Digital Credentials Help Companies Identify Existing Talent Pools

Have you ever looked at a company organization chart and thought, “there has to be a better way!” You’re not alone, and there’s a shift in the workplace to move from traditional functional hierarchies of departments to networks of individuals grouped by skills, according to a Bersin by Deloitte report.

Workplace organizational structures based on specific skills, instead of arbitrary job titles, can be a boon to companies that need to ramp up new initiatives quickly. Recruiting new employees takes a lot of time and money. According to a Gartner study ''Recruiting Slowdown Hurts the Bottom Line'', the average time to fill a job is 68 days. And that number has been on the rise. According to the same report, the average time to fill a job increased by 62% from 2010 to 2015.

This new approach could also help with employee retention. Giving employees an opportunity to work on new projects or initiatives can boost their job satisfaction, helping reduce turnover. And that makes a big difference to the bottom line: according to a Center for American Progress study, the average cost to replace an employee is 21% (excluding executives and physicians) of an employee’s annual salary.

Enter digital credentials. A digital credentialing program used by corporations to issue badges based on skills and achievements makes talent mapping fast and feasible. David Leaser, senior manager of innovation for IBM’s Training & Skills organization, highlighted the benefits of open badges in identifying talent pools in a blog post for the Association of Talent Development. “Badges allow you to quickly create heat maps of your talent and the skills tag level, providing insight into your talent pool that you cannot easily achieve any other way,” says Leaser.

Credly by Pearson works with thousands of organizations to power their digital credentialing programs and has issued millions of badges. 

To learn more about Credly by Pearson, schedule a chat with our team now!