Using Stratigens to solve your Skills Supply Challenges

April 06 2021

Using Stratigens to solve your Skills Supply Challenges

What’s the problem?

Changing business models have led to a change in the types of skills organisations need. And the convergence of business models and vertical markets mean that there are more companies than ever competing for the same skills. Now, more than ever, businesses need to transform at pace, yet their approach to talent is causing disruption to the supply of skills a business needs to deliver its strategy.

What can organisations do to address these challenges?

Leaders in their markets are using technology to give them global visibility on the supply and demand for skills. This helps them to see where the untapped pools of talent are and to understand talent supply, location and competition.

Yet this is not just about location of skills. It is now about the ability of those people to work from home or work in an agile way based on the infrastructure that surrounds them and the co-working space available. It’s about understanding the macro environment to determine how innovative it is.

Today’s talent market has become borderless. To have visibility on the global skills economy is critical to de-risk a workforce strategy in a world that has become more global.

Businesses success relies on having the right people, in the right place, at the right time and at the right cost. HR leaders must employ facts to mitigate against attrition, allow for demographic shifts and to evolve through people as their business models change. But this is an ever-moving story and so leaders need to keep their fingers on the pulse of the macro environment to gain the competitive edge.

Using big data to inform decision making

At Stratigens, we believe that to get the whole picture, companies must have:

Data on these five areas

Through at least these 18 data points:

  1. Supply and demand for the skills needed:
    • The number of people with the skills needed in a location
    • The number of active adverts for the skills needed in a location
    • The online sources of profiles for the skills needed so talent acquisition teams can focus sourcing and engagement efforts
    • The salaries on offer companies can see how competitive (or not) they are in relation to the external market
    • The experience levels of people in a location
  2. Which companies are competing for the same talent:
    • Which companies have the most people with the skills needed so talent acquisition teams have a target list for attraction and hiring
    • The industries that employ the most people with the skills needed, so hiring managers can see aligned verticals for acquisition purposes
  3. In a borderless talent market, scarce skills will congregate in places that are attractive to talent so understanding data points such:
    • Cost of living and house prices
    • The quality of life and healthcare
    • The quality of air and pollution levels
    • The amount of time that may be spent commuting
  4. The education pipeline for the future talent:
    • An understanding of the quality of education in the surrounding area
    • The top universities in the area so graduate teams can start building close relationships with them
    • In an ideal world, a view of how talent with the skills needed flow into and out of a location and industry to give a sense of new target markets and to protect against attrition
  5. Information about the workplace:
    • The cost per desk of commercial property
    • The quality of the infrastructure to support travel and remote working
    • The carbon footprint impact of real estate and commuting in a location
    • The number of co-working spaces that could support a collaborative working environment

And lastly, technology that interprets the data and gives recommendations based on the whole picture.

If companies do not look through all these lenses to make decisions, they are not seeing the big picture and risk making ill informed decisions.

Why Stratigens?

Stratigens gives business leaders external data to connect the dots between strategy, location, business continuity and skills. We've done the hard work of analysing thousands of credible data sources so you can answer questions on skills supply, real estate, diversity and market entry. We provide the evidence to enable quicker critical business decisions, revolutionised in their logic and simplicity.

To see a short demo of Stratigens, click here.