Talent is scarce and hard to come by. Companies are only as valuable as the talent they employ. The people who build products are the drivers behind innovation and growth. Yet finding and measuring available talent is hard. Connecting and matching talent to high-performance teams within the right companies is even harder. Currently, connecting the supply and demand of work is a highly inefficient (human) process with expensive recruiters, job boards (that take high fees) and assessment- and education providers. In these processes, there are few resources for measuring and matching the skills of people and teams.
The rise of platform economies has blurred the relationship between employers and employees, between freelancers and customers. It is becoming commonplace to hire flexible workers instead of fixed staff, due to technological developments and the pandemic. The effect of geographical barriers grow smaller or might even disappear as a whole. Commercial freelance/gig platforms like Upwork and Fiverr take advantage of this opportunity. They are rising quickly, representing a paradigm shift in how we will work in the future. However, these platforms suffer from economically inefficient business models: Fiverr takes a 20% commission from its workers, whether they’re working a $10 gig or a $100 gig. Upwork works with fixed commissions up to $500. All other platform economies take a minimum of 15% commission on a simple transaction (Booking.com, Airbnb, Uber, DoorDash, Deliveroo, etc.). These platforms charge high commissions for relatively simple services such as payrolling and ‘matching’. A shift to decentralized business models where people can engage in peer-to-peer business will greatly decrease the commissions taken by a matching platform. With the technologies of today, Work X can ensure a matchmaking environment, for a maximum network commission of 5%. Measuring Skills To Match The Jobs of Tomorrow For a very long time, university grades and diplomas have been the most important measurement in the application process of candidates to land jobs. Education credentials tell a lot about a candidate, but they do not measure the actual knowledge and skills. Through personalized assessments, more and more skills, characteristics and preferences of people are measurable. We refer to these measurement points as (work performance) ’indicators’. It is our focus to measure the teams that are looking for new talent, and to measure the talent that is looking for a new team, to predict an optimal match between them. In this way, we will eliminate mismatches on the labor market, and ensure the right deployment of talent, anywhere.
Although the current solution is unsustainable, technological developments have made it easier to bridge the gap between employers and employees. In a world of constant technological developments, the question arises whether the prices charged by freelance platforms are derived from a sustainable and efficient business model. Given the emergence of decentralized marketplaces and the trend of disinter- mediation, the business model of freelance platforms might prove inefficient and unsustainable business model. The goal of Work X is to create an economically optimal efficient platform for any type of work with any contract where commissions are minimized and salaries optimized. Additionally, Work X will aim to match supply and demand through a ground breaking technology platform called Work X Platform. The Work X Platform and its various services can be accessed by the token of Work X ($WORK). User have to possibility to interact with the Work X Platform using have the possibility to interact with the Work X Platform with that token.