An overview of Skills-Based Talent Management – Importance and more

Worldwide the economy is experiencing huge transformations. This resulted in the need for upskilling and reskilling the global talent management, which has took on a renewed demand of urgency. Attaining success with the help of these changes needs too many shifts in reimagining about the hiring as well as the employee development are done.

The economic toll of the corona virus pandemic has left more than 140 million people out of work and another 1.6 billion at a risk of income loss. Unfortunately, more jobs were lost, which can’t be returned. At the same time, specific firms and industries like logistics and manufacturing can’t recruit quickly enough. Shifting to a skills-focused approach is a needful solution for the talent management professionals to an evolving workforce dilemma.

All these global fluctuations lead to the demand of skills-based talent management, which plays a vital role in hiring, training and development of an employee. In this article, let’s have a look at the need for skill-based talent management and why is it essential.

Skills-Based Talent Management

In contrast to a traditional talent management path, the skills-based talent management is not dependent on a person’s position or title. Instead, it focuses on what people can do and how their skills can reap the required benefits from an organization. Place where one will excel, and build training plans to help employees learn the latest and on-demand skills by also improving the current available skills.

For instance, job descriptions for talent management professionals may consist of “knowledge of marketing principles.” A skills-dependent talent management program may need that employees list certain software proficiency such as Photoshop and Illustrator.

In this manner, skills-based global talent management is very useful for the companies to be more agile by offering a wider pool of available resources to actively meet the transforming business objectives and priorities.

Skills-based talent management also creates a simplified approach for the firms to apply a matrix structure where the professionals will report to multiple managers. This kind of path is highly effective as it gives the employees to leverage their unique knowledge and skills without being limited by reporting relationships.

· Identification of the skills set of data that will meet the demands

The quality skills set of data are highly required to be more effective. Several of skills set of data that are present at each level, which include resumes or self-reported skills that are available in the profiles are inconsistent and are not trustworthy. Several firms that initially map a consistent, appropriate skills set to the already present jobs will possess the ability for identifying the skills, which are required at present. This will also empower these firms to handle the talent for business capabilities in a manner that are not traditionally available.

One can leverage their existing global talent management architecture to do things swiftly and efficiently with the perfect skills set of data. This is the main reason several firms with less job data quality or with immature job architecture will decide to freshen up their job catalogs before kick starting their skills initiative.

· Facilitate the latest and emerging career paths for the employees

Many large firms around the globe have understood the need to upskill their current talent management professionals. And to meet it they have invested millions, a few have even invested billions to make their employees career-ready for transformations and also for “future proofing” them by boosting them with the necessary skills to adapt with the transforming workforce dynamics.

· Suggest for talent management certifications

One of the best way an employee can upskill oneself is by doing a certification, which is global-recognized. The talent management professionals who are hunting for higher positions it is highly recommended for them to combine their skillset with a required level of certain relevant work experience and with a valid certification.

One such certification Talent Management Practitioner (TMP™) certification, which is provided by the Talent Management Institute (TMI), it is a perfect credential that proves the potentiality and knowledge of the certification holder as a modern practitioner in the current market.

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