REDWOOD CITY, Calif., Nov. 16, 2016 /PRNewswire/ -- TalentSky, the first professional network to introduce a standardized skills language for employees and employers, announces skills-based advanced analytics with TalentSky Workforce Science. Going far beyond the concept of a standardized "skills library," TalentSky's Workforce Science also delivers universal proficiency definitions with data intelligence that grows with the network. TalentSky Workforce Science fuels dynamic, real-time skill proficiency data and actionable workforce insights for enterprise customers to make strategic talent-related decisions and close the skills gap that afflicts most organizations.
The skills gap is the difference between the skill proficiencies available within an organization's workforce, and the skill proficiencies needed for that organization to succeed. The skills gap is widening at global, national, and organizational levels, and is a critical topic for executive leadership. Bersin by Deloitte's survey—Advancements in Leadership, Talent and Innovation ( May 4, 2016)—revealed that 88 percent of CXOs believe the rapid pace at which technology and the markets are changing creates a skills gap at their companies. Nearly half of these same executives also feel the gap is not being adequately addressed (44 percent of CXOs). Since introducing TalentSky 1.0 in February 2016, the company and its lighthouse customers—which include top U.S. enterprises such as eBay, IBM, Target, Foot Locker, Coca-Cola, and SAP, among others—have been collaborating on how to optimize the approach to narrow the skills gap in each organization. TalentSky's investment in TalentSky Workforce Science demonstrates the company's commitment to help each customer solve its skills gap by providing highly valuable, constantly evolving skills-based data and insights. The resulting real-time visibility into skill supply and demand informs talent decisions including hiring, professional development, team building, and performance management. "The current employment system is static and does not provide the real-time skill signaling needed by employers to manage their workforces. Line of Business and HR departments are struggling to identify the right talent to fuel business growth. The contract between employers and employees is being rewritten for a win-win: employees want and expect professional development to better support their employers' changing skills demands. Employers are calling for a data-driven approach to skills and skill proficiencies as the missing ingredient to actionable information on workforce performance," said Rick Devine, TalentSky's CEO and Founder. TalentSky Workforce Science encompasses the development of new data science capabilities, especially in advanced analytics utilizing TalentSky's proprietary algorithms. Through TalentSky Workforce Science, the enterprise professional network generates insights that, for the first time, can be applied to individualized hiring and development decisions, as well as inform large-scale company strategic talent planning and development.