New Partnership Between Lightcast and Guild Revolutionizes Talent Management with Skills Reporting

Empowering Employers with New Skills Reporting

The workforce landscape is undergoing a rapid transformation, and keeping up with these changes is crucial for any organization looking to thrive. In an innovative move, Lightcast, a leader in labor market analytics, has teamed up with Guild, a comprehensive solution for education and skills development, to enhance the way employers can track and manage talent.

Understanding the Shift in Skills Requirements

Data shows that the skills required for jobs in the U.S. have evolved significantly, with an average change of 37% over the last five years. This statistic highlights a pressing need for ongoing training and assessment to ensure employees remain competitive in the job market. Despite this, many executives feel they are not investing sufficiently in skills relevance, with around 95% acknowledging that their investments are lacking.

However, investing in employee development can have tangible benefits; companies that strategically approach skills training often report an increase in profitability of at least 11%. The urgency to align educational programs with evolving business needs has never been greater. This is where the new partnership between Lightcast and Guild steps in, offering employers the tools necessary to foster internal mobility and cultivate skilled talent.

What the Partnership Offers

Through this collaboration, Guild’s platform will now incorporate Lightcast's skills intelligence, enabling employers to access detailed skills data for employees participating in Guild's Learning Marketplace. This feature allows companies to gain precise insights into the skills being acquired by their workforce through various educational programs.

The skills reports generated are not only consistent but also provide clarity, enabling businesses to make informed, data-driven decisions about their talent development strategies. Combining this with verifiable skills data from Lightcast allows employers to confidently plan for the future of their workforce.

Gresham Schlect, Chief Technology Officer at Lightcast, emphasized the importance of understanding skills in building a future-ready workforce: "It's a huge advantage for an employer to quickly and reliably understand the skills their employees already possess, helping ensure an efficient workforce planning strategy."

A Comprehensive Skills Taxonomy

At the cornerstone of this partnership is Lightcast's Open Skills Taxonomy, recognized as a leading framework for analyzing skills and job requirements within today’s labor market. This extensive taxonomy offers insights from billions of job postings to create a relevant, accessible analysis of the skills landscape. As a resource utilized by over 65% of Fortune 100 companies, Lightcast's systems are vital for understanding the skills that are most pertinent to today’s job market.

Guild's Learning Marketplace has mapped its program descriptions into Lightcast's system, allowing for the classification and enrichment of skills linked to different curricula. Each program undergoes validation from Guild's learning providers, ensuring its accuracy and relevance for workforce training.

Transforming HR Strategies

Rohan Chandran, Chief Technology and Product Officer at Guild, stated, "With the growing need for HR leaders to align learning and development investments with strategic business outcomes, our partnership with Lightcast sets a new standard by providing companies with skills they can trust."

This powerful alignment of educational outcomes with business needs is essential for organizations aiming to respond effectively to market dynamics. By leveraging the insights from this partnership, companies can not only train their employees effectively but also plan their manpower needs strategically.

Conclusion

In a rapidly evolving job market, the alliance between Lightcast and Guild represents a transformative advancement in how employers can mobilize and manage their talent. As organizations strive to remain competitive, utilizing skills data and analytics will be vital to unlocking the potential of their workforce. This partnership promises a future where talent management is not just reactive but proactive, carefully designed to meet the demands of tomorrow’s labor market.

For more information about these organizations and their offerings, you can visit Lightcast and Guild.