The global workforce is rapidly changing, and human capital is—by any measure—the most critical asset any company manages.
Why then do almost all large enterprises inventory computers and laptops down to the serial number, but keep no such account of their people’s skills?
Think about that for a second. Human Capital (or labor) represents more than 70% of the expenses of the average large enterprise, yet these same companies have little or no understanding of their people’s training, experience, and capabilities—all they have is an outdated resume in an almost unsearchable applicant tracking system or HRIS.
I have a simple question: as an HR or Talent professional, what system do you have to inventory your people's skill sets? The VP of IT can simply query a database to get a report on the status and capabilities of your company's computer hardware, but you have little information on the most valuable and critical asset in your company—your people. Why can't you rediscover your talent?
Why does it matter? According to the Government's Bureau of Labor Statistics, the average time spent in a job in the US is now around four years. Just 15 years ago, that number was closer to 12 years. Additionally, more companies are allowing employees and contractors to work from home (almost 25% of professional workers now have that option at least one day a week), and the new "gig" (contractor) economy is creating opportunities for workers to have more flexible schedules. This massive shift will impact your workforce; in fact, it probably already has.
Also consider the constant development of your employees—as they gain new skills and experience, what systems do you have in place to capture this data, to better engage and retain them, and to inform business units of the skills they have, and those they lack?
Talent Rediscovery covers not only the people in your talent universe, but also rediscovers the skills you already have in your organization. It’s the tool you need to keep your people engaged, and make the best use of their capabilities. It also lets you see what skill sets you need to focus on in your hiring, to make sure every department has the talent they need for the future.If you’d like to learn more about Talent Rediscovery, please reach out—we’d love to give you a personal intro!