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Unleashing the Power of Skill Transparency in the War for Talent

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Talent Management – by Ashley Kontos

Unleashing the Power of Skill Transparency in the War for Talent

By accurately assessing and communicating skills, talent leaders can make better hiring decisions, reduce biases and create a more level playing field.

In today’s competitive job market, companies are scrambling to differentiate themselves from their competitors to attract and retain top talent. In a 2022 survey conducted by Hays, 61 percent of respondents said they were seriously considering leaving their positions, with 53 percent of those surveyed stating their departure would be due to lack of career growth. Additionally, 48 percent stated that no skill-based training has been initiated by their companies to support their growth.

The employee experience is becoming just as important as the salary and benefits offered. Too often, organizations fail to clearly communicate the required skills and path to career progression for a role. Skill transparency provides a mechanism for organizations to focus on the employee experience before an employee signs on the dotted line.

Making skills transparent is an integral step in building a talent ecosystem. Transparency directly corresponds to the ability of job seekers and employers to accurately assess and communicate the skills needed to be successful in a position, including both technical and soft skills. Companies that readily share and socialize these requirements better understand the skills of their existing and potential employees and make informed hiring or promotion decisions, reducing biases and creating a more level playing field for all candidates.

The significance of skill transparency in the recruitment process cannot be overstated. When employers are candid about the competencies required for a particular role, they are more likely to attract the right candidates with the appropriate skills and experience. And it works both ways. Job seekers who are honest and open about their skill sets and proficiencies are more likely to find job opportunities that align with their strengths and expertise.

In addition to attracting top talent, skill transparency can improve upskilling and retention processes. With an understanding of the existing skills of employees, employers can implement and support a skills-based talent strategy to retain top performers, ensure employees have the tools to succeed in their roles and provide them with the knowledge and support to continue growing their careers.

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