Guide: 4 essential use cases you can cover with HRForecast

Many global leaders are looking for technology to provide meaningful employee experiences, engage top talent, develop the workforce to help them achieve their potential, and manage employees with actionable data.

It’s a constant process, as automation and machine learning are changing the talent marketplace and influencing changes in workforce skills and competencies.

In this article, we consider four use cases to achieve these goals using HRForecast solutions.

As the digital economy speeds up, the World Economic Forum estimates that by 2025, 50% of workers will need to be retrained, as automation will displace 85 million jobs worldwide and 97 million new jobs will appear adapted to future requirements. New roles in the future are expected to emphasize data analytics, digital expertise, and process automation. Let’s consider the business challenges for the future of work more precisely.

Last year, Gartner claimed that by 2025, 20% of large enterprises will introduce an internal talent market to optimize employee maneuverability. It’s a rather bold statement, given that the level of implementation of these systems is still below 5% among big organizations.

Companies looking for restructuring have quickly found that you can redeploy employees to meet rapidly changing business needs using talent market technology.

The emergence of an internal talent market is much more than internal recruitment or training and development of employees; it’s a transformative innovation that will be a central element of talent management in the future.

Talent marketplace platforms such as smartPeople help organizations achieve outstanding talent mobility, speed up the hiring process, and increase employee engagement.

Every organization should be concerned with whether it has the right people to realize its strategy. Next, it should ask, “Do we have the right people to realize this strategy?” This is where skills management comes to the rescue. What does building a skills management system mean, and how should an organization do it to succeed?

Amazon recently announced over $700 million for its 2025 upskilling program, an internal training initiative to increase customer satisfaction and promote employees. Professional development has become a corporate priority needed to hire, develop, and retain the best talent to continue improving. In addition, Amazon invests in its workforce to identify specific competencies needed for new jobs.

Individualized learning journeys allow organizations to close skills gaps and fill vacancies while maintaining the current workforce and creating opportunities to strengthen and train employees.

Companies can save money by improving the skills of their current employees instead of spending time and money on hiring new employees.

At this point, you know what roles and skills you will need, and you know the current skillset in your company. Skills management platforms like smartPeople offer individual training programs or courses to close identified skills gaps and upskill your workforce in a targeted way. This AI-based solution enables companies to build a future-proof workforce.

Agile career pathing is now fundamental to the adaptation of organizations, and as the world of work grows, the concept of a career is changing radically. Businesses increasingly require people with flexible thinking who are customer-oriented, collaborative, and able to work online as part of teams with many qualifications.

Accept that your team can constantly develop skills by working through iterations and mini-projects. Agility allows one to work quickly in a wholly digital environment, improve cognitive skills for redesign and innovation, and adapt fast to unexpected changes. smartPeople is a platform where you can train your workforce, develop it, and empower it.