Should Your Organisation Hire for Skills, or Capabilities

September 15, 2020

By Ashish Mediratta, Vice President and Principal, Talent Transformation at Eightfold India

Many researchers have indicated that most jobs in the year 2030 have not been invented yet. Organizations worry today about finding the “right” people with the “right skills” if they are to continue to thrive / survive. And rightly so: how does one keep pace with a scenario of redundancy of “skills”, most of which have a shelf-life of a couple of years? And, how does one prepare an organization for “future skills”, when even the roles have not even been invented yet?

Workplaces usually look for a potential employee to have a certain set of skills. After all, success requires the right skills. Skills can be gained, and used to learn yet more skills and to reach new achievements. They are measurable and are the currency of any successful business strategy.

Skill is defined by the American Heritage Dictionary as “proficiency, facility, or dexterity that is acquired or developed through training or experience.” Competing and winning means getting a solid understanding of the skills held by a company’s workforce and job candidates.

How will companies hire and retain employees, if skills are continuously changing? Going beyond skill is capability. A capability is the combination of the skills, knowledge, and experiences employees need to succeed both now and in the future.

A skill shows what an employee or job candidate can do now. A capability is what someone could do, even if they haven’t done it before.

When a company can understand the capabilities of every one of its workers-and each of the individuals can also understand their own capabilities and potential-the company gains significant new powers to stay competitive in their current and potential markets. Instead of looking only for someone who knows a given computer language, for example, they could hire someone who knows a similar language, and could pick up quickly on the newer language. And the company could help prepare itself for emerging growth areas.

Or, imagine an employee who’s a little bored in their job, and looking for a new challenge. Instead of quitting, if a company and the employee had a good understanding of each employee’s capabilities, the employee could find an internal job, one they have the potential to do, even if they hadn’t done it previously. They haven’t done that exact job before. The company could see who in its own workforce has the capability to work in this growing area. Essentially, an organization should aim to understand the “capabilities” of its employees, rather than keeping records of their “skills.”

But why are we talking about offering a job to someone who never did it before? We are preparing for a new job market which does not exist at the moment. The world is adopting new technologies of the 21st century, like AI, ML, and robotics that will change the skill set requirements for jobs that do not even exist today. The skill sets required for those jobs might be fundamentally different from the ones today. Thus, the laser focus on finding people with the right skill sets must be widened to finding people with capabilities.

Capabilities are intangible assets. You can’t see or touch them, yet they can make all the difference in the world when it comes to market value.

What we can conclude is that skill sets and experiences are so variant that hiring for skills is inadequate for the future of work. What is more important is to be capable of doing a particular task. Changes in technology and business processes have always opened new job requirements. To fulfill those roles, if organizations look only for skilled workers or people with prior experience, then there might be a very tight talent pool to choose from or maybe no one to do that job at all.

Widening the scope of search from skills and experience, to capability, will increase the chances of finding a wider pool of talent that will prepare a company for future success in disciplines that do not even exist today.

# # #

About Eightfold

Eightfold.ai delivers the Talent Intelligence Platform™, the most effective way for companies to identify promising candidates, reach diversity hiring goals, retain top performers, and engage talent. Eightfold.ai’s artificial intelligence-based platform empowers enterprises to turn talent management into a competitive advantage. Built by top engineers out of Facebook, Google, and other leading technology companies, Eightfold is based in Noida, and Mountain View, California. Recently, Eightfold.ai published its first book, What’s Next for You: The Eightfold Path to Transforming the Way We Hire and Manage Talent. For more information, visit www.eightfold.ai.


How AI Can Solve the Talent Challenge

August 4, 2020

By Ashish Mediratta, Vice President and Principal, Talent Transformation at Eightfold India
Talent acquisition is getting even more challenging. Businesses are transforming quickly, making traditional job descriptions less useful than ever before. Skills that have one meaning today such as “communication” have another meaning in the future. Organisations are looking at talent requirements that were non-existent earlier.
Organisations don’t know how to fix this. It starts as a strictly departmental recruiting problem or an HR problem, but in the big picture, it’s a business problem.
Organisations suffer when:
  1. People leave jobs despite there being opportunities internally they didn’t even know about. So often, employees leave for new challenges, and companies suffer, having spent time educating and onboarding the employee. The business loses someone who knows how to get things done within that company. It decides to look externally to fill the position. What nobody realizes is that instead of letting go off a familiar face, the organisation could have retained the employee by introducing them to other opportunities that were available internally. This could have saved the organisation the trouble of finding new, untrained talent to fit in, and also let the current employee explore newer roles and experience a sense of growth and expansion in their own careers.
  2. Employees unaware of newer opportunities in the same organization. Like mentioned in point 1, employees themselves are mostly unaware that with their present skill-sets, they can fulfill other roles in the same organisation. The employee often misinterprets the amount of experience required in a particular role. The company does too: it gives undue emphasis to the experience of the candidate, and less to the kind of skill set one comes with. Then employees miss out on moves which could have opened up exciting prospects for both the employee and the company. In a radio station, for example, there could be a vacancy for a new radio jockey. Here, the recruitment team may look at profiles outside the organization. But there could be an employee with great vocal communication skills working internally in an entirely different department, who may look to move out some day to a different role from its current one. Here, both the employer and employee will never see that there is a possibility of internal hiring and replacement.
  3. Companies cannot find enough of the right people for their roles. Several factors can make job successions challenging. An organization in one place may have trouble finding a replacement in that city. Or, the organization thinks no one is available; as already discussed earlier, companies tend to mistake skills and talent with experience. Someone may have the skills, but the employer only knows how to search for experience. Also, with changing dynamics at workplaces, with departmental activities at times getting merged, the candidate will have to juggle many roles if they get the job, which makes job descriptions vague. To fulfill such roles, companies have to look at an extensive number of candidates and go through numerous filtering sessions. This is both time and resource consuming, and could take so long that the right candidate for the role may no longer be available. Positions stay vacant, and the business suffers.
AI Coming to the Talent Mobility Rescue
Artificial intelligence is the best shot at doing away with the redundant HR processes that we had already discussed.
AI can help HR and talent teams address challenges such as filling open roles, succession planning, short employee tenures, and lack of diversity at scale. Enterprises are embracing advanced AI technologies to solve talent challenges, and their employees are more accepting of these technologies than not. The talent crisis is real, and AI has the potential to solve it for their full-time employees.
New technology is helping HR teams to become more effective, competitive, and productive.
AI can be highly effective in:
  • Breaking down what is needed for a job, so a company can hire for skills, not “who is doing that job now”
  • Helping companies see who has the skills needed to do a job, searching data from current employees, applicants, and alumni from existing enterprise systems and public sources in one Talent Network.
  • Moving past resumes/CVs and job descriptions (we can forget about Boolean search strings, which they safely belong in the past)
  • Predicting accurately, enabling decision making based on potential
  • Ignoring personal characteristics, greatly improving diversity
  • Creating a positive experience resembling the most-used consumer technologies in the world.
An AI-based talent platform can give organizations more accurate and more efficient predictions of a candidate’s work-related behaviors and performance potential. Unlike traditional recruitment methods, such as employee referrals, CV screening, and face-to-face interviews, AI is able to find patterns unseen by the human eye. The talent acquisition platforms take in data from employees who are currently employed, passive and active candidates, referred candidates, and alumni combined into one Talent Network and bring to the surface high-ranking, qualified talent for any job. With candidate-identity anonymizing, AI platforms can also eliminate unconscious bias to greatly improve diversity in hiring.
With a Talent Network, an AI-based platform can improve the internal mobility of employees by revealing internal transfer and promotion opportunities. Such platforms can expedite the processes of immediately finding, ranking, and displaying the best-fit jobs for any candidate visiting a career site, increasing the rate of qualified applications.
AI-based Talent Intelligence Platforms can aid in achieving improved candidate response, and also in speeding up hiring cycles, reducing attrition, lowering cost-to-hire, and creating greater diversity & inclusion.
With AI, Talent Networks are continually updated. So, if someone applied for a job several years ago with your company, or left the company years ago, the Platform automatically enriches the profile of that person to capture their recent experience and skills they’ve gained. That helps identify the right individuals for any need, whether those individuals are applicants, employees, sourced external talent, and even contingent workers.
# # #
About Eightfold
Eightfold.ai delivers the Talent Intelligence Platform™, the most effective way for companies to identify promising candidates, reach diversity hiring goals, retain top performers, and engage talent. Eightfold.ai’s artificial intelligence-based platform empowers enterprises to turn talent management into a competitive advantage. Built by top engineers out of Facebook, Google, and other leading technology companies, Eightfold is based in Noida, and Mountain View, California. Recently, Eightfold.ai published its first book, What’s Next for You: The Eightfold Path to Transforming the Way We Hire and Manage Talent. For more information, visit www.eightfold.ai.

AI Will Play a Major Role in Shifting Talent From Industry to Industry

June 18, 2020

NEW DELHI, India – June 18, 2020 – AI will come to a rescue in a climate where some industries are dramatically shrinking and others are expanding, according to Eightfold.ai. AI will finally allow companies to see what skills their organizations need, and who has those skills, even if they were laid off from jobs in totally different industries.

Eightfold, in collaboration with the U.S. India Business Council (USIBC) and Invest India, recently hosted a webinar on ‘The Future of Work and Skills in the Post-COVID World.’ It attracted CXOs from across industries. The webinar highlighted and provided solutions on how to deal with the new nature of jobs and skills that are and will continue to hit the markets.

The session featured Eightfold CEO and Founder Ashutosh Garg, along with other industry leaders from GE, HCL Technologies, and the Department for the Promotion of Industry and Internal Trade (DPIIT). The webinar was moderated by USIBC President Nisha Biswal.

Each speaker talked about how the pandemic-driven recession will disrupt the future of the job market.

Garg said AI will come as a saviour for talent, “exchanging talent from one industry to another industry.” A restaurant employee, for example, who has lost his or her job may think that all they know is food. But, Eightfold’s AI can uncover what that person really knows, such as budgets, inventories, payroll, hiring employees, and supply chains. Eightfold’s technology helps companies hire based on skills, without over-relying on resumes and job descriptions.

Ultimately, the goal, Garg says, is “enabling the right career for everyone in the world.”

Watch the Webinar here

# # #

About Eightfold

Eightfold.ai®, delivers the Talent Intelligence Platform™, the most effective way for companies to retain top performers, upskill and reskill the workforce, recruit top talent efficiently, and reach diversity goals. Eightfold’s deep learning artificial intelligence platform empowers enterprises to turn talent management into a competitive advantage. Built by top engineers out of Facebook, Google and other leading technology companies, Eightfold is based in Noida and Mountain View, California. Recently, Eightfold published its first book, What’s Next for You: The Eightfold Path to Transforming the Way We Hire and Manage Talent. In April 2020, Eightfold launched Talent Exchange, a place to help all companies and individuals impacted by COVID-19 to flatten the unemployment curve. For more information, visit www.eightfold.ai


Eightfold and EdCast Team Up to Deliver AI-Powered Personalized Career Planning and Corporate Learning

May 8, 2020

AI leaders’ partner to offer employers and employees integrated reskilling and upskilling based on personalized needs

NOIDA, India/MOUNTAIN VIEW, California – May 8, 2020 – Eightfold.ai®, the inventor of the Talent Intelligence Platform™, the first AI solution for enterprise talent needs, today announced a partnership with EdCast, the AI-Powered Knowledge Cloud company, to offer personalized career planning options and recommendations for skills development. The joint solution empowers employees to develop their own career paths and related skills to help them achieve their selected goals.

The skills people need to pursue their career goals have never changed more quickly, but not enough employees have access to the right training or insights into their own career potential,” said Ashutosh Garg, Co-Founder and CEO of Eightfold. With our mission of helping everyone find the right career path for them, partnering with EdCast helps us provide the right training for every employee to reach their career aspirations.”

In response to trending needs, including reskilling, self-service, and remote capability, the two organizations integrated their solutions so their enterprise customers can provide personalized career paths and learning opportunities to their employees.

As EdCast helps its enterprise customers meet changing demands related to virtual learning and distributed workforces, we’ve seen how important talent management is to companies and their employees,” says Karl Mehta, CEO and Founder of EdCast. “The integration of our Learning Experience Platform with Eightfold’s Talent Intelligence Platform offers a seamless talent and knowledge management solution to help enterprises invest more effectively in their employees.”

The partnership integrates Eightfold’s Talent Intelligence Platform, a solution that uses deep-learning algorithms to provide career planning recommendations for each employee, with EdCast’s Learning Experience Platform, which uses AI to identify and curate learning content within an organization, organizing it based on many factors including skills and certifications. The joint solution gives employees the ability to discover the skills they should gain for their short-term and long-term goals and access the content that will help them develop those skills.

The Eightfold and EdCast partnership addresses critical needs within the modern workforce:

  • Defined career path: According to the Eightfold Talent Intelligence and Management Report 2019-2020, 68 per cent of surveyed U.S. employees say their employers don’t fully recognize their potential, and 64 per cent of employees said they would be more motivated if they had a clearer career path. Yet, 75 per cent of their CHROs and CEOs in the U.S. say internal mobility is a key focus. According to the study, most businesses haven’t delivered successfully on their desire to provide mobility for their employees, providing a gap that Eightfold and EdCast can fill.
  • Personalized corporate education: The growth in distributed work, more than just remote work, is a trend of many years that is now accelerated by the COVID-19 pandemic. Employees need access to relevant information at the right time, at their own pace, and in a self-service manner.
  • Lifelong training: In order to upskill and reskill, employees need training not only when they onboard, but also throughout their career at a given company and beyond. Distributed organizations typically face challenges in employee development, especially during an era of remote-first working.

# # #

About Eightfold

Eightfold.ai®, delivers the Talent Intelligence Platform™, the most effective way for companies to retain top performers, upskill and reskill the workforce, recruit top talent efficiently, and reach diversity goals. Eightfold’s deep learning artificial intelligence platform empowers enterprises to turn talent management into a competitive advantage. Built by top engineers out of Facebook, Google and other leading technology companies, Eightfold is based in Noida and Mountain View, California. Recently, Eightfold published its first book, What’s Next for You: The Eightfold Path to Transforming the Way We Hire and Manage Talent. In April 2020, Eightfold launched Talent Exchange, a place to help all companies and individuals impacted by COVID-19 to flatten the unemployment curve. For more information, visit www.eightfold.ai.

About EdCast

EdCast is the AI-Powered Knowledge Cloud solution for unified discovery, personalized learning and knowledge management across the enterprise, including work teams that are more remote and highly distributed than ever before. Its award-winning platform is used internationally by Global 2000 companies and large government organizations, including NASSCOM and World Economic Forum, to solve the discovery and curation problems across all external and internal knowledge sources for all employees, wherever they are located. EdCast’s offerings include its Learning Experience Platform (LXP), the EdCast Marketplace, and MyGuide’s in-app guides, intelligence, and automation for business processes and workflows. For additional information, visit www.edcast.com or follow on Twitter @EdCast.


Eightfold.ai Appoints Sandesh Goel as Managing Director of New India Office

September 17, 2019

Seasoned Technology and Operations Executive Joins to Accelerate Growth in the Region

CA, USA / NEW DELHI, India – September 17, 2019 – Eightfold.ai, the creator of the Talent Intelligence Platform, has announced the appointment of Sandesh Goel as Managing Director for India operations. This senior leadership appointment follows a period of significant growth, with enterprise customers added on four continents, significant partnership announcements, and a Series C fundraise that brings the total investment in Eightfold.ai to over US$55 million.

Eightfold.ai India, under the supervision of Sandesh would be providing Eightfold AI platform to India enterprise businesses. Sandesh is responsible for driving Eightfold business operations across the country.

With this expansion of the senior management team in India, Ashutosh Garg, CEO & Co-founder at Eightfold.ai said, “Sandesh Goel brings a wealth of team building, customer and sales management experience and valuable knowledge to the team here at Eightfold.ai. He is a valuable asset to our organization. With Sandesh on board, we are confident of expanded outreach in India and across the region.”

Sandesh spent his first 10 years of his career in the US, building innovative products and teaming up with other renowned engineers. Over the next 12 years, he was bootstrapping and leading high performance IT teams for various companies. He has more than 65 issued US patents in the area of wireless networking and has driven key technology initiatives at Marvell, Cisco, Aruba HPE, and many startups. Being among 0.001% of the top folks in IIT Entrance examination, he holds a Bachelor’s degree in Computer Science from IIT-Delhi and a Masters degree from the University of Texas at Austin.

Right talent is critical for any organization. Throughout my career, I have learnt that a great hire can make all the positive difference and a bad hire can be a huge drain on companies’ time and revenue. When I first heard about what Eightfold.ai does, a lot of the concepts resonated with the way I often felt and simply wanted to be a part of this potential hiring“, said Sandesh Goel, Managing Director at Eightfold.ai. “I am quite excited and honored to undertake this new role. I look forward to working with a team of tech enthusiasts, all driven towards a common goal of integrating the latest technologies like AI to re-define HR operations.”

Artificial intelligence has already started automating numerous repetitive processes smart work by analyzing big data to identify and leverage new opportunities in almost all sectors. As HR is a strategic business function, we believe there is a vast scope to adapt to newer technologies. AI can drastically transform the way the HR industry operates. And that’s exactly what Eightfold.ai is committed to“, added Mr. Goel.

Built by co-founders Ashutosh Garg and Varun Kacholia, distinguished engineers out of Google and Facebook, Eightfold.ai’s ‘Talent Intelligence Platform’ empowers enterprises to solve the major challenge faced by chief executives and chief human resource officers today – hiring and retaining top talent.

# # #

About Eightfold.ai Eightfold delivers the Talent Intelligence Platform, the most effective way for companies to identify promising candidates, reach diversity hiring goals, retain top performers, and engage talent. Eightfold’s patented artificial intelligence-based platform empowers enterprises to turn talent management into a competitive advantage. Built by top engineers out of Facebook, Google and other leading technology companies, Eightfold is based in Mountain View, California, USA. For more information, http://www.eightfold.ai/


%d bloggers like this: