July 8, 2021

How Adding AI to Workday Improves Talent Management (part 1 of 3, Workforce Planning)

With so many customers using Workday, we’ve been able to see how they’re using AI to augment their Workday systems. We’re seeing their business challenges, and their outcomes. With that in mind, we wanted to do a series on how customers are using AI with Workday to improve talent management.

Today we’ll talk about workforce planning. Next week, talent development. Then, the employee experience.

As far as workforce planning goes, let’s take a look at four areas.

Intake. An HR platform alone doesn’t capture the true potential of each employee. By adding AI, based on our matrix of 1.4 million skills, companies can see which skills each employee has, which need to be validated, and which are missing. Companies can then pursue a talent-management strategy that aligns with business needs and each employee’s capabilities, at scale.

Talent strategies. Talent data are stored in two separate systems: an HR system, and an ATS. It’s hard to devise a holistic talent strategy. With Eightfold’s single AI platform, companies can see across their whole talent network of employees, prospects, referrals, past-applicants, and alumni. Employers can address talent acquisition and talent management with a common system and skills-based framework.

Understanding workforce capabilities. Companies lack a solid view of the skills and capabilities of their whole workforce. That makes it tough to identify skills gaps, smartly redeploy talent, or build upskilling and reskilling programs. A “Capabilities Dashboard” on the other hand offers a view of the skills employees have and can learn, across the whole company. This is a valuable complement to the capabilities of Workday, helping employers prepare for the future with a deep understanding of any talent gaps.

Talent benchmarking. Companies can’t easily benchmark the current capabilities, let alone the potential, of their workforce. They spend a lot of money on consultants, reports, and more to try to fill in the gaps. Eightfold’s AI continually analyzes more than a billion profiles to provide real-time intelligence on the global market for skills and jobs. Our customers determine whether they are keeping pace with the global market, and how they stack up against competitors.

For more, check out this in-depth look at adding AI to Workday.