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Introduction
The skill set and job market are always changing, just like the workforce. New skills are required for new jobs that come with the innovation and adoption of emerging technologies.
Gone are the days when an employee’s value was solely defined by their job description. Workforce management in this decade demands a skill-based strategy. And for that, a skills taxonomy is going to be a differentiating factor.
In this blog post, let us explore what is this concept of taxonomy based on skills and how it can help organizations amplify growth.
What is skills taxonomy: An outline
A skills taxonomy in a company is a structured categorization that organizes key skills relevant to business operations. Typically, it has a hierarchical structure in which each skill is categorized according to its significance or complexity. This method assists companies in measuring the scope and complexity of skills in all divisions, positions, and levels of seniority.
Every forward-thinking company that wants to manage its workforce using a skills-based approach must have a skills taxonomy. It can assist your organization with succession planning and internal mobility initiatives by highlighting current skill gaps.
Skills taxonomy: Vital components
An organization’s skills taxonomy‘s components will vary depending on the company’s structure. However, some components are crucial to all taxonomies.
Descriptions of skills
Giving each skill a definition or description clarifies the taxonomy. Write thorough explanations of each skill so that people without the necessary skills can understand what it means.
Hierarchy of skills
Most of the time, skill taxonomies are hierarchical. This gives you a wonderful opportunity to classify skills according to different criteria and offers a clearer picture of any gaps that currently exist.
Mapping skills
Skill mapping is an essential process that helps determine the particular skills that every individual in the organization possesses if you want to build anything greater than just a basic skills database. You can compile all the company’s talents into a straightforward visual representation after a comprehensive job analysis.
Advantages of a skills taxonomy for managers and HR
To adapt to the highly competitive business landscape, you need a skills taxonomy if you want to implement a skill-based approach in the firm. Managers and HR specialists can benefit from it in the following ways:
Enhanced recruitment process
While HR often searches outside the company for candidates whose qualifications match the job description to fill a new position, there are different approaches as well:
- Do any employees in the company have the required skills already?
- Do you know somebody that you could mentor?
- Could you broaden the job description for a software developer to include the additional skills you require?
- Is there another skill gap that needs to be filled in the organization more urgently than the ones you’re looking at right now?
Improve your training and development initiatives
Without development and learning programs, your staff and business may eventually become less productive and stagnant. Furthermore, today’s workforce prefers employers who offer them ongoing opportunities to develop and learn. For some time, it might even increase retention and satisfaction. However, if it is not optimized, in the long run, it could just be a waste of resources.
By outlining precisely what expertise you should assist the staff in developing, a skills taxonomy will help steer clear of such predicaments. Making the right training available to suitable employees and skill-set selections will help save money and maximize the impact of your programs.
Improved management of talent
A skills taxonomy supports the development of a consistent vocabulary for defining skills and competencies. It shows any skill gaps and provides a clear picture of what each employee in your company is capable of.
- This helps HR professionals maintain career advancement and succession plans, as well as establish and facilitate opportunities for growth and learning for people management.
- It’s simpler to set objectives for achievement that are difficult enough to motivate exceptional performance but not impossible or demoralizing when you’ve got a solid grasp of the company’s abilities.
- This can benefit both the organization and the people by increasing productivity, engagement, and satisfaction.
In summary
A more resilient company and a skills-centered approach to work start with a skills taxonomy. It can help you design a faster time to productivity, a more seamless onboarding experience, and an efficient talent acquisition program.
Using cutting-edge tools for skill development and identification, skills analytics platforms such as IYS Skills Tech streamline this process even further and help businesses remain competitive in a constantly changing environment.
