Prerequisite of a Skills Market

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Research commissioned by the ReGeneration and published in September 2006 shows some 94% of Australians feel their everyday skills are not valued, with 50% of workers reporting their skills are unrecognized and under-valued in the workplace. Of great interest, the research recorded the same response across the three main working generations, Baby Boomers, Generation X and Generation Y.

People continually accumulate skills throughout their lives, the accumulation forms a very marketable asset, perhaps a more valuable superannuation asset – Knowledge Superannuation. Your skills asset is marketable at 18 years of age all the way through to 88 years of age, and perhaps a few years further on.

When the ReGeneration decided to establish a Skills Market, there were a number of prerequisites required to ensure success:

The facilitator must be independent to ensure a level-playing field. This is the natural extension of a free-market economy; and

A commercial enterprise addressing Australian business, where our members are traders or entrepreneurs. Our members empowered with the same supply and demand information for their skill products as any business gleans from their market. A variant on the now common internet market usage, “Business-to-Business” (“B2B”), the Skills Market variant will be P2B – “People-to-Business”. The middle person is removed, a direct relationship is established – a simple demonstration of initiative and personal motivation; and

To maximize the efficiency and provide greater opportunities, the market must be national – a National Skills Pool; and

Privacy and discreet use and access must be a major part of the Skills Market. Members determine when and to whom they release their details. People currently employed must have the same discreet access to determine their market value as someone looking for employment.

We must lose the Industrial Revolution dogma relating to the term “job”. Skills define the person, each person is a unique entity. If Australia is to successfully compete in the global economy, the criteria for the employment selection process must focus on “skills mix”.; and

The unbundled skills of the individual become products in the skills market. Like products, some have a shelf-life, most don’t - all have a life expectancy far greater than most tangible products; and

The Skills Market must have a much greater reach and audience, which includes all small to medium business (“SME”) and consumers. With less than 3 out of every 10 jobs ever advertised, the Skills Market is clearly 3 times the size of the conventional “jobs” market; and

Buyers search for free – perhaps the most important aspect in reaching the SME and consumer. The service is clearly akin to a Yellow Pages ™ with perhaps a slight ebay™ flavour. No costs levied on either the search, the transaction or ultimate relationship. This is the only way for the individual member to address such a large market; and

The sellers in this market form a membership which is governed by stringent agreements and privacy considerations. Their products are displayed in response to search criteria. The system stands between the buyer and member until the member responds. “An offer to buy, followed by an acceptance to discuss”; and

The technology and the concept application must be world class to facilitate the transactional nature of this market. Ausindustry innovation grants were received and patents have been registered in Australia and overseas. The robust design of the system allows ease of performance for the intended National Skills Pool and will ultimately be used internationally – a world wide skills pool potentially!; and

The Skills Signature® technology must provide relevancy in relation to the search criteria. Coupled with a GPS system that places the closest most relevant member first in the display to the searcher ensures fairness for all members. The definitional qualities of the Skills Signature are unique, conveying a clear understanding of the member’s capabilities instantly to the searcher – at no charge!; and

Instant display of relevant and available skill, essential for market satisfaction. Importantly it provides industry with reduced wait and downtime – immediate access time savings enhancing the nation’s productivity.

We must cater for all sectors of the population, from the early entrant through to the veteran perhaps looking for mentorship roles – “Skills – on tap – online 24 X 7”.