Today's skills gap has every business leader
thinking about how they can better develop
and reskill workers. But, to effectively
connect people with opportunities,
organizations first need to solve a
fundamental skills data problem that exists
at the core of their workforce technology.
There are multiple descriptions for every
skill that exists, and skills are constantly
changing--with new ones emerging and others
becoming obsolete--making it impossible to
keep up with the administration and
reconciliation of this unstructured data
set. Workday found that common skills can
have up to 20-plus synonyms, which the
skills cloud consolidates to reveal the
relationship between skills--for example,
showing that "patient management" is related
to "urgent care" and "clinical trials" for
Workday will be able to build out talent
marketplace functionality that would enable
customers to more effectively connect work
owners with skilled workers, to reimagine:
How to engage existing workers and apply their skills and knowledge--The skills cloud could help employers connect existing employees with more relevant learning and development opportunities. For instance, an employee looking to broaden his public speaking skills could find targeted learning content on oration or presentation to help further develop this capability.
How to seamlessly, and immediately, deploy talent when and where it is needed--As organizations start to deploy new talent acquisition strategies to keep up with the rapid pace of change in business, they could use the skills cloud to source gig (contract) or external talent for an open role. For example, a marketing manager in need of a video editor for an event would be able to consider multiple external candidates--all proven workers that have previously provided services for and are familiar with the company.
"Nearly every organization wants to develop and reskill their workforce to grow their people and their business, but they lack a fundamental understanding of the skills they have and the skills they need," said Cristina Goldt, vice president, HCM products, Workday. "Our skills cloud tackles this issue head on with machine learning algorithms that bring calm to the chaotic language of skills. This will ultimately help customers connect skills to people in a more meaningful way to improve how they get work done, develop existing workers, and allocate talent to better meet evolving business needs."