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| WHAT WE’RE DOING |
| Helping displaced workers through AI |
| The coronavirus has turned the US job market on its head. While businesses across the travel and hospitality sectors have been hit hard, big retailers and delivery companies are expanding, reportedly trying to hire some 500,000 or more people in the coming weeks. |
| The Food Industry Association and Eightfold.ai have teamed up to create an online marketplace to help people who have lost their jobs during the coronavirus crisis find work. The Eightfold.ai-powered platform, Talent Exchange, launched on April 6. |
| The platform’s promise, according to Eightfold.ai CEO Ashutosh Garg, is to help business leaders take care of their people. “If your company is going through tough times, you can place your workers into roles at other companies that need their help,” he said in a press release. “Doing so will fill critical shortages and create goodwill with your workers, in hopes that they will rejoin you when business conditions improve.” |
| In a single dashboard, Talent Exchange helps employers understand how their workforce has been affected. Employers can send a link to employees that lets them create profiles that hiring companies can see. Candidates are matched with available roles using artificial intelligence. |
| McKinsey is supporting the effort with research on the rapidly evolving US job market and insights gleaned from discussions across a breadth of sectors. “There is a huge labor mismatch, and individuals are being affected very differently—from retailers furloughing tens of thousands of workers to other organizations needing to hire more than 100,000 workers quickly. We’re excited to help bring a scalable offering to the market,” said McKinsey partner Andrew Davis. |
| Talent Exchange, available in 15 languages now, is expanding to other affected geographies and sectors that have a growing imbalance of jobs and available talent. Employers who would like to use Talent Exchange should visit the Talent Exchange website or email talentexchange@eightfold.ai. |
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| BACKTALK |
| Have feedback or other ideas? We’d love to hear from you. |
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Copyright © 2020 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007
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