was able to recruit 10 people from across units including R&D, Supply Chain, and Customer Development to launch 15 new hygiene products in a matter of weeks, resulting in 283 Million Euro in new revenue for the business.
A hiring manager for a global technology company saw a 58% increase in female candidates matching for an opportunity that traditionally skewed male.
Instead of backfilling a full-time hire using a recruiting service often costing $40K+ in fees, a manager going on maternity leave was able to break apart her role into 5 project-based roles that were all filled by existing capacity in the org, giving 5 people from within the organization access to an experience they otherwise wouldn’t have had.
And beyond these stories, each of the below outcomes can be attributed to one of our customers:
- 500+K unlocked hours of productivity
- 47% New cross-functional assignments
- 58% Increase in participation and assignment of women
- 65% New skills gained through experience
- 24k monthly active users
- $1.4 Million cost savings in <4 months
Countless stories from our customers, all ladder up to the large-scaled productivity, retention, and cost-savings metrics we cite at the aggregate level.
We achieve these outcomes through the pillars of our product portfolio:
- Talent Agility – an opportunity marketplace, enabling employees to access learning, mentors, career opportunities and projects within their organization, all tailored to their skills and experiences. This enables businesses to deploy talent on-demand seamlessly, while giving employees unique development opportunities.
- Career Agility – Beyond access to opportunity, employees need to understand their path to development. Career Agility offers a personalized planning tool where employees can map out their career paths within your organization and see AI-based recommendations based on what others with their experience have done, what they have expressed interest in doing, and what a path to leadership requires. For more immediate upskilling needs Career Tracks offers micro-learning and short-term structured development planning, employees can curate or work with their managers to create a Track to improve specific skillsets or address performance concerns in their current role.
- Organizational Agility – By connecting data from HR systems, market data, our own customer aggregate data, we can give you one unified talent data set to use for your organization, updated in real-time with AI and marketplace dynamics. This data gives you a full picture of the skills in your organization, in a comprehensive console to view and manage for L&D planning. Our Analytics and Insights can help make that data actionable, showing skill gaps, emerging skill trends, and more. Futher, now that you have a harmonized data set as your single source of truth, you can export that data to other systems and tools for further analysis, or to ensure a unified talent experience. Then, to act on those insights, the talent agility marketplace is there, to hire for critical roles and skill gaps, or implement key development initiatives.
- Ecosystem/Hiring Agility – View candidates in one central place, surface jobs from your recruiting technology for internal candidates, and centralize opportunities from learning vendors to jobs, to volunteering all in one place for employees.
Beyond the results we’ve seen, here is what makes Gloat’s marketplace technology stand out:
- First and foremost, Gloat is the only vendor with multiple live Talent Marketplace deployments at global scale in the Fortune 500. There is a lot of talk and buzz in the industry, but they are the only technology that is actively being used in global deployments and seeing real human and business impact
- Gloat has built a consumer-grade technology that is optimized for end-user engagement. Gloat’s platform sees profile completion of 80% in its deployments and monthly active usage of around 40% across cohorts. These are numbers traditional HR technology vendors simply cannot compete with, creating a tremendous amount of data feeding into the system to make Gloat’s matching efficacy and success higher impact than any other provider could even attempt
- Gloat has a purpose-built AI tailor-made to the challenge of internal talent matching and mobility, one which uses sophisticated multi-matching algorithms, a self-evolving skills ontology, and an anti-bias system to ensure the quality of its matching is the industry benchmark to beat. These are not just marketing buzzwords either. With three technical founders (all from the IDF 8200 Unit) and a heavy focus on R&D and Product with their Tel Aviv hub, Gloat has a significant advantage in the quality of its tech and ability to successfully understand and match the talent and skills within an organization to the opportunities the business needs to staff.
- Gloat has a seasoned in-house change management team that is staffed to every deployment, ensuring that they support their customers with not just the best technology, but the culture change and enablement necessary to successfully deploy this technology. We connect new customers with our full customer and partner community and work with them at every step of the way to deploy the talent marketplace not only as a technological tool but as a tool for cultural transformation.