Pune, India 26th July 2023: iMocha, a leading SkillsTech platform today launched its Skills Intelligence Cloud, an AI-powered platform to revolutionize enterprise hiring, talent management, internal mobility, and workforce planning processes. This innovative solution provides HR and business leaders with real-time access to skills data across their organization, enabling them to forecast, predict, and effectively address skills gaps to build a future-proof organization.
The launch of iMocha’s Skills Intelligence Cloud comes amidst the rising global call for a skills-first approach to talent management. The World Economic Forum’s 2023 Report on Putting Skills First has recently revealed that over 100 million individuals could directly benefit from such a shift. The report also estimates that by 2030, a skills gap could leave 85 million jobs unfilled globally, leading to a staggering $8.5 trillion in unrealized annual revenues.
Responding to this pressing need, iMocha’s AI-powered Skills Intelligence Cloud transforms each job role and employee into skills profiles with a precise set of proficiencies, enabling CHROs to develop industry-specific skills taxonomies and ontologies for their organization. Leveraging a combination of multi-channel skills validation and AI-inferred models, iMocha empowers organizations to create a workforce that is well-equipped for the future.
“Skills are the new currency, and they are also transforming at a rapid pace. For businesses to stay ahead of the curve, they need to harness their organization’s skills data on a real-time basis,” said Amit Mishra, Founder & CEO of iMocha. “By capturing skills data at the most granular level and layering it with AI, our Skills Intelligence Cloud will revolutionize people analytics and skills-gap analysis, empowering enterprises to stay prepared for future and technological disruptions.”
According to Sujit Karpe, the CTO & Co-founder of iMocha, “The Skills Intelligence Cloud empowers CHROs and business leaders to adopt a skills-first approach and is specifically designed for organizations that prioritize continuous learning, employee development, and data-driven decision-making.”
Some of the key benefits that iMocha’s Skills Intelligence Cloud will unleash include:
- Effective talent management, recruitment, and retention strategies with data-driven decisions
- The future-proof organization with strategic workforce planning; with a clear understanding of the organization’s skills landscape, HR can strategically plan for future needs.
- Increased employee engagement and retention: by understanding and focusing on the skills of the employees, organizations can create personalized development programs, leading to increased employee engagement and retention.
- HR can plan training and reskilling programs more effectively by having a real-time view of an organization’s skills inventory. It gives a comprehensive view of the available skills, skill gaps, demand vs supply of skills, and areas for development.
- Improved hiring efficiency: availability of a clear skills taxonomy and ontology improves hiring efficiency by quickly identifying the skills needed in potential hires. This leads to a shorter time-to-hire and better quality of hires.