Digital credentials offer a competitive edge for businesses in a variety of ways. We recently shared how digital credentials help businesses save money. In this post, we’re diving into how digital credentials will help your business save another valuable resource: time.
- Save time hiring and recruiting. Recruiting talent takes time. The Society for Human Resource Management’s Human Capital Benchmarking Report states that the average time it takes to fill a given position is 42 days. For white-collar jobs in areas like engineering, finance, and marketing it’s even longer. The average time-to-hire for white-collar positions is 68 business days, according to a Gartner study Recruiting Slowdown Hurts the Bottom Line. Digital credentials help hiring managers and HR leaders quickly identify internal and external talent, and decrease the amount of time spent on recruiting.
- Save time on training and development. Wouldn’t it be great to quickly see a snapshot of an employee’s knowledge, skills and abilities, and areas needed for additional training and development? Digital credentials make that a time-saving reality. Skills-based hiring can reduce time-to-train by 50%, and reduce turnover from 25-75%, enabling companies to focus on hitting goals instead of dealing with employee churn.
- Save time ramping up new initiatives. As the pace of technology evolves faster than ever, so does the need for efficiently identifying talent to ramp up new initiatives. Digital credentials enable companies to identify talent pools by competency, location, or level of expertise using heat maps. “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 David Leaser, senior manager of innovation for IBM’s Training & Skills organization in a blog post for the Association of Talent Development.
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