Talent Development remains at the top in the list of priorities for business leaders. Establishments around the globe are aware of the talent pattern shift. There is a continuous fight for expertise worldwide, with a need for companies to develop a Skills Profiling Strategy that looks at the need to operate the company in a cost-efficient matter while redefining the business model too.

The answer to effective Talent Development is to synchronise the needs of the employees and the business. “Skills Profiling” will help in this process and thus enable better talent development.

The goals of talent development programs are- to—

• Position Skills Profile with the Help of Organisational Strategy 

Companies are now starting to visualise that their past successes are not guaranteed to carry them into the future, as more disturbances occur. Establishments need to identify the right skills to sustain their digital goals in their people force plan. Without having a clear idea of how digital will impact future operations, individual businesses may struggle to balance the need to hire digital talent, and “build” or develop the ability internally through training. They will also need to continually monitor the skills development of the existing workforce to manage possible obsolescence.

• Systemise Your People Force Based on Skills Ontology 

 Establishments need to have the right people with the right skills, to remain competitive and successful. This includes analysing the existing competencies and capabilities and estimating how they will fit into future business needs. Executing a Skills Gap Analysis between the required HR team, the changing job requirements, and the necessary training will help develop the right skills.

• Recruit Talent based on the Right Skills 

 Hiring teams should place more importance on skills-based interviews — combining the specifications such as knowledge, attitude and competencies. The hiring process should replicate the work environment as closely as possible and must ask questions that accurately assess the needed skills for that particular role. One such technique is to use a behavioural event approach, where candidates can be asked to describe their behaviour in a situation so that the evaluation happens based on actual events.

            Recruitment can leverage useful job profiling to identify candidates who have the right skills for a position. 

• Carry-out Skills-Based Recompense

 To retain the required skills, businesses can shift from a “fixed-pay” salary system to a skills-based one, where the pay progression is linked to knowledge and skill proficiency. This will require companies to correctly measure the employees’ perception of rewards and balance against a cost-benefit analysis that is specific to business strategy. Using Data Analytics, companies can better make the right decisions on reward programs.

• Train as a Long-term Investment

 Companies face a challenge in weighing return on investment for skills training. The way to address this is to move perspectives to view training as a long-term investment in the business’s success. The right training can help people add value to the company and expand their job expectations. By providing useful training, establishments can help their people stay engaged and motivated.

All this ultimately boils down to the need for establishments to create a corporate culture that embraces lifelong learning and flexibility. 

“IYS Skills Profiling” enables the creation of Skills. The Skills Profile is a framework that articulates the different facets of talent of a person or a job.

Connect with us at www.itsyourskills.com to learn more.