Employee Retention Top Priority Amidst Ongoing Labor Shortage; Skills-based Approach Offers Solution

Phenom released new guidance and consultative action plans for organizations, enabling them to efficiently implement and adopt workforce intelligence technology that immediately improves employee development and retention with a skills-forward approach.

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Phenom released Workforce Intelligence Guide and Maturity Assessment to provide personalized recommendations for retaining employees with a skills-forward approach. Employees retention remains a top priority amidst the ongoing labor shortage. (Graphic: Business Wire)

Based on experiences implementing unique talent management strategies for global enterprises, the Workforce Intelligence Guide: A Skills-Based Deployment and Adoption Plan details how companies can successfully approach workforce intelligence specific to their goals and maturity state. In addition to the guide, Phenom is offering complimentary Workforce Intelligence Maturity Assessments and personalized plans for talent management teams to validate and implement the appropriate technology to drive growth and retention at their organization.

Talent development, retention, and workforce planning are critical for all organizations regardless of industry, location, or size. A myriad of factors, including new skills needed for disruptive technologies like AI, fierce economic headwinds, and baby boomers retiring en masse, have made workforce planning a top priority for HR leaders in 2023. But the process of identifying skills and executing workforce planning is overwhelming — and there is no one-size-fits-all approach to getting started. Workforce intelligence introduces the right processes, data, and technology that make it possible to move forward fast.

Skills Ontology Powered by AI

Identifying the skills available within an organization is vital to unlocking how employees can grow within an organization. Historically, creating a skills ontology has been a cumbersome, time-consuming and dated process. Without a skills architecture, it is difficult for leaders to understand what skills are available to close critical gaps in the business.

Today, AI-driven ontologies accelerate the process of building a dynamic skills architecture while offering in-depth insights that scale with a growing workforce. To unlock a breadth of skills data and drive employee development and retention, Phenom’s Workforce Intelligence Guide empowers teams to:

• Assess their current state of talent management maturity
• Gain clarity on the HR technology landscape and how that aligns with their current state
• Articulate how a connected skills-forward strategy can drive alignment throughout the organization

How to Get Started with Workforce Intelligence

To simplify the process of building a skills architecture, Phenom developed the Workforce Intelligence Maturity Assessment. After a talent management team completes a brief questionnaire, Phenom experts will build a personalized action plan customized for the specific enterprise that details:

• Where their organization falls on the talent management technology curve from a maturity perspective
• Specific steps to effectively implement, deploy and adopt the necessary workforce intelligence solutions
• How to justify budget and receive executive buy-in for new technology

“Organizations taking on the herculean task of building a skills ontology without AI are destined to fail,” said Lora Kantorovich, Head of Strategy, Talent Management Solutions at Phenom. “They cannot react fast enough and both employees and the business will suffer. The right AI makes the task manageable, efficient, and scalable for long-term development and retention.”

Upskilling Talent with Phenom Workforce Intelligence

In addition to strategic guidance, Phenom offers AI-powered solutions to ensure HR teams get real time talent intelligence for proactive retention and growth. Workforce Intelligence provides critical context that drives talent mobility and career development throughout any organization by leveraging Phenom’s proprietary skills ontology to deliver meaningful results for employees, managers, and talent managers through:

• Career pathing using a robust dynamic role architecture
• Upskilling opportunities through online learning, gigs, and mentoring
• Organizational skills intelligence to identify gaps and plan for future needs
• Employee Relationship Management (ERM) that enables talent management and people managers to promote workforce and team development plans
• Succession Planning by identifying and supporting high-potential employees
• Actionable team intelligence via People Manager

With Phenom, candidates find and choose the right job faster, employees develop their skills and evolve, recruiters become wildly productive, managers build stronger-performing teams, HR aligns employee development with company goals, and HRIS easily integrates existing HR tech to create a holistic infrastructure.

To read Workforce Intelligence Guide: A Skills-Forward Deployment and Adoption Plan, click here.

To take the assessment and receive a personalized plan, click here.

To see Phenom Workforce Intelligence in action, request a demo.

To learn about the data models that power Phenom AI, register for AI Day.

About Phenom

Phenom has a purpose of helping a billion people find the right job. Through AI-powered talent experiences, employers are using Phenom to hire employees faster, develop them to their full potential, and retain them longer. The Phenom Intelligent Talent Experience platform seamlessly connects candidates, employees, recruiters, hiring managers, HR and HRIS — empowering over 500 diverse and global enterprises with innovative products including Phenom Career Site, Chatbot, CMS, CRM, AI Scheduling, One-Way Interviews, Campaigns, University Recruiting, Talent Marketplace, Workforce Intelligence, Career Pathing, Gigs, Mentoring, and Referrals.

Phenom has earned accolades including: Inc. 5000’s fastest-growing companies (4 consecutive years), Deloitte Technology's Fast 500 (4 consecutive years), five Brandon Hall ‘Excellence in Technology’ awards including Gold for ‘Best Advance in AI for Business Impact,’ Business Intelligence Group's Artificial Intelligence Excellence Awards (3 consecutive years), and a regional Timmy Award for launching and optimizing HelpOneBillion.com (2020).

Headquartered in Greater Philadelphia, Phenom also has offices in India, Israel, the Netherlands, Germany and the United Kingdom.

For more information, please visit www.phenom.com. Connect with Phenom on LinkedIn, Twitter, Facebook, YouTube and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230912209884/en/

“Organizations building a skills ontology without AI are destined to fail,” said Lora Kantorovich, Head of Strategy, Talent Management Solutions at Phenom. “The right AI makes the task manageable, efficient & scalable for development and retention.”