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JOSH BERSIN

Join the Josh Bersin Academy and Learn from HR’s Top Thought Leaders →


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Join the Josh Bersin Academy and Learn from HR’s Top Thought Leaders →



 * Home
 * Membership
   * Bersin Research is Back
 * About Us
 * Topics
   * Enterprise Learning
   * HR Technology
   * Human Resources
   * Sourcing and Recruiting
   * Diversity and Inclusion
   * Employee Experience
   * Wellbeing
   * People Analytics
   * HR Skills and Capability
 * Research
   * Employee Experience, Engagement, Hybrid Work
   * Corporate Learning, Training, Career Management
   * HCM Excellence Resources
     * HCM Best Practices SAP SuccessFactors
     * HCM Best Practices Oracle Report
     * The Definitive Guide: HCM Excellence
   * HR Technology, Vendors and Tools
   * Diversity, Leadership & Culture
   * Talent, Recruiting, and Career Mobility
   * The Big Reset Research
   * Healthy Organization
   * HR Capabilities
 * Just Released
   * Definitive Guide to Dynamic Organizations
   * Post-Industrial Age
   * GWI Project Research: Pharmaceuticals
   * Talent Climate Series
     * Time-to-Hire Factbook
     * Internal Hiring Factbook
   * Systemic People Analytics
   * Understanding AI in HR
   * Labor Market Insights: Consumer Banking
   * GWI Research: Consumer Packaging Goods Industry
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   * Definitive Guide to Pay Equity
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Insights on Corporate Talent, Learning, and HR Technology

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LIGHTCAST: THE SWITZERLAND OF THE GLOBAL SKILLSTECH MARKET

by joshbersin · Published May 22, 2023 · Updated May 31, 2023



Everywhere I go companies are focused on building a skills-based organization.
Originally fueled by the need to hire and build digital skills, today companies
are looking for skills in AI, new energy technologies, batteries, genomic
sciences, and a vast array of new platforms, products, and industry processes.

Why is this happening? There are two enormous economic drivers.

First, our industries are collapsing. Retailers are becoming healthcare
companies; energy companies are investing in solar and batteries; auto
manufacturers are becoming software companies; and banks and financial services
companies are now digital powerhouses (well, they’re certainly trying).

We study this industry convergence in our Global Workforce Intelligence program,
and our new Pacesetter research (the top 10% most transformed companies in each
industry) clearly shows that high performing companies simply have deeper skills
in new technologies and practices than their peers. They can “see around the
corner” in their business models because they understand where their industry,
technologies, and customers are going.

But there’s a second reason: people are living longer. For the first time in my
adult life the average employee life expectancy is almost four times the life
expectancy of a company. According to historic research by JP Morgan Chase, 75%
of companies disappear within 15 years. Yet we, as employees, now live into our
90s and we often have 60+ year careers. That means that we, as workers, have to
“reskill ourselves” many times during our lifetime.

Our new research on banking finds, for example, that highly skilled software
professionals are very aware of “salary-increasing skills” and they now refuse
to work for companies that don’t use new technologies or promise to give them
the skills they need for the future. So if we, as employers, are not constantly
building new skills, our employees will simply leave. (At least the high
performing ones will).

Supporting this change is a massive industry of new tools, platforms, and
systems to assess skills, infer skills, find adjacent skills, and then help
people build skills within your company. I won’t belabor you with all the
solutions, but there are hundreds of vendors selling solutions in this area.



How, do you, as an organization, make sense of all this?

Well every company is arming up with tools. Learning vendors are selling
skills-based content (our Josh Bersin Academy is built around 92 critical skills
for HR professionals, for example). Recruiting vendors are building AI-powered
skills engines to find candidates and source internal staff. Talent Marketplace
vendors are building tools to help employees find mentors, coaches, projects,
and internal positions. And big HCM vendors like Workday, SuccessFactors,
Oracle, and ServiceNow are building end-to-end career and skills platforms to
help bring this all together.

But there’s a huge missing link. How do you, as a company, possibly keep up with
all the “skills” you need to know about? How does Chevron, for example,
understand all the new skills they may need for energy engineering, power
generation, or possible new businesses in mining, solar energy, or fuel cells?
How does a pharma company like Moderna or Bayer keep track of all the new
scientific discoveries in medicine and the skills they may not even know they
need?

This is a massive, unsolved problem. As companies build these skills-based
platforms they need data. Yes, the AI systems will “infer skills” and “create
skills taxonomies” from information within your company. These systems can now
mine your resume, your job experience, and your actual work (read your
documents, your emails, your code, and your certifications) and find new skills,
adjacent skills, and emerging skills. But how do you rationalize all these lists
of skills against new jobs, industry trends, and the broad market for new roles
and careers in business?

This is where Lightcast comes in. Lightcast, which is the merger of Emsi and
BurningGlass, is the largest integrated data provider of jobs, skills, roles,
and occupational data in the world. The company has been sourcing,
consolidating, and integrating this data for more than two decades and they take
the quality and validity of their data very seriously. Every day Lightcast scans
all the jobs posted in over 40 countries to find new job titles, new skills, and
new technologies and processes entering various domains of business.



If you want to get a sense of how dynamic this is, just look at Lightcast’s
weekly skills updates. It’s astounding what they do. This company sources
information from 18 billion government data points, over three billion historic
job postings, more than 300 million employee profiles, and almost 10 million
company profiles.

They clean this data up, aggregate it, and most importantly match it to a public
skills taxonomy they maintain that shows the dynamic relationship between skills
and jobs. Lightcast also maps these skills to government occupations to let you
apply these skills to your jobs for sourcing, recruiting, and workforce
planning. And since they have historic data, you can see trending hot skills,
salaries, and even new job titles very easily.

I asked Lightcast, for example, to give me information on “people analytics”
roles in HR. They showed me that the average pay in these jobs has increased by
38% in the last three years, and that skills in SQL are rapidly declining while
skills in Python, R, and PowerBI are rapidly increasing. They also show me the
cities and states where these jobs are located, and also inform me that 32% of
these folks have Master’s degrees and 5% have PhDs.



So Lightcast data is not only validated and cleaned up, it’s also correlated
with real jobs in real cities with real wages. So if you’re trying to build a
skills-based architecture for your company, this kind of information can be
vital.

The reason I write this is not to promote Lightcast per-se, but rather to
highlight an important point. Whatever skills technology you select, the quality
and usefulness of your data is vital. As companies build more and more talent
intelligence teams and you start to access lots and lots of skills data you’re
going to be constantly saying “well, are we ahead or behind in the market for
this skill?” Or “what skills are we not even aware that we need?” This is the
type of information Lightcast can provide.

And there’s more: there are many data providers in the market. Lightcast is also
an advisory firm – they can teach you how to use this data and show you where it
fits in your skills-tech architecture. I’ve talked with many Lightcast customers
and they use this data for labor market analysis, sourcing, and important
decisions like where to locate a new facility, where to place job ads, and what
big new capability academies they should work on.

The Lightcast data is not exhaustive: there are always new skills being created.
But this is a strong, hard-working team, and I’ve found them to be exceptionally
helpful in just about any question you ask.

Lightcast has also joined us with Eightfold in our Global Workforce Intelligence
Project, and they are helping us with a series of important industry Factbooks
that I know you’ll find fascinating. The first one, which details skills gaps
and trends in Banking, will be coming out soon.

I suggest you check them out: without a source of well organized, quality jobs
and skills data, an enterprise skills initiative will struggle.

Additional Information

Understanding Talent Intelligence: The Primer

Building A Company Skills Strategy: Harder (and More Important) Than It Looks

The Global Workforce Intelligence Project: Jobs and Skills Of The Future







Tags: burning glassemsilightcastskills taxonomy




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