We've been predicting the emergence of talent auctions for some time now. They are here in a very significant way. It is a project based market in which contractors and employers can find each other and negotiate employment contracts. The basics are summed up in the three documents that serve as the legal foundation of the Marketplace. The core business model involves taking a fee from both sides of the transaction.
Independent contractors pay a fee for advertising their services.
Employers pay a percentage of the value of the total contract with a contractor. Monster retains the rights to use all of the data from both sides as they see fit. Beneath the legalese is an extremely well considered attempt to redefine the employment market . This is no small compliment from us. We have long maintained that size is Monster's most crippling feature and the reason that innovation has not been their long suit.