Skills Inventory

Skills Inventory management in business- Why is it challenging and what is the resolution

Does the Skills Inventory Management have a clear understanding of the people’s skills, and where the gaps are?

Well, I guess the answer is no. 

Even though the cloud, digitization, and the IoT allow businesses to gather and analyze all kinds of data, some organizations today have a system to track the skills they have. Very few even apply that knowledge to weigh what skills they lack, both now and in the future. This becomes a challenge—given that in tomorrow’s automation- and data-driven workplace, talent will be scanty, and the needs of the business will change very often.

Skills Inventory Management and the Challenges Faced—

Skills Inventory is a very crucial “Data Resource” for companies. Knowing what skills candidates possess and the proficiency levels in them / how they are deployed / what skills are available and what skills are deficient and so on, are all valuable information that immensely impacts businesses.

Skills Inventory management is even more imperative in the knowledge economy. Companies, traditionally known for in-depth knowledge such as–Information Technology, have always felt it necessary to manage skills properly. 

Maintaining skill inventory is always a challenge. Not sure how many companies have such a list.

Reasons why maintaining Skill Inventory is a challenge—

  1. Skills are emerging faster than before; and 
  2. addition and way-out of employees is almost constant.

Resolution—We need an uncomplicated framework and a tool for acquiring and maintaining the skills of employees in the establishments. It must be simple to use and effortless to create and maintain. 

Next, this structure should be able to account for the changes in the skills prospect, i.e. be current with the latest skills available in its shell.

Finally, the Skills Inventory should be able to make employees feel associated with it. Feel an involvement with it voluntarily and contribute to its maintenance.

It’s Your Skills can pitch-in—-

It’s Your Skills provides solutions to businesses for maintaining their Skill Inventory

Skills Profile framework is offered to create skills profile—of Jobs and Employees. It maintains a Skills Library that is probably the most comprehensive and exhaustive one of its kind.

The Skill Profiles of Employees can be collected at the organization level to create Skills Inventory. A regular update, whether by way of the addition of new employees and their skills or new skills developed by employees—can be easily added to ensure that the skills inventory is up to date and relevant.

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