Navigating the new demands of the workforce has created challenges for business leaders too. With a variety of technology tools supporting their workforce management, performance, compensation, etc., and a heightened demand for qualified talent and focused training, it’s never been more challenging to make informed workforce planning decisions.
Talent and career markets not only change the game in terms of supply and demand, they’re also the essential building blocks to produce the information and insights that can change the game when it comes to making better business decisions. Since we’ve spent years designing and implementing enterprise-wide talent marketplaces for global companies, we’ve seen the power of this data first-hand. More than 80% of our user base populates our talent marketplaces with up to date information, meaning the platforms generate dynamic information across the entire workforce, giving leaders insights into their entire organization in real-time.
The talent and career markets are employee systems of flow and experience, so they get updated regularly, unlike ERP databases for HR transactions. They are marketplaces for employees and business managers to explore options and make connections. And as in any digital marketplace, we are learning all the time by understanding what is being offered (the demand), what is being considered (the supply), and how these forces converge. It is this data that has led us to expand our workforce analytics agenda to include a set of new capabilities geared towards business leaders. Our Skills Management Console, Job Architecture Management System, Workforce Insights, and Ontology API, give business leaders a single source of truth for information, unparalleled visibility into their workforce, and real-time and predictive insights on job and workforce planning