The job description is becoming inadequate as a tool to identify, acquire and retain great talent. In its place, advanced organizations are turning to a skills-centric approach to address these key challenges and to align training and development strategies to the growth the business.
Deloitte defines a skills-based company as one that relies on the skills and expertise of its employees to drive success. These skills encompass “hard” or technical skills (such as coding, data analysis, and accounting); human capabilities or human skills (such as critical thinking and emotional intelligence); and potential (including latent qualities, abilities, or adjacent skills that may be developed and lead to future success).” A skills-based company is a company that relies on the skills and expertise of its employees to drive succes.
Why HR Tech Businesses Need Robust B2B Data
But where does the required data come from to support such a skills-based approach?
HR Tech providers are in the prime position to support their customers as they move towards a skills-centric view of their workforce. And the benefits of embedding robust and comprehensive skills data, such as Rhetorik’s ProfileFinder, into their platform, to deliver on the promise of the skills-based organization, include::
- Skills-based hiring: B2B data provides a wealth of information about potential hires, including their skills, experience, and even their past performance.
- Enhanced skills-based Reporting and Analytics: B2B profile data provides valuable insights into key HR metrics, such as employee turnover, time-to-hire, and diversity statistics. This information can be used to make informed decisions about HR strategy and improve overall HR performance.
- Better understanding of the Talent Market: B2B data can provide HR professionals with insights into the broader talent market, including trends in compensation, skills, and hiring demands. This information can help companies stay ahead of the competition and attract the best talent to their organization.
- Improve skills-based employee retention: By tracking employee data and analyzing it, HR professionals can identify areas of concern and take steps to improve employee satisfaction and retention. This could include improving benefits, providing more opportunities for career development, and addressing any issues that may be affecting morale.
- Skills-based workforce planning: With a skills-based approach to workforce planning, organizations can plan for the skills they need, where they can get them, and the type of tasks for which those skills will be required.
- Increased Efficiency: B2B data can streamline HR processes, saving time and reducing the administrative burden on HR professionals. For example, by automating tasks like resume screening and candidate tracking, HR teams can focus on more important tasks, such as conducting interviews and making hiring decisions.
- Skills-based performance management: A skills-based performance management system allows businesses to understand the distribution of skills and talent throughout the workforce, meaning that decisions about hiring and promotions can be made with confidence.
B2B Data Provider for HR Tech Businesses
HR Tech businesses are in the prime position to deliver for their customers on the promise of the skills-based organization. They have the platform and the customer relationship and the skills needed to transform their customers’ businesses. The remaining ingredient to add is a B2B skills data source that is current, clean, comprehensive and compliant, and that provides the best AI models to further augment the source data. The HR Tech vendors that bring this together best will be delivering high value for their customers, and high growth for themselves.