Austin, TX – September 8th 2022: Beamery, the leader in Talent Lifecycle Management, today unveiled its Universal Skills Platform and AI Talent Match capabilities.
Designed to help business leaders leverage talent data to better assess skills within their organizations, Beamery has launched the first explainable AI that can be integrated with full interoperability with existing HR systems, skill taxonomies and role architectures. These new capabilities are the beginning of a new chapter for how AI can be used more fairly and effectively to deliver on a higher quality of hire and a faster time-to-hire, and to improve employee retention and engagement through personalized paths to career journeys, gigs, learning and mentoring.
Turmoil in the global economy – with markets experiencing unprecedented levels of flux in talent attraction and retention – means that upskilling and reskilling employees to close skill gaps has become increasingly critical to business success. McKinsey research suggests that businesses able to realign HR processes to match skill needs can boost employee engagement by 50%, lower training and development program costs by 50%, and raise productivity by 40%. To achieve these benefits, organizations must transition to a skills-first approach to identify, recruit, develop and redeploy talent.
With AI increasingly integral to HR and talent processes, and as organizations explore its potential in various parts of their talent lifecycle, new mandates and laws focused on ethical use of the tool are rapidly coming into effect across the world. These have the potential to complicate deployment strategies and will introduce new compliance and reporting requirements – such as New York City’s Automated Employment Decision Tools (AEDT) law which takes effect in January 2023, impacting organizations that wish to screen residents for employment or promotion.
Beamery’s approach to AI, and its latest release of the first Candidate Preference Center to manage AI preferences, supports organizations in ensuring compliance as it enables them to give candidates control over preferences to engage with a company, including how they wish AI to be used, with those preferences automatically connecting to all other internal HR systems.
“We have reached a critical juncture for the use of AI in talent. Technology developments in the last 12 months have made it possible to use AI to solve critical problems that could not have been tackled in this way previously, but these same developments have also made it necessary for AI to be deployed with a strict methodology – one that ensures that all AI models are transparent, auditable and enable interoperability between different talent systems,” said Sultan Saidov, Co-Founder and President of Beamery.
“We are really excited to reach this critical technology milestone and excited by the opportunities it will provide our customers to better invest in their people and their talent practices. We are already seeing organizations use these new AI capabilities to transform experiences across the talent lifecycle – from deploying new initiatives that drive diversity and talent mobility, to taking approaches to workforce planning – ones that are skills-enabled and continuous. Ultimately, Beamery’s new capabilities will help our customers future-proof HR practices, and realize the full potential of their global talent by building a motivated workforce with the right skill sets in place, at the right time.”
Universal Skills Platform
Today’s business and HR leaders need accurate skills data more than ever, but are stuck with hierarchical, static, taxonomies that quickly become outdated and are difficult to replicate across disparate systems. As organizations grow, new sources of skills data bring further data management complexities. This data remains siloed and organizations are left unable to realize the meaningful insights they need.
With a powerful data foundation, and utilizing explainable AI, the Universal Skills Platform unifies skills taxonomies and different phrasing across HCM data to provide a single, skills-based language that can be applied across the talent lifecycle.
Key benefits include:
- Automating data processes to keep skills timely with a single, dynamic taxonomy. For the first time, skills become transferable between systems.
- Establishing one source of truth. Create recency, accuracy, and completeness of data.
- Getting higher quality skills insights, understanding the total context around candidates’ skills, proficiency, and potential to overcome limitations around skills from different industries.
- Flexibility to add new sources of data future proofs the entire HCM tech stack as datasets are kept up to date and synchronized.
- Enabling AI-driven suggestions that provide effective career pathing options and support.
“Organizations are desperate for intelligent skills management platforms to improve recruiting, training, and internal mobility,” said Josh Bersin, global industry analyst and CEO of The Josh Bersin Company. “Beamery’s Universal Skills Platform has the vision and potential to play this role in many large organizations.”
AI Talent Match
Beamery’s AI Talent Match dramatically reduces manual work and improves recruiter efficiency by automatically aligning job titles in context of the industry from which candidates have gained their experience, and assessing the relevancy of their associated skills. With an explainable approach to AI, the rationales behind each recommendation can also be easily understood and justified.
Key benefits include:
- Identify better talent faster, improve recruiter efficiency, and decrease time to hire.
- Explainability lets you understand why Beamery predicts someone is a good match for a role.
- Visibility into how each component in the decision is weighted (skills, seniority, etc.).
- Understand where a candidate has acquired a skill, and how long ago, to ensure skill recency in line with skills acquired in a relevant industry or sector.
- Leverage real-time AI to match skills and open roles, ensuring you to get the best fit for your hiring needs.