Revolutionizing Workforce Development: How Skills-Based Intelligence Tools Bridge Skill Gaps in Real Time

CXOToday has engaged in an exclusive interview with Mr. Amit Mishra, Founder & CEO, iMocha

How can skills-based intelligence tools help organizations identify skill gaps in real time?

iMocha and similar AI-driven Skills Intelligence tools empower enterprises to construct a skills-centric, data-driven ecosystem. This is achieved through the integration of skills architecture, skills mapping, and skills assessments. By dissecting each job role into primary and secondary skill sets and utilizing skills taxonomies and ontologies, these tools provide a comprehensive overview of an organization’s complete skills repository. Subsequently, employees’ skills are validated through assessments and matched with industry-standard proficiency benchmarks, streamlining the process of identifying skills gaps with precision.

How does this data-driven approach enable proactive workforce planning and talent development?

As enterprises establish skills architecture and taxonomies, they acquire a comprehensive understanding of the skills existing within their organization and those required to address future and ongoing market and technological transformations. Additionally, the utilization of a multi-channel skills validation approach enables them to precisely identify the most suitable talent for specific job roles, thus simplifying workforce planning and facilitating talent development through data-driven insights.

What are the advantages of providing employees with targeted learning experiences?

When employees receive personalized training, it is beneficial for both them and the company. It means they learn things that are directly useful for their jobs and help them stay updated with market trends. This type of learning enhances their job performance and overall productivity. Additionally, it assists them in preparing for promotions or transitioning to different roles within the company. The training is tailored to fit each person’s strengths and weaknesses, making them not only more proficient at their jobs but also happier at work and more likely to stay.

How does skills-based training foster a culture of continuous learning within an organization?

Skills-based training helps build a culture of continuous learning within a company. When employees learn new skills, it demonstrates the importance of learning. Additionally, it assists them in adapting to changes in their jobs and the world around them. People become curious and seek more knowledge, as they can perceive a clear path for career growth. Employees often support each other in learning, and as they improve their job skills, they experience increased job satisfaction and a desire to continue learning. The progress they achieve is measurable, and when leaders also participate in learning, it sets a great example. This type of learning makes the company more flexible and better prepared to face new challenges.

What are some examples of industries or sectors where skill requirements are evolving rapidly?

As technology, such as AI, continues to advance rapidly, every type of business and industry needs to keep pace. This is especially crucial for industries like BFSI, High-Tech, IT/ITeS, and Telecom. For instance, in Banking, FinTech is disrupting the status quo, and there are new regulations to adhere to. In IT/ITeS, companies must constantly update their practices in line with emerging technologies. Similarly, for Telecom, it is no longer solely about phones; they need to operate more like tech companies. Therefore, these industries and sectors must continually learn and acquire new skills to perform well and remain future-ready.

What measurable results were achieved as a result of these initiatives?

The measurable results of these initiatives include:

• Easy deployment of talent
• Enablement of talent supply to meet business objectives
• Knowledge and resolution of skills gaps before they leave any negative impact
• Controlled attrition and improved employee retention rates
• Simplified internal mobility and succession planning initiatives
• Ease in designing and executing talent strategies that can attract, evaluate, and hire qualified candidates
• Increased ROI on L&D programmes, and much more