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Employee skills data are the digital currency for business growth & data-driven decisions

Skills data are the digital currency in which your organization should invest

Heena Ruparel / December 15, 2022
Digital HR Insights Community

You have probably heard of the idea that “people and their skills are the most valuable assets of any business”, but have you ever considered the true value of skills data?

As the working environment evolves, you should understand what skills your workforce has today, how to distribute the right skills and what skills you need in the future. With Workday Talent and Performance management, you can continuously detect, manage, and grow the skills you need to fuel your talent supply chain, driving business agility, transformation, and growth.

Do you know what skills you have and which skills you need in the future?

Gartner HR Research found that 58% of the workforce will need new skill sets to do their jobs successfully in coming years. What does your organization need to do to ensure it has workers with the skills needed? For a start, you can think of how you manage your people´s skills today. Do you have the right tools that help you understand what are your workers´ skills? Consequently, you should consider if your tools enable informed decisions to manage the skills, upskill your talents, plan their career development, procure talents, and have visibility into the talent pipeline and talent mobility.

In a recent study on talent development and employee mobility, Workday found that 1 in 5 workers didn’t know if their employer had any idea what their skills were.

To build a resilient future-proof business, organizations need insight into people’s skills. Once your organization has the actual skills data about your workforce, it opens valuable insights and opens a door to talent optimization. Technology can also help to facilitate a resolution of challenges that typically occur during the creation of the business case for insightful skills data. For example: How to define skills? How to get enough skills data? Should workers be allowed to self-identify skills? How to use skills data once you have it?

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What the Workday Skills Cloud has to offer?

Workday Skills Cloud can help your organization to understand what skills you have and what skills you need. Machine learning and artificial intelligence are used to infer, validate and verify worker skills, surface skills trends and find the gaps. Also, ways to fill the gaps are indicated, which will help you gain a deeper understanding of the skills and capabilities you need. As a single source of truth, it enables you to put skills at the centre of people strategy. With the power of talent mapping, skill supply can be matched to skill demand which helps to forecast the skills for the future. Once you get the right talent scenario in hand, then the plan can be executed directly in Workday.

In a nutshell, those are some of the concrete examples of what Workday´s Talent and Performance capabilities enable you to do:

  • Personalize development plans to upskill and reskill existing resources
  • Automatically generate talent acquisition targets and recruiting campaigns to acquire new resources
  • Boost career mobility
  • Create rewards and recognition programs to support continuous learning
  • Empower managers to know and grow their team skills
  • Equip employees with skills of tomorrow
  • Match the employees with the internal job openings based on their skills. Improving job rotation and possibilities for internal career advancement
  • Collect feedback on the critical skills of the employees
  • Assist employees in their career planning by suggesting learning courses or gigs where they can develop the right skills

This is where insight and ability will empower employees to determine their career paths and help your organization flourish above and beyond.

Tietoevry´s team of certified Workday consultants is ready to provide you with guidance on your talent and performance management journey. Do not hesitate to reach out to hannele.koskenmaki (at) tietoevry.com for more information.

Heena Ruparel
HCM Solution Consultant

Heena Ruparel knows the HR business processes from both HR and Workday consultancy perspectives. In addition to business process optimisation, she is specializing in the data stream, and user support and has extensive knowledge of Human Capital Management. Heena is ready to help you on your HR digitalization journey.

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Heena Ruparel

HCM Solution Consultant

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