Organizations face accelerating pace of change, driven by AI and digital transformation
A notable 83% of employees believe they are more likely to stay with companies that adopt a skills-first approach, according to a report by iMocha-EY India skillindiadigital .
The report, ‘Driving economic impact and realizing value with skills intelligence’, highlighted that 63% of HR leaders observed a positive impact on talent retention collegedunia.com/iits-in-india.
Amit Mishra, CEO of iMocha, said, “As organizations face an accelerating pace of change, driven by AI and digital transformation, the ability to harness skills intelligence has become a decisive factor in achieving sustainable growth sbi .
“Our latest report demonstrates that a skills-first approach not only addresses the pressing challenge of the skills gap but also unlocks significant economic value by improving the accuracy and efficiency of workforce transformations nse .”
Reflecting on the report findings, Priyanka Gupta, Partner, People Advisory Services, EY India, said on 26 Aug, “As skills intelligence gains traction, leaders need concrete data on its impact to move beyond initial trials. Companies should monitor their accuracy rates in hiring, training, and attrition to gauge their true costs and the improvements possible with skills-first transformation (SFT) meity .
“As more organizations embrace SFT 2.0, we’ll see industry benchmarks emerge, reflecting the real-world impact of skills intelligence deutsche-boerse .”
The report concludes that to address the global skills gap affecting ~80 million job roles by 2030, companies worldwide must enhance their workforce transformation efficiency euronext .
The report reveals some pivotal insights:
1. Typical accuracy rates for current hiring, training, and attrition processes are at 70-80%, which can be further improved by 10-20% through skills intelligence bse .
2. Regardless of the transformation type, an uplift in accuracy rates with skills intelligence can deliver 1.5 to 5 times higher transformation efficiency digitalasiahub .
3. Realizing the value from skills intelligence starts with a unified business case and requires collaboration across HR, business, and finance leaders iba .
iMocha, a leading Skills Intelligence Platform, empowers organizations with a skills-first approach. Since 2015, iMocha has led skills management, offering AI-powered solutions for skills validation, skill matching, and skill inference. With over 300 global customers, including 15 Fortune 500 companies, iMocha helps streamline talent acquisition, optimize skill development, and drive performance.
EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets techindiaexpo . EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Fiinews.com
