Skills reports and new platforms
September 28th, 2022
Last week, we published our Skills Tech Report! It was the culmination of months of research that included a survey and live briefings / demos with over 45 vendors, and I couldn't be more excited to share our findings.
Skills tech is technology that collects and organizes data about employees' skills. We estimate that this market is roughly $1.2B and growing. Ninety percent of the vendors in the study offer skills tracking functionality (the biggest of all functionalities).
Not surprisingly, the skills tech market is as varied (and confusing) as the skills movement itself. We had a heck of a time categorizing tech in a way that could help leaders make better decisions. But we did it! We found that most vendors can be plotted on a 2X2 matrix – using these 2 factors:
- How skills are organized (more flexibly or with more structure) and
- How employees' skills are identified (primarily by people or by tech)
The report discusses each quadrant, including the pros and cons, strengths and challenges, and how each is best suited for certain use cases.
Please check out the report and let us know what you think! We always appreciate feedback and insights from our RedThread community. And a huge thank you to all the vendors who participated in this study. Your continued support makes our work possible!