Transcript:

Understanding Talent- One of the Biggest Challenge for the Future of Workforce

Welcome, everyone to Tao.ai Presents Work Insight episode. In this particular episode we talk about one of the biggest challenge facing the working world, and almost every HR leader that we talk to is somehow impacted or concerned about this. And it is called retooling workers. What are some of the things that businesses could do to understand and retool their workers?

So in this particular episode we talked about or we will talk about some of the fundamentals of what needs to be done before we even start talking about retooling? So when we started talking, and to give a background, so I represent Tao.ai, and Tao.ai is an AI-led career platform that helps professionals understand their skills, and from there on where they need to get to. And then we did an extensive research and we still are talking to a lot of HR leaders and businesses around what they do and what’s happening around their side of the world.

And I cannot stress enough how much we converse with leaders around how they are approaching this idea of retooling or retraining their workers.

So in a typical model you have your team, you see there’s new emergence of technology that you end up using or you will be using, so you are setting your team to get trained in that particular skill set. But we could not emphasize enough how catastrophic this strategy is, because number one it underestimates internal workforce who are located somewhere else but who would be an expert in this field already. So you may be overspending by educating someone who may not like to be going there.

And on the other side you could be running alone in understanding that this is where you want to get to. So many times we are not equipped with enough resources to tell us where we want our team to go. So with that limited knowledge we do invest company resources in educating and retooling the workforce.

So what needs to be done? I am a data scientist by trade, so I understand the data pretty well and so does my company. So when we talk to a lot of HR leaders we ask them, “Hey, before you talk about upgrading your skills or credentials, tell me do you have a good enough understanding of your skills or credentials,” right? And that pretty much stuns almost every conversation that we find ourselves into, because unless and until you have a clear, a thoughtful, methodical understanding of the skills that your workers that your company has contains, you won’t be able to do a good enough job in reeducate or retraining that workforce.

So let me give you an example. One of the companies that we were helping with, they were looking for a bunch of machine vision engineers. And this company has tens of thousands of IT professionals. And we asked them, “Hey, why do you want us to find you those professionals,” right? And then we ask them, “Hey, can just email your tens of thousands of professionals and see whoever is passionate about this topic of machine vision and AI?” And they have no template on that.

And so what does that mean? That would mean that eventually they will end up hiring two professionals from outside. So the company is now tens of thousands of professionals, plus two. And then if there’s anyone inside that organization who’s already well-attuned in this idea of machine vision and AI, he will not find a good enough project or new enough project to work with. So that itself means that inefficiency? It sparks this idea of if had this company would have a clear understanding of the skills that their workers possess and how much they love that skill and they are good at it, this company could help.

And that is in a way one of the very fundamental aspect of in our … even Tao.ai’s architecture, because we want to understand the skill of the workers and we want to understand if these workers are obsolete or not, so we can empower them in a very tactical manner? And that, companies could do themselves, these services, if they want to use our help, they’re more than welcome, but all it takes is just cataloging the skills of the workers that you have.

And from there on understanding from the catalog if the skills that you have are current or they are getting obsolete. And from there on you can say, “Okay, this is the trend line that we are seeing on the scale, and this is where the workers are. So maybe these set of workers are already there, so let me empower them. And the rest who are actually around the obsolete line, maybe I can start repurposing these workers and start bringing them to the trendy line as well so that they can help shape the future of this company.”

So on a very high level, the summary of what I want to share with you all, is it is extremely critical and important to understand your worker. It is extremely critical and important to understand their skills. It is extremely important for you to understand your company’s skill catalog. And also it is very important for you to understand what skills are trending, what skills are getting obsolete, because sometimes a skill to a company, and this we have seen, we have pulled out companies from making this mistake, ourselves, that certain skills you think would be your next gen skill for your company but they end up getting on the obsolete line. Since the company is not aware of what’s happening outside of their bubble, sometimes they find that information very hard to find on if the skills that they are chasing after is … will that skill keep them at the leading edge of evolution?

So that’s why having a good catalog, having understanding of your skills would be paramount in making sure this companies exist in the future.

So with that, thank you so much for spending time with me. And we will keep bringing interesting insights to you. And what do you think about this topic? Leave your comments below. We will respond to it. And also find Tao.ai, and see if that’s of any help to you, guys. Thank you so much again, and till the next episode – stay curious and keep growing. Thank you.

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