By | Christian Vetter | Caroline Styr | Julius Bähr | www.myhrfuture.com
In this article, we’re going to explore the application of talent market analytics to HR. Working with HRForecast, we’ve analysed a plethora of macroeconomic data to reveal insights about the future of HR, including which skills are important, what the key trends impacting HR are, and how the pandemic has impacted the requirements for HR professionals. We’ll take a look at:
The top ten trends impacting HR roles and skills
How these trends have evolved over the last 18 months
How different industries are hiring against emerging roles and skills
How HR can prepare for a digital, data-driven future
But before we dive in, let’s take a closer look at why organisations should build a skills-based view of the workforce, what a skills-based view is, and how talent market analytics can help.
The pace of change facing organisations today mean that job roles and job descriptions very quickly become outdated. Research from Gartner has found that 40% of employees are frequently completing tasks outside their job description. This finding suggests that roles are ill-designed to capture the skills required for today’s workflows.
Adopting a skills-based view of the workforce
Instead of depending solely on job descriptions, a skills-based view of the workforce allows organisations to maintain a more nimble, agile view of the workforce. Thanks to the accelerating maturity of AI, machine learning and big data, it is much easier to keep tabs on skills. These technologies can be used to pull together all the employee skills data at your organisation’s disposal – both internal and external – into one place. The aim here is to build a skills taxonomy.
This type of view provides business leaders with visibility into new and emerging skills, which then allow organisations to respond quickly and effectively when skill needs change.
The challenge is, currently skills data is often spread inside and outside an organisation, making it difficult to have one single view of skills in your company. Research from Degreed, for example, shows that the most up-to-date skillset of any individual can exist in multiple locations at one time, only one of which is the internal HR system.
Enter: Talent Market Analytics
Talent market analytics is on hand to support organisations to make sense of the wealth of dispersed data on skills. Talent market analytics solutions can provide access to a variety of data sources, including: