Work intelligence has been advanced by Lightcast to support organizations in linking jobs, tasks, and skills. The advancement provides for better workforce decision making as businesses adjust to new working environments. For over two decades now, Lightcast has been studying billions of labor market signals that include jobs, people, companies, and skills. Lightcast uses this information to connect all this data to give a broader picture of work.
With the revolutionization of workplaces by AI technology, employers need quality data for their decisions about workforces. However, data is spread in job architecture, HR management systems, learning systems, and talent marketplaces. Therefore, there is a need for organizations to have a common understanding of work according to changing conditions in the market.
Lightcast achieves this through work intelligence. It is a framework that uses labor market signals to link jobs, tasks, and skills. Furthermore, connected taxonomies and employer demands assist organizations to understand changing workforce needs.
“Leaders are being asked to make consequential business and workforce decisions with data that was never designed to answer the questions they face,” said Jennifer Seith, CPO of Lightcast. “Understanding jobs alone isn’t enough. Skills alone aren’t enough. Organizations need to understand how jobs, tasks, and skills connect, how they are changing in the market, and what those changes mean for their own workforce. That is the role of Work Intelligence.”
Linking Jobs, Tasks, and Skills
Lightcast Work Intelligence consists of three key aspects. Jobs show how work is structured, whereas tasks denote actions and possible AI applications. On the other hand, skills highlight the necessary competencies of individuals for the performance of their jobs. Lightcast currently provides information about more than 1,800 specialized jobs, 34,000 skills, and 36,000 job-related task statements. Additionally, regular updates and external benchmarks allow businesses to monitor changing workforce needs Also, Lightcast assists in governance, transparency, and organization-related information. Thus, businesses can use Work Intelligence in their workforce strategies.
Supporting Enterprise Technology and Workforce Planning
Lightcast takes an independent approach that can be integrated within any existing HR technology infrastructure. Such an approach allows companies to link employee insights without developing isolated data sets.
“Jobs, tasks, and skills are becoming a foundational layer for how enterprises understand and manage work. Lightcast’s combination of external labor-market intelligence and an independent approach to the HR technology ecosystem gives it an important position in that evolving market,” said Stacia Garr, Co-Founder and Principal Analyst, RedThread Research.
Moreover, Lightcast supports major HCM ecosystems and HR technology providers. Organizations can integrate workforce intelligence into existing platforms and workflows.
Turning Workforce Intelligence Into Action
Lightcast Work Intelligence is used for AI transformation, strategic workforce planning, job architecture, talent development, and employee mobility. For instance, one of the largest global apparel companies is using the solution to map the jobs and benchmark the roles against market information. Moreover, it identifies skills that will grow and decline in the future and enhances workforce frameworks.
Lightcast provides its features by offering data, software, and consulting services. Further, Lightcast’s task taxonomy enables the use of Talent Transform, which is software that can manage job, task, and skill intelligence. This will assist employers in making workforce plans that are aligned with the market and invest in AI solutions.
“The goal is not simply to give organizations more workforce data,” Seith said. “It is to give them a trusted understanding of work that stays current, connects across their organization, and helps them make better decisions about what they need next.”
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News Source: PRNewswire.com
