| INTEGRATIVE INSIGHTS ON EMERGING OPPORTUNITIES |
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cgreendale@firstanalysis.com
- A key element of workforce planning and an area where we believe many employers have significant room for improvement is optimizing talent mobility.
- Research shows that internal promotion has numerous benefits for both organizations and employees. But despite clear benefits from cultivating a robust internal talent mobility program, effective performance on this front remains elusive.
- Organizations face a number of hurdles in improving internal mobility, but we believe new technologies can help by better identifying employee competencies, skills gaps, and career aspirations and using that information to develop internal talent to match organizational priorities and to balance internal promotion with external hiring.
- We highlight several publicly traded and private companies offering innovative technology solutions for internal mobility and skills mapping.
TABLE OF CONTENTS
Includes discussion of CRM, CSOD, MSFT, WDAY, WORK and eight private companies
Overlooking the talent potential inside
Tech can help clear hurdles to internal mobility
Innovators in tech for talent mobility and skills mapping
A better future with more focus on the talent inside
Future of work index catches up to Nasdaq, valuation hits new highs
M&A activity on pace to reach two-year high in Q4
Remote learning theme remains prominent in Q4 private placements
Overlooking the talent potential inside
Barring an unforeseen plot twist in the last few weeks of 2020, the blockbuster fourth-quarter news in the future of work sector is Salesforce.com's (CRM) plan to acquire Slack Technologies (WORK). While we see many reasons for the acquisition (such as enhancing Salesforce's competitiveness with Microsoft), one benefit for customers, assuming successful execution, is better integration of workflows with CRMs to more closely tie individual workers' day-to-day activities to their employers' economic drivers. To fully realize the potential of this vision, we believe companies will ultimately need a third leg of integration: aligning their long-term workforce planning and optimization with day-to-day operations and business drivers. A key element of workforce planning, and an area where we believe many employers have significant room for improvement, is optimizing talent mobility and the mix between internal promotion and external hiring, an objective we believe will take on increased importance in the post-COVID-19 work world.