Labor Market Analytics
By analysing millions of macro-economic data we answer your labor market related questions.
Industry:
IT services for airliners
Locations:
16 worldwide
Employees in 2019:
2.000+
Received service/product:
Strategic skill management
Faced challenges
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Nothing is as constant as change – this is especially true for the IT industry. Like any other IT player, Lufthansa Systems Hungary is challenged by a rapidly changing skill landscape, uncertainty about future skill requirements and a highly-competitive labor market.
Together with HRForecast, Lufthansa Systems Hungary conducted a strategic skill management project with the aim to bring transparency into the existing skill supply, the future skill requirements, resulting skill gaps as well as tailored measures to tackle the gaps.
Questions to be clarified
- How can a big data concept bring transparency into the skill landscape by analysing existing employee data?
- Are the trainings provided to employees future-oriented?
- What are the major skill gaps Lufthansa Systems Hungary will be facing in 5 years?
- Does the local labour market supply the required skills that are needed to close the competency gap?
- What talent management measures can be undertaken in recruiting and talent development to proactively tackle the gaps?
Project Approach
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/ 1 Data Source Identification
Together with the client, we analyze and extract data systems that comprise skill-related data sources (e.g. training system, CVs, assessments, etc.). Data is extracted by client and stored on a local machine.
/ 2 Skill Registration and Analytics
Machine learning technologies scan the (unstructured) data and extract information related to skills, knowledge and competencies. A comprehensive analysis uncovers skill potentials and risks on the required level of detail (department, team, role, etc.)
/ 3 Strategy & Planning Workshop
Skill insights are presented in a management workshop, where future skill requirements and capacities are determined. The workshop is jointly moderated by client project lead and HRForecast.
/ 4 Insights & Recommendations
Skill gaps, benchmarks and labor market insights are shared with the client. Measures and strategies are formulated to answer the client’s questions.
Key Insights & Value-Adds for the Client
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The client obtained key insights related to the skill structure of the workforce and
- future-fit
- hidden-skills
- trend-coverage
The client…
- gained transparency on the local labor market availability, competition and costs
- build a basis to adopt a strategy for recruiting and development and to formulate concrete measures
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