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Integrated Virtual Labor Market

Enabling efficient public employment services for the future

Overview

As labor markets around the globe become increasingly complex, it is imperative for public employment services to have a single source of information and a set of standardized processes to drive greater efficiency, control costs, and achieve flexibility and transparency. Creating and implementing a next-generation, end-to-end employment services solution with efficient business processes at its core is critical for the success of public employment services.

Accenture’s Integrated Virtual Labor Market (IVLM) solution, powered by innovative and market-leading functionalities, integrated technology and optimized business processes, is tailor-made to serve as the core component of public employment services of the future. The off-the-shelf solution facilitates precise job placements to help reduce unemployment, and can be rapidly deployed and integrated with an agency’s existing IT infrastructure. Moreover, it can be procured through flexible commercial arrangements. The IVLM solution can act as a common self-service platform for all actors of the labor market, and accelerate job market balancing through increased flexibility and transparency.

Background

Even as employers are struggling to ensure they have access to the right skills at the right time to meet their business needs, an increasing number of people—young and old—are joining the unemployment roster every year. There is a clear mismatch between the skills of the labor force and the specific needs of employers. The lack of flexibility and transparency in the operation of public employment services is adding to the challenge. These concerns, coupled with rising labor costs, are driving policymakers to act decisively in correcting the imbalances in the labor market.

Job seekers, employers, case workers and government institutions are often found working in silos, yielding suboptimal results in spite of their best efforts. Increased coordination among all these stakeholders of the labor market is key to achieving high performance. Digitization presents labor agencies with a unique opportunity to modernize technology and reduce costs while improving customer service through collaboration and transparency.

Analysis

Accenture has drawn on its extensive experience of working with labor agencies and deep understanding of labor market challenges to develop IVLM as a comprehensive solution to bring all labor market players on a common platform. With innovative and market-leading functionalities, integrated technology and optimized business processes, IVLM serves as the cornerstone of public employment services. It leverages a series of prebuilt workflows and utilities to facilitate job matching, counseling, recruiting, case management and lifelong learning. The solution allows multichannel access and can be easily integrated with other products and technology platforms. It provides bidirectional matching, taking into account both employers' and jobseekers' search criteria, and gives alternative results based on affinities and gliding ranges, always explaining the results for maximum transparency.

The IVLM solution has been a huge success in live implementations. It has allowed public employment services to consolidate and rationalize operations to one unique, intelligent and highly flexible search and matching engine.

Recommendations

The IVLM solution is a natural choice for labor agencies of the future. With a clear focus on optimizing business processes, the out-of-the-box solution provides user-friendly features and has clear benefits for all stakeholders. They include:

  • The most advanced job-matching capabilities that take a holistic approach in matching the right candidates to the right jobs.

  • Innovative features for profiling and vacancy entry, supported through various channels and multiple job and skill catalogs.

  • An easy to use, end-to-end recruitment process—from vacancy registration online to hiring the right candidate.

  • Proven performance and stability in handling high-volume transactions.

  • A decrease in the unemployment rate as well as the average duration of unemployment.

  • Consistent service delivery through centralized software and processes.

  • Improved accuracy of job placement suggestions and increased flexibility through sophisticated matching of job seekers to vacancies.

The above features and benefits, combined with the right mix of skills and capabilities that Accenture has to offer, ensure clients achieve their business outcomes.