Chapter 1: Why Focus on Talent Development?

As the world of work changes globally, the number of people working in the on-demand economy, also known as the gig economy, is on the rise. Thus the gig economy is characterized by the online marketplace or applications that connect providers or freelancers with customers (Intuit, 2015). According to Intuit, several examples of online services exist that provide products and services to consumers via the Internet including, transportation (Uber, Lyft, GRUB Hub); finding work using online talent marketplaces (Up work, On Force, Work Market Hourly Nerd, Fiverr); renting out space (Airbnb, Couch Surfing); and miscellaneous services (Task Rabbit, Gig Walk, Wonolo). In this knowledge and gig economy, the demand for talent development is becoming one of the greatest opportunities for profit and benefit, as well as for nonprofit organizations. All over the world, competition for talent poses a number of opportunities and challenges as educationists, trainers, and human resource development experts try to address this critical component for competitiveness and service delivery. Developing a workforce for the 21st century requires strategic talent development policies at institutional, regional, national, and international levels.