Many global leaders are looking for technology to provide meaningful employee experiences, engage top talent, develop the workforce to help them achieve their potential, and manage employees with actionable data.
It’s a constant process, as automation and machine learning are changing the talent marketplace and influencing changes in workforce skills and competencies.
Today, companies increasingly consider integrating technical solutions that enable internal talent mobility, employee upskilling, and workforce planning. Some main purposes of these HR technologies are:
- Unveiling current skills and detecting skills gaps in the workforce architecture
- Closing skills gaps through targeted upskilling
- Keeping employees engaged through transparent career opportunities and agile career pathing
- Facilitating the work of HR and business through people analytics and workforce planning.
In this article, we consider four use cases to achieve these goals using HRForecast solutions.
Smart work for a better world
As the digital economy speeds up, the World Economic Forum estimates that by 2025, 50% of workers will need to be retrained, as automation will displace 85 million jobs worldwide and 97 million new jobs will appear adapted to future requirements. New roles in the future are expected to emphasize data analytics, digital expertise, and process automation. Let’s consider the business challenges for the future of work more precisely.
Internal talent marketplace
Last year, Gartner claimed that by 2025, 20% of large enterprises will introduce an internal talent market to optimize employee maneuverability. It’s a rather bold statement, given that the level of implementation of these systems is still below 5% among big organizations.
Companies looking for restructuring have quickly found that you can redeploy employees to meet rapidly changing business needs using talent market technology.
The emergence of an internal talent market is much more than internal recruitment or training and development of employees; it’s a transformative innovation that will be a central element of talent management in the future.
Every organization should be concerned with whether it has the right people to realize its strategy. Next, it should ask, “Do we have the right people to realize this strategy?” This is where skills management comes to the rescue. What does building a skills management system mean, and how should an organization do it to succeed?
Skills management helps you bridge the gap between your employee’s current skills and future job roles. Skills management includes the following stages:
- Analyzing and forming future skills and jobs. Based on insights from external data, you can gain knowledge of future job profiles and skills related to your organization and grow your workforce to fit those profiles. You can integrate labor market trends into your skills management strategy by conducting competitor benchmarking.
- Providing skills and workforce transparency. By applying HRForecast tools, you can reveal the current skills of your employees and get full recency of your workforce’s capacity and capabilities. You can monitor the distribution of skills, identify skill gaps, and proactively respond to changes in labor supply and demand.
- Upskilling your workforce. Continuous and tailored workforce upskilling is essential to respond to business challenges and stay competitive. You can close skills gaps and effectively improve your employees’ competencies with selected learning recommendations and development goals using a complete library of future skills provided by smartPeople.
Amazon recently announced over $700 million for its 2025 upskilling program, an internal training initiative to increase customer satisfaction and promote employees. Professional development has become a corporate priority needed to hire, develop, and retain the best talent to continue improving. In addition, Amazon invests in its workforce to identify specific competencies needed for new jobs.
Individualized learning journeys allow organizations to close skills gaps and fill vacancies while maintaining the current workforce and creating opportunities to strengthen and train employees.
Companies can save money by improving the skills of their current employees instead of spending time and money on hiring new employees.
At this point, you know what roles and skills you will need, and you know the current skillset in your company. Skills management platforms like smartPeople offer individual training programs or courses to close identified skills gaps and upskill your workforce in a targeted way. This AI-based solution enables companies to build a future-proof workforce.
Agile career pathing
Agile career pathing is now fundamental to the adaptation of organizations, and as the world of work grows, the concept of a career is changing radically. Businesses increasingly require people with flexible thinking who are customer-oriented, collaborative, and able to work online as part of teams with many qualifications.
Accept that your team can constantly develop skills by working through iterations and mini-projects. Agility allows one to work quickly in a wholly digital environment, improve cognitive skills for redesign and innovation, and adapt fast to unexpected changes. smartPeople is a platform where you can train your workforce, develop it, and empower it.
Considering a specific example
One of the goals of HR is to identify the right talents with the right skills, ensuring effective workforce planning focused on future requirements and challenges. Just as future employees need to be recruited, existing employees need to be trained and their skills developed.
The HR team of the leading Austrian telecommunications company A1 started to solve these problems at an early stage of their workforce planning strategy. The HRForecast team launched a project for developing staff into future data scientists and data engineers.
A1 realized a need to enable its team members to take care of development using efficient and state-of-the-art technology. With this approach and with the support of artificial intelligence, they helped business units. Therefore, the entire company focused on the employee development and career growth steps.
At the management level, A1 can strategically analyze skills data from the human resources department and the business perspective:
- Get an idea of the future orientation of the workforce
- Check organizational readiness
- Create a basis for a flexible and networked workforce.
Smart working could shape the future of work. Many companies need tools to help them adapt their business and workforce strategy and build future skills in line with market trends. Connect to the HRForecast team for more insights and solutions to tailor your workforce to your business and hiring requirements and develop talents of the future.