Gone are the days when technical knowledge and academic qualifications were the only factors considered during recruitment. Nowadays, employers seek candidates who can apply their knowledge to practical situations.
Making data-driven talent decisions by relying on skills can benefit your organization because skills are becoming a new currency. Today, one of the best ways to do so is with a skills intelligence cloud.
Organizations worldwide continue to perform benchmarking as a way of attaining business growth. Regardless of the industry, investing in benchmarking initiatives helps companies enhance their products, performance, and processes while assisting them to stay ahead of their competition.
The year 2022 may not have been the best in terms of the world economy, but as a silver lining, it taught us a few crucial lessons about the importance of skills intelligence.
Imagine that one fine day, your company’s CTO decides to resign.
According to the 2022 Global Benefits Attitudes Survey by WTWCO, 53% of the employees are searching for new opportunities, and there are different factors resulting in this, including pay and bonus, job security, health benefits, and flexible work. However, these components aren’t merely the top reasons employees move away from a company. They can be the top reasons for improving employee retention when offered correctly.
Skills intelligence is an HR-tech architecture that makes the best out of an organization’s skills inventory, skills taxonomies, and market skills intelligence. Leveraging a skills intelligence platform can be a pathway for your organization to attain talent transformation.
What do you think is the best way to reduce the skills gap?
Skills inventory refers to a repository of your employees' skills data containing their educational qualifications, work experiences, certificates, licenses, etc. You can learn more about skills inventory from here.
An organization is as successful as its employees - when employees succeed, the business grows. However, even the most skilled employees often need direction and encouragement to succeed at their job.
Employee skill and knowledge gaps are becoming a challenge and affecting an organization’s overall productivity. According to McKinsey & Company, 87 percent of the companies all over the world know that their employees either have a skill gap or will have one in the coming years.
