Employee development has always played a critical role in helping a company achieve long term success. However, in today’s ever-changing world of business, optimizing a team’s skills has never been more important.
Workday, with its intuitive user interface and intelligent management tools, has made it possible to change how businesses optimize talent and help companies stay competitive in a climate of emerging talent strategies and employee development initiatives.
The Workday Talent Marketplace pilot was launched in 2020, and its goal was to help businesses optimize their talent by connecting employers and employees with opportunities based on an individual employee’s skill set. Today, the Talent Marketplace has helped many Workday customers increase the number of skills attributed to their teams.
Read on to learn more about what Workday Talent Marketplace has to offer, including benefits, uses, and key capabilities to help your organization optimize skill management initiatives.
What is a Talent Marketplace?
Think of a talent marketplace as matchmaking for the business world!
Its purpose is to match employees to employment opportunities based on their individual interests and skills. This promotes individual career growth over time, while also benefiting the employer with employee skills that are more tailored to their unique needs.
When employers are able to predict skills and see more skill pools in the same place place, they can quickly pull employees for different gigs and projects and ensure their skills align with their needs
What Makes Workday Talent Marketplace Different?
Workday Talent Marketplace is a skills technology that connects jobs and job seekers, turning that middle ground into a place that allows companies to mix different types of employees. This ensures employers put employees with the appropriate skills on certain projects.
Workday created the Talent Marketplace to help employees increase their individual skill sets and make it easier for companies to re-skill employees as new needs arise. The Talent Marketplace has also helped employers understand skills across their workforce and provide them with growth opportunities to help further their career development goals.
Key Capabilities of Workday Talent Marketplace
- Provides real-time feedback for employee growth
- Helps workers paint a better picture of their future with a company
- Offers more targeted opportunity matching functions
- Allows employer to infer related skills of employees
Benefits of Workday Talent Marketplace
Using skills technology can streamline your talent acquisition initiatives, provide more opportunities for career growth for both gig owners and workers!
Here’s a look at 3 specific benefits of Workday Talent Marketplace:
Skill Based Connections Between People and Opportunity:
When employers understand how a person’s skills align with a specific role, they can make better informed decisions on talent matching and opportunity creation.
Workday Skills Cloud:
Workday Talent Marketplace leverages the Workday Skills Cloud to match people with skill-fitting opportunities by comparing a person’s skills and interests with the organization’s skill requirements.
The Skills Cloud provides a broad overview of the skill sets that workers have by predicting and verifying skills and leveraging Workday HCM data to build unique skills lists.
Create a Swift Workforce:
Time is of the essence in today’s world, and, fortunately, Workday Talent Marketplace promotes a more agile workforce.
The Talent Marketplace allows companies to quickly look at internal talent lists to fill projects, gigs, and full-time roles, as well as re-skill and up-skill employees to adapt to business changes.
Promote Internal Mobility and Growth Opportunities:
With Workday Talent Marketplace, personalized and data-driven opportunities encourages employees to be vocal about their career development goals, while still enabling internal mobility and allowing companies to keep their best workers in the right places
Uses for Workday Talent Marketplace
Team Projects:
When projects are managed by curating a specific team to solve an issue or complete tasks.
Urgent Needs:
This is the use of individual gigs to fulfill time-sensitive or skill-specific needs.
Long-Term Assignments:
These are separate projects completed over 3-6 months, and typically at the same time as an employee’s current role.
How We Can Help
Whether you need help with enabling talent capability with skills technology, need to evaluate your current employees skill set, or are just starting out on your Workday journey, Surety Systems can help.
Our senior-level Workday consultants have the skills and experience to help your team implement an accurate and seamless solution (like Workday Talent Marketplace) to maximize your employee’s talents, meet business requirements, and make the most of your investment.
Contact Us
Ready to take your team talent optimization efforts to the next level?
Contact us today to learn how our team of expert Workday consultants can fit your needs!
