Artificial intelligence has been a game-changer in a number of industries, especially recruiting. AI-powered talent intelligence has allowed recruiters to simultaneously optimize and automate the tasks that are the most time consuming and prone to human error and bias, and a recent Harvard study has shown that it delivers much better results–all in 90% less time than was previously needed.
This optimization has created a unique time and money-saving opportunity for companies–namely turning inside their company to find, optimize, and promote talent from within. Doing so not only drastically cuts the common risks and onboarding periods associated with new employees, but a study by the Wharton School of Business found that even though external hires tend to have more education and experience than internal hire, they perform worse and are 61% more likely to be fired. Long story short: internal mobility is the key to optimizing your company’s performance.
According to People and Organization Partner at PwC Ricardo Donelli there are four key factors driving internal upskilling efforts: increasing job automation, decreased talent availability (caused by lack of job training in cutting edge skills), decreased mobility of skilled labor, and a rapidly aging workforce. These four factors directly lead 74% to CEO’s to worry about a lack of critical skills in their organization.
And CEO’s are not the only ones concerned – 51% of employees are concerned that a lack of critical skills will impact their career development, 22% are worried it will lead to job loss, and 21% fear that they won’t be able to meet the demands of the future workplace.
To address these needs, talent intelligence software can work together with training programs such as PwC’s to instantly identify talent that is ready for promotion and upskilling, and then connect them to training programs that are both customized to their own professional development and the company’s needs, creating near-instant business results and having a positive effect on a company’s talent strategy ROI.
To learn more about the results delivered by talent intelligence and a sound internal mobility strategy and to see several case studies, you can view the webinar at https://reg.sapinsideronline.com/reg/2131/1862/SAP/.