By Vineet Bajpai, Founder & CEO, talentrack
Headquartered in Noida, talentrack serves as the largest talent hiring & networking platform for media, entertainment and creative art industries.
Technology has slowly but surely made deep inroads in almost every industry and aspect of human life. Its penetration has helped nearly every facet of existence and business become easier, convenient, effective and intuitive. The recent addition of technology in the realm of talent management with social media, smartphones and cloud-based technologies being used avidly to recruit potential employees has led to a faster and wider business process. The work of talent management firms has become simpler and has begun to yield better results through the optimal utilisation of technology.
Talent management technology has evolved considerably over the past decade, moving from the transactional to the intuitive, the reactive to the proactive. It has become an essential enabler in managing workforce, and this has led to a dramatic change in the way managers interact with their employees. While in the corporate sector talent-hiring and professional networking have become extremely organised and tech-enabled with the likes of Naukri.com, LinkedIn.com, Shine.com, TimesJobs.com and so on, it has taken longer for the media, entertainment, creative & art space (MECA) industry to leverage their full benefits. The media and entertainment industry is the second-largest employment generator of the Indian economy after IT and ITeS firms. The $21 billion industry is poised to touch $100 billion by 2025.
There are tens of thousands of people associated with the entertainment sector with the central resource of the industry being artists. India boasts of holding the world’s largest film industry and the third-largest television market in the world. The MECA domain sees significantly higher recruitment activity because unlike the corporate space where people get employed with a single organisation for years, artists have a more fast-moving career graph and get employed only for a few days or weeks at a time depending on the nature of the project. This increases the overall hiring velocity of the entire industry and every artist is engaged by not one but numerous recruiters in say one year’s time. The number of recruitment transactions in the entertainment industry is unimaginable, especially when we consider regional cinema, television and advertising domains. Given these diverse and intense hiring dynamics, the need for an organised and reliable online platform is very pronounced.
The penetration of technology in the entertainment industry has brought about immense opportunities. Not only does entertainment come from user-generated content but in the form of on-demand entertainment, where technology is able to give consumers what they want exactly, be it in the form of music or videos. Also with the emergence of several social media platforms, there has never been a more direct way for performers to get traction.
However, with technology capabilities changing on a daily basis in the entertainment sector, it's important to keep up with the challenges and meet the requirements of the consumers. Artists across categories like actors, models, singers, photographers, designers, graphic artists, musicians, dancers and more are scattered across the country and there needs to be a way to manage their talent and hook them to the right platform.
In this scenario, Talent aggregator platforms help in managing the entire hiring process and revolutionizing the MECA talent market, aggregating TV production houses, book publishers, art galleries, casting & modeling agencies, film production houses, producers, event management companies, fashion designers, literary agents and other talent-acquirers and connecting them with an enormous and organized pool of creative talent in the millions, while also fostering a rich social community. Artists are brought on board via marketing campaigns on Google, Facebook, LinkedIn and other online channels.