Category: Talent & Market Insights

PeopleScout Company Overview

Posted on by akessler

PeopleScout Company Overview

Global talent solutions providing unmatched scalability to meet the professional, specialist, volume and contingent hiring needs of organizations of all sizes and sectors.

Download this fact sheet to learn more.

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Learn more about PeopleScout’s award-winning talent solutions.

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Dig Into More Talent Insights

Ultimate Recruitment Process Outsourcing Toolkit
Toolkit

Ultimate Recruitment Process Outsourcing Toolkit

Our complete six-piece toolkit gives you the essential information on how RPO can boost your recruitment outcomes.

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Recruitment Process Outsourcing (RPO) Buyer’s Guide
Buyer’s Guide

Recruitment Process Outsourcing (RPO) Buyer’s Guide

Check out this in-depth exploration of RPO and how it can help you achieve your recruitment goals.

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Global Hiring and Labor Market Trends Affecting Recruitment in APAC 
Article

Global Hiring and Labor Market Trends Affecting Recruitment in APAC 

Check out these labor market trends in APAC and their effect on talent acquisition in the region.

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PeopleScout Jobs Report Analysis—April 2024

Posted on by lloftus

U.S. employers added 175,000 jobs in April, falling short of the 240,000 estimate. Consistent with recent trends, the healthcare and social assistance sectors saw the greatest increase with 56,000 and 31,000 jobs added respectively. Other industries with significant growth included transportation and warehousing, and retail. The unemployment rate increased slightly to 3.9%, despite expectations that it would remain steady at 3.8%. Year-over-year wage growth rose to 3.9%. 

The Numbers 

175,000: U.S. employers added 175,000 jobs in March.  

3.9%: The unemployment rate rose to 3.9%.  

3.9%: Wages rose 3.9% over the past year.  

The Good 

While job numbers fell short of expectations, the increase is still strong by historical standards. Many economists say the moderate pace of hiring, coupled with last month’s slowed wage growth, are just what the Federal Reserve hopes to see, after keeping interest rates at a two-decade high to fight persistently high inflation. The report was published just two days after the Fed voted to hold borrowing rates steady. Hourly earnings rose 0.2% from March and 3.9% over last year, both below estimates, alleviating concerns of wage growth-driven inflation. The New York Times reported strong labor participation, with women between the ages of 25 and 54—considered prime working years—reaching their highest participation rate ever, at 78%.  

The Bad 

Last month’s hiring was down significantly from the blockbuster increase of 315,000 in March and fell short of the 240,000 gain economists had predicted for April. The majority of job gains were seen within select industries—with healthcare accounting for a third of April’s job growth. As reported by the Wall Street Journal, slowed growth was particularly notable in the government, leisure and hospitality, and construction sectors. Consumers have begun reporting signs of a deteriorating job situation and are feeling less positive about the job market and are concerned about future business conditions, job availability and income, according to respondents of a recent Conference Board survey.  

The Unknown 

The April jobs data should help Fed officials regain confidence that inflation will drop to their target of 2%, but it’s going to take time. While Fed Chair Jerome Powell has said it’s unlikely rates will be raised further, the Wall Street Journal reported he has also indicated it will likely take more than a small increase in the unemployment rate—like that seen in April’s report—for the Fed to respond by lowering interest rates. Economists agree conditions could shift quickly, with the demand for workers already easing as job openings decline and fewer workers are voluntarily leaving their jobs.  

Conclusion 

The U.S. job market may be cooling as some experts have been anticipating for a while. While this could mean rate cuts will follow, the Fed has made it clear that one month of jobs data will have little impact on their decisions. Instead, officials will look at economic data in totality, keeping a close eye on the job market while maintaining their wait-and-see approach.  

Connect More™: How PeopleScout is Elevating Your Connection to Talent 

Posted on by akessler

In a world where the talent market is constantly evolving, PeopleScout knows that cultivating deeper, more meaningful connections is imperative. Now, as we unveil a refreshed identity, we build on the service we’ve delivered for over 30 years, delivering more insights, more imagination and more integrity.  

Connect More™ is our guiding principle. It reflects our unique approach that blends experience, insight and action to help employers build powerful connections with talent. 

We’re redefining what it means to a be talent acquisition partner.  

Too often we hear from clients about experiences they’ve had with other talent solutions providers in which one thing was said during the sales pitch only to have the stakes change once the ink was dry. Or times they’ve been forced into cookie-cutter processes that don’t support their unique needs. 

That’s why at PeopleScout we strive to do the opposite. We believe in keeping promises. We believe that listening creates a better experience and leads to better outcomes. We’re not perfect, but if we mess up, we make it right. 

We’re proud and humbled to say that this philosophy has led to some of the most enduring client relationships in the talent acquisition space—a testament to our commitment to creating connections that are truly meaningful. 

PeopleScout’s refreshed brand is grounded in differentiators that drive tangible value for our clients:  

Proven Delivery 

For over 30 years, PeopleScout has built our services on integrity, building trust through transparent communication and a proven track record of success.  

What That Means for You: 

You get a talent partner like no other to help you tackle your workforce challenges—large and small. Plus, as part of the TrueBlue family of brands, we are uniquely positioned to handle complex talent programs like no other firm in the world. 

Meaningful Connections 

PeopleScout has the demonstrated ability to connect with the most sought-after talent. From software engineers to neonatal nurses.  From Seattle to Singapore. 

What That Means for You: 

Our global delivery centers offer talent solutions across North America, EMEA and APAC, meaning we can grow with you as your needs change.  

Talent Advisory 

With one of the largest in-house talent advisory teams in the industry, we’ve got a wide range of experience with talent audiences across industries, skill sets, demographics and geographies. We are problem-solvers, creatives, organizational psychologists and operational experts.  

What That Means for You: 

Whether you need an award-winning candidate attraction campaign, a differentiated employer brand, market insights to fuel big decisions, a memorable candidate assessment experience or DE&I consulting—we have fresh ideas to help you stand out as an employer of choice. 

Data & Insights  

Sometimes you don’t know what you don’t know. We’re dedicated to arming you with the sharable, digestible insights you need to tell the right stories in your business so you can stand out and get ahead.  

What That Means for You: 

You can capitalize on the latest market analysis, AI tools, thought leadership and competitive intelligence to supercharge your people strategy.  

Human Touch  

We bring a personal touch to our engagement with passive candidates that ignites excitement about your opportunities. From the second we grab the candidate’s attention to the minute they walk through the door—we deliver a seamless candidate experience that turns applicants into advocates. 

What That Means for You: 

Whether you need to fill executive, leadership or niche roles our global search teams deliver top-notch, future-ready talent. 

Digital Transformation  

As digital transformation reaches talent acquisition, we’re helping our clients get ahead. Affinix®, PeopleScout’s proprietary total talent suite, provides candidates with a digital-first experience and leverages AI, automation and data analytics to remove friction and improve outcomes. Plus, we’re on top of the latest tech solutions, testing new ways that AI and machine learning can create results for our clients. 

What That Means for You: 

You get an upgraded tech-ecosystem that blends digital efficiency with human expertise to create personalized experiences for both candidates and hiring managers. 

Ultimate Scalability  

We’ve scaled up to handle the full-cycle, global recruitment of tens of thousands of annual hires for one of the world’s largest hotel brands. We’ve scaled down to hire a few dozen specialist engineers for an automotive start up. And we’ve handled everything in between.  

What That Means for You: 

Whether you need specialty, professional, volume or contingent hiring solutions—our unique blend of insight, creativity and technology creates an employer brand-steeped candidate experience talent will never forget.  

Speed and Agility  

In this tumultuous era, talent acquisition teams are struggling to respond quickly to sudden fluctuations and hiring peaks. That’s why we’ve created flexible solutions like Accelerate™ and Amplifiers™. Purpose-built for modern talent programs, our solutions provide employers with the agility required to compete in today’s talent market, address immediate hiring needs and deliver results faster.   

What That Means for You: 

You get focused support for peak hiring, hard-to-fill positions, compressed time frames and more—however it works best for you—without the lengthy implementation.  

Value  

Organizations of all sizes trust PeopleScout’s efficient recruiting processes and quick-deploy solutions that improve time-to-hire and retention rates, delivering the best talent matches and maximizing ROI. 

What That Means for You: 

We measure our every move, idea and recommendation—so you know you’re spending your budget where it matters most. 

Diversity, Equity & Inclusion (DE&I) 

DE&I is top of mind for talent leaders, including all of us at PeopleScout. While much progress has been made, there’s still work to be done. That’s why every PeopleScout solution has a DE&I component. PeopleScout integrates DE&I best practices into every solution, helping clients build a more diverse and inclusive workforce.   

What That Means for You: 

We’ll help you gain a better grasp of where you are, where you need improvement and how to find the right path forward. 

Are You Ready to Elevate Your Connection with Talent? 

PeopleScout’s deep expertise in recruitment, employer branding, talent attraction and recruitment technology makes us a recognized leader in talent acquisition. We connect clients around the world with the talent they need through Recruitment Process Outsourcing (RPO), Managed Service Provider (MSP), Total Workforce Solutions, and talent and technology advisory services.  

If you’re ready to elevate your connection with talent, let’s connect! 

Talent Consulting from PeopleScout Lays the Foundation for a Winning RPO Partnership 

Posted on by akessler
Talent Consulting from PeopleScout Lays the Foundation for a Winning RPO Partnership

Talent Diagnostic

Talent Consulting from PeopleScout Lays the Foundation for a Winning RPO Partnership

When a world-famous consumer goods brand split into two separate companies, their talent acquisition team needed help developing a sustainable strategy to support the future growth of two brands. They turned to PeopleScout and our Talent Diagnostic solution for help optimizing their talent acquisition strategy to prepare for this critical transition.

Situation 

A world-famous consumer goods brand that specialized in breakfast foods and snacks engaged PeopleScout to support an over-extended in-house recruitment team. With our Recruiter On-Demand™ solution, our flex recruiters augmented their team, and we provided some much-needed sourcing technology through our Affinix® CRM.   

After a three-year partnership, the company split into two brands, one for breakfast cereals and one for snacks, throwing the talent acquisition team into new territory.  

Solution 

To support the transition to two distinct companies—and two talent acquisition teams—the client engaged PeopleScout for our Talent Diagnostic solution, part of the Amplifiers™ suite. They wanted an objective analysis of their talent acquisition model, including a renewed focus on finding high-quality candidates in highly competitive rural markets. 

PeopleScout facilitated over 20 interviews with various stakeholders and assessed the entire talent lifecycle. Our final report gave an overview of:  

  • The current state of their talent lifecycle  
  • Recommendations to streamline their processes and create a more consistent candidate experience to improve quality and equity 
  • Technology recommendations and tactics to optimize their recruitment channels for larger, more diverse candidate pools 

Results 

Following the presentation of the findings from the Talent Diagnostic, the client engaged PeopleScout for full-cycle RPO for their new snack brand to execute the recommendations we developed.  

“The expertise from the PeopleScout team created a big lift with little lead time and a tight timeline for deliverables. I appreciate their thoughts, partnership and flexibility while we worked to align our approach with HR and our leadership.”

HR Director, Global Consumer Goods Brand 

At a Glance

  • COMPANY
    Global consumer goods brand
  • INDUSTRY
    Consumer Goods
  • PEOPLESCOUT SOLUTIONS
    Recruitment Process Outsourcing, Talent Advisory, Affinix
  • ABOUT THE CLIENT
    This multinational food manufacturing company specializes in breakfast and snack foods that are manufactured and marketed in over 180 countries.
Let’s Connect

Amplifiers™: Talent Mapping

Posted on by akessler

PeopleScout Amplifiers™: Talent Mapping

As part of our suite of modular recruiting solutions, Amplifiers™, PeopleScout Talent Mapping helps you unlock the secrets of your talent segments and make better workforce planning decisions. Our experts harness research and analytics to illuminate talent availability, salary benchmarks and more in each of your regions.

Download this fact sheet to learn more.

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Learn more about PeopleScout’s Amplifiers™ and get answers to frequently asked questions (FAQs).

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Dig into More Talent Insights

Solution Guide: PeopleScout Amplifiers™
Fact Sheets

Solution Guide: PeopleScout Amplifiers™

PeopleScout Amplifiers™: How Modular Recruitment Solutions Can Supercharge Your Talent Outcomes Traditional recruitment approaches are failing to meet the demands of today’s dynamic business environment. Companies need agility, scalability and specialized expertise without the overhead of full-scale recruitment process outsourcing. Enter PeopleScout Amplifiers™—modular RPO solutions to augment your team where you need it in your…

Specialist Hiring: Maximizing Success with Targeted Talent Sourcing  
Case Studies

Specialist Hiring: Maximizing Success with Targeted Talent Sourcing  

Situation  A local authority in the southwest of England had a robust talent acquisition team but required additional support for front-end headhunting and sourcing assignments. A new and niche position for a harbor master demanded a comprehensive strategy to locate the right specialist.   A habor master ensures the safety of all users of a harbor,…

Why Small and Medium Enterprises Should Consider Recruitment Process Outsourcing
Articles

Why Small and Medium Enterprises Should Consider Recruitment Process Outsourcing

Small and medium-sized enterprises (SMEs) face unique challenges in attracting and retaining top talent. Limited resources, lack of dedicated recruitment teams, and the need for agility in hiring can often put smaller businesses at a disadvantage.   That’s where Recruitment Process Outsourcing (RPO) comes in— a versatile strategy that businesses of all sizes can leverage to…

PeopleScout Jobs Report Analysis—February 2024

Posted on by akessler

U.S. employers added 275,000 jobs in February, outpacing expectations and exceeding January’s gain, illustrating that the labor market remains strong despite high interest rates, inflation and slowing economic indicators.  Unemployment rose to 3.9%, the highest rate since January 2022. Year-over-year wage growth rose to 4.3%. 

The Numbers 

275,000: U.S. employers added 275,000 jobs in February.  

3.9%: The unemployment rate rose to 3.9%.  

4.3%: Wages rose 4.3% over the past year.  

The Good 

February’s jobs report outpaced expectations and even exceeded January’s adjusted gain of 229,000 jobs, marking the third straight month of seasonally adjusted gains over 200,000 and the 38th consecutive month of growth, as reported by the New York Times. While January’s numbers caused concerns among economists and investors that price pressures were resurfacing, the Labor Department made substantial changes to those numbers with the release of the February report, reducing those fears. Confidence is growing among investors as the U.S. economy continues to show resilience against the highest interest rates in over 20 years while delivering consistent job growth and some of the lowest unemployment rates in recent history. Another positive sign can be seen in labor force participation rates, which jumped to 83.5% for people in their prime working years—ages 25 to 54. 

The Bad 

Despite the headline job growth numbers exceeding expectations, experts are seeing signs of a gradual slowdown. The overall unemployment rate rose to 3.9%, the highest it’s been since January 2022, and wage growth slowed. The increase in unemployment from 3.7% in January was driven by people losing or leaving jobs as well as an increase in individuals entering the labor force. As reported by the Wall Street Journal, even though the index is elevated compared to prepandemic levels, the labor market is likely to cool off, with modest job gains expected through Q3 and Q4 of 2024. 

The Unknown 

The Federal Reserve is keeping an eye on the labor market as it contemplates potential changes to interest rates. Fed officials meet on March 19-20 and are expected to leave rates unchanged at that time. If job growth remains steady and the labor market is so strong that wages rise quickly, price increases are likely to persist as companies try to cover their costs. However, if the job market begins to slow significantly, the Fed may consider earlier interest rate cuts.  

Conclusion 

The February jobs report paints the picture of a labor market that is gradually downshifting with steady hiring and cooling wage growth increasing the likelihood that the U.S. will achieve a “soft landing” and bring inflation down without a recession. Moderate job and pay gains suggest the economy will continue to expand without the risk of reaccelerating inflation, giving the Federal Reserve the confidence they’re seeking to cut rates this year. 

Talent Insights Inform Search for Executive Leader for Healthcare System

Posted on by akessler
Talent Insights Inform Search for Executive Leader for Healthcare System

Healthcare Recruiting

Talent Insights Inform Search for Executive Leader for Healthcare System

A non-profit healthcare system engaged their RPO partner, PeopleScout, for talent insights to boost their search for a highly competitive new Chief Analytics Officer.

Situation 

A non-profit healthcare network was seeking a Chief Analytics Officer based in a large city in the United States where they’re headquartered. Other requirements for the role included experience in AI and data management platforms.  

They had engaged an executive search firm but weren’t seeing results. As their long-term healthcare RPO partner, PeopleScout’s dedicated talent advisory practice stepped in to provide the healthcare provider with an in-depth analysis of the talent market to support a more targeted search. 

Solution 

The PeopleScout Talent Advisory team worked with the client to define the most pertinent job characteristics and review job skills and compensation. This ensured that the role was aligned with the capabilities in AI and data management that the client required.  

Our analysis focused on the talent market in their required location to show the size of the talent pool that possessed their required skills. We were able to determine that there were less than 10 potential candidates based in that city that had all the skills they were looking for. The report we produced showed how adjusting their requirements would affect the size of the available talent pool.  

Here’s what we found: 

  • We identified candidates living in other cities that were currently commuting large distances during the week for work. This helped the client see if they relaxed their location requirement or were open to a flexible work arrangement (i.e., two-weeks working in the city, two-weeks working at home), they could grow their talent pool significantly. 
  • We uncovered a pattern that most people in similar roles had a tenure of approximately two to three years before switching jobs, usually after delivering a data transformation project. We advised the client that people who were only a year to 18 months into their current role may be less interested in switching. The optimum level of two to three years of tenure would make candidates more open to moving. 
  • We noticed a pattern that many people with the relevant skills were working as independent consultants. This revealed an additional pool of candidates who might be interested in going back to full-time work which the client hadn’t considered.  
  • We also found that many of the qualified candidates worked in financial services and might be receiving salaries on the high end of the spectrum. This helped the client reset expectations around the compensation range in order to secure the right person for the role.  

Results 

The talent insights we shared showed the client that flexing their requirements for the position could expand the talent pool in different ways. This data helped the healthcare company to make more informed decisions about the sourcing strategy for their new Chief Analytics Officer. 

At a Glance

  • COMPANY
    Healthcare Network
  • INDUSTRY
    Healthcare
  • PEOPLESCOUT SOLUTIONS
    Talent Advisory
  • ABOUT THE CLIENT
    The client is an American non-profit healthcare company and integrated delivery network.
Let’s Connect

PeopleScout Jobs Report Analysis—January 2024

Posted on by lloftus

U.S. employers added 353,000 jobs in January, nearly doubling what economist had predicted and demonstrating employers’ willingness to keep hiring to meet steady consumer spending. The unemployment rate remained flat at 3.7% despite predictions of a slight increase. Year-over-year wage growth rose to 4.5%. 

The Numbers 

353,000: U.S. employers added 353,000 jobs in January.  

3.7%: The unemployment rate remained unchanged at 3.7%.  

4.5%: Wages rose 4.5% over the past year.  

The Good 

January’s jobs report defied expectations with job growth nearly doubling forecasts, the unemployment rate holding steady and wages outpacing predictions. Experts at The Wall Street Journal also point out that while the bulk of hiring in 2023 came from just three sectors: government, healthcare, and restaurants and hotels, job gains in January broadened, with nearly two-thirds of private sector industries adding to their payroll or keeping them steady. January’s report adds to months of data showing that economic growth is remaining stable, if not accelerating. And after being hit hard by inflation, Americans are finally starting to feel better about the economy, according to a University of Michigan survey which showed a 29% improvement in consumer sentiment compared to November 2023, the biggest two-month increase since 1991.  

The Bad 

With few signs of weakness, the January report was described by many as universally positive. Yet, some analysts have argued that after such a big rally, further gains will be more difficult to come by. Further, despite markets buoying, stock gains did not extend across the entire market, with shares of smaller companies falling in general. These businesses may continue to suffer if the Fed takes longer to cut rates, which as reported by the New York Times, they are now in no hurry to do.  

The Unknown 

January jobs reports have been somewhat hard to read since the onset of the pandemic. While job gains have consistently been above economist’s expectations for the past few years, some believe that may be the result of shifts in seasonal hiring patterns, according to The Wall Street Journal. Further, recent high-profile layoffs from companies like UPS signal for some that demand for workers may cool in the coming months, but for now as reported by Bloomberg, there’s still plenty of evidence that employers are still hiring.  

Conclusion 

For months, U.S. jobs data has pointed to a gradually cooling labor market, which along with receding inflation led experts to believe the Fed would start cutting interest rates in early 2024. However, this “blockbuster” January report has turned that narrative on its head, suggesting a reacceleration that is likely to delay any rate cuts, at least for the time being.  

The Skills Crisis is Coming: Are You Ready? [Infographic]

Posted on by akessler

Skills in the workplace are evolving faster than ever thanks to advances in AI, the greening of the economy and shifting demographics. But, our latest research, The Skills Crisis Countdown, shows that HR leaders seem oblivious to the urgency of the coming change.

Nine out of 10 of HR pros surveyed said up to half of their workforce will need new skills within the next five years. Yet, only 7% are actively investing in reskilling programs right now, and 45% admit they have no plans underway to prepare their people for the shifting skills landscape.

Our data quantifies the massive disconnect between awareness of looming skills gaps and action being taken to reskill workers. Check out the infographic below to see the stats and get ahead of the curve on developing a future-ready workforce.

Check out this infographic with key findings highlighting the worsening skills crisis.

Countdown to Skills Crisis? What Our Latest Research Tells Us About Skills Gaps

Posted on by akessler

By Simon Wright, Global Head of Talent Advisory Consulting

The workforce skills landscape is transforming at blinding speed. Automation, AI, sustainability initiatives, demographic shifts—global forces are conspiring to make skills gaps and talent shortages more acute by the day. Don’t think it’s moving that fast? Well, the World Economic Forum predicts that a jaw-dropping 85 million jobs could sit vacant by 2030, resulting in $8.5 trillion in lost revenue.

The very meaning of “skills” is shifting beneath our feet. Skills requirements have already changed 25% since 2015, and experts forecast 65% more change by 2030. However, companies still rely heavily on degrees and experience over skills when it comes to making hiring decisions. No wonder we’re careening towards a global skills crisis.

PeopleScout partnered with skills-based workforce management platform provider Spotted Zebra to survey over 100 senior HR and talent acquisition leaders globally, plus over 2,000 employees worldwide, to compare perspectives. Our new research report, The Skills Crisis Countdown, maps the skills landscape and diagnoses the disconnects between employers and their workforce.

Read on for some key findings from our report.

HR Leaders are Ill-Prepared for the Skills Crisis

According to a study by PwC, 40% of global CEOs believe their business will be economically unviable in 10 years unless they reinvent for the future. Our study revealed that nine out of 10 HR leaders believe that up to 50% of their workforce will require new skills to effectively perform their job in the next five years. Yet, when asked if they are currently undergoing or planning a workforce transformation initiative in the next three years, nearly half (45%) of HR leaders admit to having no plans to undertake one.

So, in other words, half of employees will soon be underprepared for the future, but most companies have no strategy in place to address the issue.

According to LinkedIn, 84% of members are in occupations that could have at least one quarter of their core skills affected by generative AI (GAI) technologies, like ChatGPT. So, how are HR leaders preparing for this digital transformation and the AI era? Shockingly, a full third (34%) say they have no preparations in place to prepare for new technologies. Those who are preparing emphasize bringing in outside talent rather than reskilling existing employees.

Industry Composition by GAI Segment
Percentage of LinkedIn Members by Industry

Impact of GAI on workplace skills
(Source: LinkedIn Economic Graph Research Institute)

This is likely because they lack an understanding of the skills they have within their existing workforce. Our data revealed that 68% of organizations identify skills from manager feedback, which is highly subjective. So, it’s no surprise that 56% of employees think their skills are underutilized in their current roles, and 61% think there are other roles in their organization where their skills could be utilized.

An unprecedented skills revolution is barreling down the tracks, but companies are fast asleep at the switch. It’s time to wake up and get employees future-ready or risk a global skills crisis and talent scarcity for decades to come.

Digital & Tech Skills Gaps are Widening but Tech Skills are Viewed as Unimportant

Both employers and employees dangerously underestimate the importance of tech and digital skills. In our survey, both parties listed tech and digital literacy skills with low importance. With the skyrocketing demand for tech and digital talent, this does not bode well.

skills in the workplace

Mobile apps, ecommerce and digital transformation have made technology integral to every corporate strategy. However, supply isn’t keeping up with demand. McKinsey analyzed 3.5 million job postings in high-tech fields and found there’s a wide divide between the demand for tech and digital skills and the qualified talent availability. The most sought-after skills have less than half as many qualified professionals per posting compared to average global figures. 

No wonder 63% of HR leaders in our survey admit they struggle to recruit the skills they need. Closing tech and digital skills gaps through recruitment alone is no longer sufficient. So, we were concerned when our research showed that 73% of the workforce haven’t been offered opportunities to reskill.

Organizations must invest in helping their employees evolve their skills via reskilling and internal mobility to cultivate digital and tech literacy across their entire workforce.

Case Study: Reskilling in Action

The Challenge:

A large global financial services company needed to undertake a major digital transformation program. The organization needed to acquire key digital and tech skills while leveraging the existing company knowledge of employees in declining customer service roles by reskilling them.

Previous efforts by the organization to assess employees’ suitability for reskilling were led internally and included multiple, time-consuming line manager interviews. Of even greater concern, around a quarter of those who began the reskilling program dropped out.

The Solution:

The bank worked with their long-time RPO partner, PeopleScout, and Spotted Zebra to assess customer service staff in bank branches and call centers to find ideal candidates for its tech and digital skilling program. Skills profiles were created for tech roles, which employees were assessed against to find the best fit.

The Results:

  • Redeployed 150 people, saving over $2.5M in exit costs
  • Saved over $350,000 in training and development costs
  • Reduced time investment by hiring managers
  • Reduced the reskilling cost-per-person by 70%

Employees Don’t Feel Confident in their Skills for the Future

A third (34%) of workers have doubts about how their skills will keep pace with new technology and automation. Meanwhile, just 17% of organizations are offering targeted reskilling programs for existing employees.

Where are HR Leaders Deploying Skills-Based Practices?

Skills-Based Practices in the workplace
(Source: PeopleScout and Spotted Zebra)

This imbalance spells disaster. As change overwhelms existing skill sets, most workers will begin to feel unsure of their career paths or left struggling to stay relevant.

Investing in reskilling makes solid business sense. We must bridge the gap between workers anxiously facing uncertainty and leaders failing to invest in their resilience. HR leaders who empower their workforce with adaptable skill sets today will drive continued success in times of swift and sweeping change.

Finding a Talent Partner to Support Your Skills Transformation

The agility to match emerging skill requirements will soon become a competitive necessity. If you haven’t started your skills-based transformation, now is the time.

In our survey, one in two HR leaders admitted to a lack of understanding of skills-based practices. If you’re struggling to understand how to take advantage of skills-based practices in your organization, PeopleScout is here to be your guide.

As a recruitment process outsourcing (RPO) partner, we can help you understand the skills within your existing workforce as well as the external market supply and demand. We offer solutions across the skills agenda, from skills-based talent intelligence and market insights, building skills frameworks, and creating skills-based success profiles to redesigning recruitment processes, skills-based hiring strategies, and helping you maximize the potential of your existing workforce.  

To learn more about PeopleScout’s skills-focused talent solutions, get in touch.