Data: An Anchor for Decision- Making to Build the Future Workforce Management System

Title

Data: An Anchor for Decision- Making to Build the Future Workforce Management System

Creator

Shukla S.; Rishiraj A.; Lucas Y.

Description

In this digital era, the change in business environments and the nature of work lead to skill gaps. Training the workforce on desired skill sets must fill these skill gaps. Data play a crucial role in identifying the skills needed and helping organizations to plan the future workforce. Data is essential for any organizations growth and success in the dynamic market. Knowing the skill set in advance allows organizations and individuals to plan the business and skill requirements well. The way work is done may be impacted by these structural changes as the world is changing swiftly. Building the abilities necessary for the uncertain environments of the present and future environments is also crucial for training the employees. However, such skills must first be acknowledged and appreciated before being developed. Empirical data must support the methodology for valuing such abilities and skills. This chapter outlines the significance of data in skill identification for individuals to be future-ready. Finding the most relevant abilities in a given environment is the first step toward their formalization and acceptance at the systems level. It also presents the importance of creating skill matrices for students and organizations. The skill matrix objectively quantifies skill value for specific occupations and the possible trajectories to acquire those skill sets. This metric will allow policymakers to navigate this fast-changing workforce landscape and focus resources to ensure that skills are needed as students transition into the workforce and have skills that enable them to transition. 2024 selection and editorial matter, Alex Khang, Sita Rani, Rashmi Gujrati, Hayri Uygun, and Shashi Kant Gupta; individual chapters, the contributors.

Source

Designing Workforce Management Systems for Industry 4.0: Data-Centric and AI-Enabled Approaches, pp. 65-83.

Date

2023-01-01

Publisher

CRC Press

Coverage

Shukla S., CHRIST (Deemed to be University), Karnataka, Bengaluru, India; Rishiraj A., CHRIST (Deemed to be University), Karnataka, Bengaluru, India; Lucas Y., CHRIST (Deemed to be University), Karnataka, Bengaluru, India

Rights

Restricted Access

Relation

ISBN: 978-100092334-6; 978-103240824-8

Format

Online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.1201/9781003357070-5

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85173886314&doi=10.1201%2f9781003357070-5&partnerID=40&md5=b377968065858b0c71e6f2177d041b9b