RentYourSkills

Inspiration

Employees are not just any resource, they are human resources. Employees are the company, without them the company does not exist.

What is the real problem that we want to solve

In addition to solutions for the business itself, the employer must support its employees in any difficult situations, including economic crises, pandemics, seasonal work or any other company real life situation, like financial difficulties. Something must be done to find human resources or not to lose employees during those difficult times in a company's life.

What it does

Our team has identified that a good solution would be for a company with excess resources to temporarily share (rent) them with other companies that accuse the lack of similar resources. Ensuring a well-developed formal framework, with well-implemented and impossible-to-avoid business mechanisms, RentYourSkills Platform would guarantee the smooth running of human resources sharing between companies participating in such an ecosystem. The RentYourSkills platform we are proposing, assists and ensures the perfect match, the formalization of the relocation of resources in one step, and all powered by AI and trusted by blockchain. Simply put, RentYourSkills will be a real-time platform, for B2B, where companies can rent personnel to one another, for a pre-determined period, across EU (and can be extended):

• the companies in need will list their available positions for rent
• the companies having need of workforce will try to match the listed opportunities This business model will assure a smooth transition and onboarding and the normal recruiting process will be just a one-step process as candidates will be borrowed from known companies and they will return to their company at the end. Of course, there could be established rules for a candidate to accept moving definitively at the borrowing company with compensations for the renting company. Our proposal includes also challenges for legal inter companies and HR legal agreements between main employer and secondary employer and main employer and employee (in our opinion reallocation should be only after the explicit approval of employee). For job description and matching we intend to use European Skills, Competences and Qualifications (ESCO), making the idea to be replicable in different contexts.

The value of RentYourSkills platform after the crisis

RentYourSkills platform starts from the assumption that reallocating the workforce is cheaper and more motivating when you have an excess (as example during low-demanding season) than to fire and re-hire again. During crises and for other voluntary activities, companies together with their employees could decide temporary reallocation (in fact a donation in workforce). Gains that the platform will bring to the companies:

• no more worries during difficult times
• no more long searching and time-wasting periods to search for the right candidate
• no more expensive cost paid to head hunting, recruiting or outsourcing companies
• seamless profile matching process, based on AI
• trust on the companies present on the platform assured by a blockchain technology implementation including smart contracts (the companies will receive grades based on the quality of the personnel they rent, based on how they accommodated the new people, based on how they respected the agreements) At the same time, great benefits will be provided to all parties involved, primarily for employees, but also for companies themselves and for society together with its institutions. Scalable, the same solution can be used just as effectively in situations with specific, hi-specialized and limited resources, too.

How we are building it

Our value proposition is an innovative dedicated platform, that assists and ensures the perfect match, the formalization of the relocation of resources in one step, and all powered by AI and trusted by blockchain.

The solution

The RentYourSkills platform is in a stage of analysis and design. Being an under development blockchain-based platform, we set out the following:

• Identify the most suitable consensus (Blockchain) mechanism and a suitable platform
• Design the architecture. Use of open standards.
• Start the configuration
• Build the APIs
• Design Admin and user interface. User feedback implication in designing process.

What we have done during the weekend

We have prepared the Presentation and concretization of the idea. We analyzed what kind of collaborations we should generate to carry this process forward, who are our targeted clients/partners, what will be the impact to society if the idea is implemented at scale. We defined the business model. We prepared a first business plan draft, identified the costs and sources of income and a funding strategy. BP Figures:

• Set UP Costs (CAPEX): 18.000 Eur
• Revenue: 1st year: 14.100 Eur, 2nd year: 30.000 Eur, 3rd year:50.000 Eur
• Costs: 1st year: 12.400 Eur, 2nd year: 19.400 Eur, 3rd year:28.400 Eur
• Net Profit: 1st year: 0.000 Eur, 2nd year: 5.500 Eur, 3rd year: 9.000 Eur

The necessities in order to continue the project

Team enlargement with experienced professionals in HR, AI and blockchain developers. Support from partners. Funding.

Challenges we ran into

• Data protection regulation,
• Make it as understandable as possible for companies and vulnerable employees
• Choosing the right blockchain infrastructure,
• Legal HR aspects related to the contract formalization and automation related to an innovative solution like RentYourSkills platform,
• Partnerships for the goals
• How to involve the authorities in this project, considering the benefits they could have (incoming from taxes, no costs with unemployed work power)

Accomplishments that we're proud of

We are convinced that we have identified a solution to ensure the continuity of the companies' activity in crisis situations or in seasonal periods with an unforeseen impact on the development of specific activities. Together with the companies’ business continuity assurance, we solve the safety of their employees from the point of view of ensuring the continuity of their income. By expanding the addressable area, by attracting as many companies as possible in this platform, the degree of availability and insurance of the labor force exchange increases.

What we learned

Being collaborative. We have learned from this that through a joint effort sustained by a supportive and constructive environment, solutions that can have a positive impact on the lives of citizens and ultimately society, can be efficiently identified. In this case, the solution we have proposed can support the smooth running of the activity of some categories of companies that use interchangeable labor, thus ensuring the comfort of employees.

What's next for RentYourSkills

• Continue the preparation process with own resources and looking for funding.
• Team enlargement. Best people = Best solution. Finding partners.
• Finalizing the architecture and start the MVP implementation. Prioritization (customer impact/effort optimization)
• PoC validation
• Next phase funding