Skills-Based Employment
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The document outlines a webinar series by Workday focused on optimizing talent through skills-based employment, emphasizing the need for organizations to adapt to changing job market requirements. It discusses the transition to skills-based hiring practices that prioritize capabilities over traditional credentials to create a more equitable job market and address skill gaps. The presentation features insights from various speakers and highlights the advantages of implementing skills-driven talent strategies within organizations.
Skills-Based Employment
- 1. February 23, 2021 Optimize Talent through Skills-Based Employment
- 2. Optimize Talent through Skills- Based Employment Looking Forward with Workday is a webinar series designed to give you insight into how your organization can do more with Workday. This series shares the ways we support how you manage your people and your business, with a focus on enabling an agile and digital enterprise. Customer stories, product demonstrations, specific user cases, and solution roadmaps highlight how Workday technology enables resilience as our customers respond to change.
- 3. Help Slides Media Player Resource List Q&A Housekeeping Items Speakers Survey Housekeeping Items
- 4. This presentation may contain forward-looking statements for which there are risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, Workday’s business results and directions could differ materially from results implied by the forward-looking statements. Forward-looking statements include any statements regarding strategies or plans for future operations; any statements concerning new features, enhancements or upgrades to our existing applications or plans for future applications; and any statements of belief. Further information on risks that could affect Workday’s results is included in our filings with the Securities and Exchange Commission which are available on the Workday investor relations webpage: www.workday.com/company/investor_relations.php Workday assumes no obligation for and does not intend to update any forward-looking statements. Any unreleased services, features, functionality or enhancements referenced in any Workday document, roadmap, blog, our website, press release or public statement that are not currently available are subject to change at Workday’s discretion and may not be delivered as planned or at all. Customers who purchase Workday, Inc. services should make their purchase decisions upon services, features, and functions that are currently available. Safe Harbor Statement
- 5. Workday Confidential Nancy Weitl Senior Director, Technology & Social Partnerships Workday Marieke Shukla Principal Solution Marketing Manager Workday Mary-Kate Morley Ryan Principal Director, Future Workforce Practice Accenture Stephanie Hinds Principal Solution Marketing Engineer Workday
- 6. Agenda Workday Confidential 01 The Shift to Skills-Based Employment 02 How Accenture is Helping Organizations Evolve 03 Reskill and Optimize Talent Solutions 04 Product Demonstration 05 Q&A
- 7. The Shift to Skills-Based Employment
- 8. Skills Challenge Executives said they were experiencing skills gap Workers will need reskilling by 2030 375M Source: McKinsey - 2017
- 9. Skills Challenge Accelerated Of jobs will required different skills in the next three years Workers will need reskilling by 2030 1B Source: World Economic Forum - 2020
- 10. Skills-Based Hiring Practices are Shaping the Future of Work
- 11. Customer Participation in Coalitions
- 12. Recruiting Learning How does Workday think about Skills-Based Employment? Skills based talent practices span the full worker lifecycle - from the job seeker through internal mobility and employee development - focusing on the worker’s skills and capabilities rather than their formal education, and/or number of years of previous work experience. Performance Enablement Career Development
- 13. Source: “Reach for the STARs: The Potential of America’s Untapped Talent Pool.” Published by Opportunity@Work and Accenture, March 2020 A skills-based approach to employment “creates a more equitable job market that "screens in" for skills rather than "screening out" those that lack traditional credentials like four-year degrees, a barrier which can disproportionately affect adults returning to the workforce or changing jobs, people of color or underrepresented minorities, veterans, and the economically disadvantaged.”
- 14. Out of 161 million active adult workers in the U.S., 60 million have BA degrees, and 14 million do not have a high school diploma 60% of the U.S. adult workforce does not have a four-year college degree 74% of new jobs between 2008-2017 were in occupations where employers typically require a 4- year college degree Source: “Reach for the STARs: The Potential of America’s Untapped Talent Pool.” Published by Opportunity@Work and Accenture, March
- 15. Benefits of Skills-Based Practices Focus on skills can reduce bias and result in 30% more qualified diverse candidates Retain employees with skills development 20% of employees quit for lack career development opportunities Unlocks opportunity for those without a four-year degree Increase diversity in the workplace Deepen the talent pool for employers Build a culture of lifelong learning Support training throughout a worker’s career to adapt to trends
- 16. Skills in the Talent Lifecycle Workday Confidential Recruit & Onboard Identify, source, fill, and onboard the best candidates for critical skill needs Assess & Perform Assess and measure skills capabilities against business needs Reward & Pay Reward and pay for skills expertise and upskilling behaviors, supporting equitable comp Career & Mobility Build skills and a culture of continuous learning, internal mobility, and increase retention Resource & Redeploy Quickly identify, schedule, and allocate resources based on skills needs Analyze & Plan Analyze skills capacity and gaps to better plan for build, buy, or borrow decisions Forecast & Benchmark View and predict market trends in order to plan for emerging skill needs
- 17. How Accenture is Helping Customers Evolve
- 18. Copyright © 2021 Accenture. All rights reserved. 18 Over the past 12 months Compressed Transformation Humanity & Inclusion Rise of Resilience WEF Consumer Industry Task Force Pilot Responsible Business People + Work Connect Care to Do Better Looking at “Hidden Talent” Employment Support Copyright © 2021 Accenture. All rights reserved.18
- 19. Copyright © 2021 Accenture. All rights reserved. 19 19 Unlock Human Ingenuity through Skills Driven people practices Cost to hire talent an in-demand tech role can be upwards of 400% higher than the average annual spend per employee on skilling2 1Honing your digital edge, Accenture, 2020. 2Why Competing For New Talent Is a Mistake (hbr.org), 2020 3Care to do better, Accenture, 2020 Winning in the future is now about "survival of the fastest" Digitally fluent companies who have workforces with strong digital skills are over 5x more likely than peers to project high revenue growth for the upcoming three years1 Companies that leave their people better off, which includes feeling a strong sense of inclusion and belonging, can see modest revenue growth of 5% (average company revenue in 2020 is anticipated to decline by -4.7%)3 Accelerate Digital Transformation Discover the skills needed inside and outside of your organization Invest in Critical Talent Areas with Precision Target the right skills, right roles, and the right learning at the right time Shape an Inclusive Future of Work Prioritize skills over pedigree and power innovation
- 20. Copyright © 2021 Accenture. All rights reserved. 20 TO BE SKILLS DRIVEN How are talent processes facilitating movement/ learning? Process How are skills insights and plans to enable business strategy? HR Catalyst Technology How is technology configured to keep skills at the core? How are talent, learning, D&I, total rewards approaches fueling a skills- based strategy? Philosophy & Mindset Embed skills at every level
- 21. Copyright © 2021 Accenture. All rights reserved. 21 PERSPECTIVE Where are you on the skills journey? Skills Exploration Know this is the future and looking to understand what next steps to take. Skills Evolution Ready to reset nearly all existing policy, process & platform, to incorporate skills in a cohesive sequence of iterative improvement and evolution Skills Driven Prepared to disrupt mindset, policy and process and systemically embed skills 21
- 22. Workday Confidential Reskill and Optimize Talent Solution
- 23. Skills Cloud Your foundation to succeed • Intelligence to power skills based matching • 45,000 curated skills, understanding over 250,000 synonyms • Inference from text, certifications, job titles and skill to skill • Globalized for top languages Skills: Inference Skills: Power of One Skills: Verification Skills: Ontology
- 24. Skills Cloud Your foundation to succeed • Intelligence to power skills based matching • 45,000 curated skills, understanding over 250,000 synonyms • Inference from text, certifications, job titles and skill to skill • Globalized for top languages
- 25. Workday Confidential Recruit & Onboard Identify, source, fill, and onboard the best candidates for critical skill needs Assess & Perform Assess and measure skills capabilities against business needs Reward & Pay Reward and pay for skills expertise and upskilling behaviors, supporting equitable comp Career & Mobility Build skills and a culture of continuous learning, internal mobility, and increase retention Resource & Redeploy Quickly identify, schedule, and allocate resources based on skills needs Analyze & Plan Analyze skills capacity and gaps to better plan for build, buy, or borrow decisions Forecast & Benchmark View and predict market trends in order to plan for emerging skill needs Skills in the Talent Lifecycle
- 26. Have the insight to know the skills and capabilities of your workforce Create a personalized and curated experience for your employees Provide the tools to respond with agility to changing business needs Reskill and Optimize Talent Understand Engage Adapt
- 27. Workday Confidential Recruit & Onboard Skills Cloud to Understand Assess & Perform Career & Mobility Skills Miner Skill Suggestions Candidate Skills Match Masked Candidate Screening Skills Based Assessments People Experience Skills in Learning Talent Marketplace Skill Miner Skill Suggestions Skill Verification Skill Gaps People Experience Skills Endorsements Skill Level Skills in Learning Skill Gaps People Experience Critical Skills Skill Level Suggested Jobs Skills in Learning Talent Marketplace Career Hub Skills Cloud to Understand, Engage Skills Cloud to Understand, Engage and Adapt Skills Cloud
- 28. DEMO
- 29. Core Human Resources Talent Management Payroll and Workforce Management Planning Analytics and Benchmarking Globalization Ability to Adapt to Disruption Redeploy and Realign Internal Talent Mitigate Bias Understanding the Skills and Capabilities of Your Workforce Fuel Development of Your People Skills Foundation Enables Outcomes
- 30. Additional Resources Guidance, case studies, tools and tips to help you adopt a more inclusive and effective sourcing and hiring strategy including: • Writing inclusive, skills-based job postings • Sourcing a talented and diverse applicant pool • Screening to identify most-qualified candidates • Inclusive, skills-based interviewing and selection to improve hiring and increase diversity • Skills-based onboarding to get new hires up to speed and started on the right foot https://www.markle.org/employer-toolkit
- 31. Additional Resources • Overview of Workday’s approach to skills- based employment • Includes key products, features and benefits to navigate this business transformation journey. • Guidance to achieve business outcomes including: ‒ Create engaging candidate experiences ‒ Reimagine sourcing to access diverse talent ‒ Screen to identify most qualified candidates ‒ Support internal mobility ‒ Foster lifelong learning
- 32. Q&A
- 33. Thank you for joining us! Join us in these upcoming sessions: Workday Confidential February 25, 2021 Thursday 10 AM PT Choose Your Own Upgrade: Why You Don’t Want a Choice for When You Upgrade March 2, 2021 Tuesday 10 AM PT How to Get “Rolling” with Monthly Forecasts March 4, 2021 Thursday 10 AM PT Digitize Your Workforce Operations for Accuracy, Flexibility, and Transparency March 9, 2021 Tuesday 10 AM PT Accelerating your Digital Finance Transformation Journey with Deloitte & Workday March 16, 2021 Tuesday 10 AM PT Diversity & Inclusion: Manage Globally, Thrive Locally March 18, 2021 Thursday 10 AM PT Why HR Service Delivery is Pivotal for Employee Experience
- 34. Thank You
- 35. For a changing world. TM