Overview

Market Insights, a module within Talent Design, offers a solution by providing real-time insights into company skills, role trends, and benchmarks against market data. By leveraging these insights, companies can ensure their workforce remains agile, competitive, and future-ready.

It shifts the focus from job-centric to people-centric talent management. By integrating internal and external data, it enables organizations to discover critical skills, align them with business goals, and adapt to future demands.

Market Insights is essential for organizations to:

• Stay competitive: Keep pace with industry trends and developments in skills and roles.
• Make data-driven decisions: Align roles and skills with market insights and company strategy.
• Drive growth and innovation: Adapt quickly to changing market conditions and future-proof the workforce.

Benefits

• Holistic market view: Understand the hiring landscape and labor market trends.
• Skills-based roles: Develop dynamic, skills-based roles that evolve with market demands.
• Integrated platform: Seamlessly integrate role libraries with Talent Acquisition and Talent Management.

Personas

HRBPs, Talent development leaders, Talent Intelligence, and Analytics leaders

Key features

• Industry exploration: Identify top and emerging skills and roles across industries, supported by trends and prevalence data.
  

• Role exploration: Explore job role insights across industries, including common, rising, and related skill trends.
  

• Skill insights: Monitor changing patterns of sought-after abilities to guide upskilling and hiring strategies, ensuring competitiveness in the job market.
  

• Future Readiness: Assess a role's future potential based on its dynamic skill requirements, enabling strategic planning and resource allocation.
  

• Benchmark skills for future readiness: Gain a holistic understanding by benchmarking a role’s top skills and their prevalence in your organization against the role’s top skills and their prevalence in the benchmark industry to create and update your role library.

• Skills prevalence benchmarking: Explore the prevalence of skill in selected industries and benchmark it against the prevalence within your company to update your skills taxonomy.
  

Future Readiness

Future Readiness is a metric designed to gauge the resilience and adaptability of a role based on its associated skill requirements. Evaluated on a scale of 0 to 100%, this provides insight into the projected longevity and relevance of a role in the face of the evolving market.

• Scoring:

  1. 60% - 100%: Represents a role (with skills mapping complete) that is anticipated to be highly resilient and in demand in the foreseeable future. These roles are deemed highly future-ready, suggesting long-term viability and growth potential.
  2. 40% - 60%: This represents a stable role in nature. It has moderate potential for resilience and demand in the future. While it may not be as future-proof as roles scoring above 70%, it doesn't face immediate obsolescence or significant demand reduction.
  3. Below 40%: Indicates that the role, based on the selected skills, is highly susceptible to disruption and may soon become obsolete or significantly reduced in demand.

• Usage: Organizations and individuals can leverage Future Readiness to refine the skills taxonomy of their roles and make informed hiring, training, and strategic planning decisions. By understanding the future potential of a role based on its skill requirements, they can better anticipate market trends, allocate resources, and ensure continued growth and success.

• Measurement: Each type of skill trend is given a weightage from 0 to 10 [Rising = 10, Stable = 5 and Declining = 0]. Future Readiness is a weighted average of all skills that are mapped to a role.