Know more about our Skills Inventory to gain comprehensive insights into its features and functionalities.
The Skills Inventory is a powerful tool within our platform that enables you to effectively track, manage, and enhance your skills development journey. From understanding its functionalities to use it for organizational growth, this guide will equip you to make the most of the Skills Inventory and empower you. Let's delve into the details and unlock the full potential of Skills Inventory!
To view the Skills Inventory:
Go to Insights->Skills Inventory.
The skills inventory opens in a new window.
Here is a preview of our new Skills Inventory!
Skills Inventory presents the list of all the skills within your organization, along with the validations for each skill. It provides an overview of your organization's current progress in collecting skill-related data. It showcases the proficiency level for each skill determined by iMocha's multi-channel skills validation technique. The multi-channel skills validation mechanism includes the weightage assigned by the manager for each validation and the overall skill proficiency is measured using the weightage assigned. It provides insightful analysis of skill strengths and helps you identify the skill gaps determined based on the weighted average of each skill validation mechanism.
You can view the total number of skills and the employees in the organization and get an insight into the size of your organization and its skills health. It indicates the percentage of employees who have validated their skills, enabling you to take steps to increase this validation. It shows the skills growth percentage of your organization for the selected duration.
Total skills is the number of skills added to the job profiles created in the account.
Total employees is the number of employees enrolled with Job Profiles created in the account.
Employees validated is the percentage of employees who have validated at least one skill through any of the methods out of the total number of enrolled employees with a job profile in the account
Skill growth rate is the measure of the change in skill gap over a specified period. It is calculated by taking the average skill gap of all skills in the current month and subtracting it from the average skill gap from the past one, three, or six months, then dividing it by the average skill gap in the current month. This result is then multiplied by 100 to obtain the result in percentage.
For example, in August, if the average skill gap for 30 skills was 30%, and in September, it increased to 45%. Then, the skill growth as of September is calculated as ((30 - 45) / 45) * 100, resulting in a -33% skill growth.
Here, the skill gap is negative because the average skill gap in September (45%) is higher than it was in August (30%). A higher skill gap percentage indicates that there is a larger difference between the required skill level and the current skill level of employees.
Conversely, the optimal skill growth would be positive. This means the average skill gap should decrease over time, indicating that employees are improving their skills and becoming more aligned with the required proficiency levels. A positive skill growth percentage indicates that employees are progressing in their skills and getting closer to meeting the job requirements.
To view the skills insights for a particular time frame:
- Click the View by filter.
- Select the time frame to view skill for that particular time frame.
All the skills are categorised and displayed for easier understanding.
To narrow down your search:
You can use the below filters to narrow down your search and focus to intervene on the skills that matters.
- Click the
Filter icon.
The following filters appears:
- Select the parameters as required to narrow down your search.
You can filter the skills based on the following three parameters:
Skill Criticality: You can filter out the skills identified and marked to be critical as per the business objectives or view all the skills implemented for the organization.
Skill Gap: You can filter out the skills with certain skill gap ranges. The skill gaps are determined by the multi-channel skills validation including the weighted average assigned by the manager.
Skill Growth: You can filter out the skills with certain skill growth determined by the multi-channel skills validation used to identify the skill proficiencies of the employees. - All the skills that satisfy the criteria are categorised and displayed for easier understanding.
- Click Manage Skills.
The following pop up appears:
- Select all the skills that you want to edit.
- Select the skill criticality and priorities as needed.
Critical skills are marked using a star sign, the priorities are color-coded based on their level of importance, and the number of employees who have completed the skills validation is displayed as shown in the image below.
- Click the
Close button to save and close the changes.
- Click each skills to access detailed information, enabling you to gain insights into training investments as well as their supply and demand.
The page with the detailed skills information appears as shown below:
- The Description section provides an outline of the specific skill, detailing its attributes. It is followed by the information on Related Skills and Training Materials associated with the skill.
- The Skills Health of the particular skill, determined by the iMocha's multi-channel validation including the weightage assigned by the manager, skill gap, skill growth, and your organization's need is highlighted.
Skill Gap is the difference between the average required proficiency of all employees and the average actual current proficiency of employees in the specified skill is then divided by the required proficiency and multiplied by 100. The required proficiency score and actual current proficiency score are determined through a weighted average of multiple validation mechanisms for each skill.
For example, take a look at the table provided below.
That is ((7 - 5) / 7) * 100 = 28.57, which approximates to 29%.
This means that, on average, the employees' current proficiency is approximately 29% below the required proficiency level.
Skill Growth is calculated by taking the average skill gap of the skill in the current month and subtracting the average skill gap of that same skill from one, three, or six months prior. This difference is then divided by the average skill gap of the skill in the current month. The result is then multiplied by 100 to express it as a percentage.
To further elaborate, the average skill gap of a skill is determined by subtracting the actual current skill proficiency from the required skill proficiency and then dividing this by the required proficiency. This value is then multiplied by 100.
For instance, if the skill gap for a specific skill in August was 29% for three employees and in September, the average skill gap improved to 24%. Then, the skill growth rate is calculated as follows:
Skill Growth Rate=[(29−24)/24]×100≈20.83% ~ 21%
Rounded to the nearest whole percentage, this yields a skill growth rate of approximately 21%.
- The Skills Supply graph indicates whether there are employees available who possess the specified skill and have validated it. The bar graph displays the skills breakdown of the employees for the selected period.
Skill Availability is the number of employees who have validated their skills using any of the methods for the specified month.
Skills breakdown displays the weighted average score of these validations for the selected month. - The Job Profile Leaderboard displays the skills growth and skill gap analysis of the selected skill for the employees who have validated their skills for the Job Profiles associated with it.
Job Profile Leaderboard of employees is based on their job profiles, prioritizing those with the highest skill gap in available skills. It provides information for each job profile, including the count of employees, the average skill gap among employees within that profile for the specified skill, and the average skill growth among those employees in that same skill.
For example,
Employee 1, under Job Profile 1, has an actual skill proyficienc of 6 and a required proficiency of 7. Their skill gap is calculated as (6−7)/7)×100
which equals 14.28% (approximately 14%).
Employee 2, also under Job Profile 1, has an actual skill level of 5 and a required proficiency of 8, resulting in a skill gap of (5−8)/8×100 which is 37.5% (rounded to 38%)
To determine the average skill gap for Job Profile 1, we add the individual skill gaps (14% and 38%) and divide by the number of employees in that profile, resulting in an average skill gap of 26%.
On the other hand, Employee 3, assigned to Job Profile 2, has an actual skill level of 8 and a required proficiency of 5. Leading to a negative skill gap of -38%.
This comprehensive system allows us to evaluate and rank employees based on their job profiles and the corresponding skill gaps, enabling us to make informed decisions about skill growth and utilization within the organization. - The Multi-Channel Skill Validation provides detailed information about the skills proficiency determined by the process of assessing and validating an employee's skills through multiple channels and its weighted average.
- Skill validation percentage
Self Validation represents the percentage of employees who have validated their skills solely through self-rating. It is calculated by dividing the number of employees who have self-rated their skills by the total number of employees and multiplying the result by 100.
iMocha Validation indicates the proportion of employees who have validated their skills exclusively through assessments. It is computed by dividing the number of employees who have completed assessments by the total number of employees and multiplying the result by 100 to express it as a percentage.
Manager Feedback is the percentage of employees whose skills have been validated through manager ratings. It is calculated by dividing the number of employees who have received manager ratings by the total number of employees and multiplying the result by 100 to express it as a percentage.
AI Inferred is the percentage of employees whose skills have been validated through AI inference. It is computed by dividing the number of employees who have undergone AI-based validation by the total number of employees and multiplying the result by 100 to express it as a percentage. - Detailed breakdown
Self Validation is the average proficiency score for employees, validated through self-rating only for the specified skill, it is calculated by dividing the actual proficiency scores of employees who completed self-rating by the total number of employees who self-rated. For instance, if Employee 1 completed self-rating with a score of 5, and Employee 3 also completed self-rating with a score of 5, while another employee did not complete the self-rating, the average skill proficiency in self-rating will be (5 + 5) / 2, resulting in an average score of 5.
iMocha Validation is the average actual proficiency score for employees, validated exclusively through iMocha's assessments for the specified skill, it is determined by summing the assessment scores of individual employees and dividing by the total number of employees. For example, if Employee 1 received an iMocha score of 7 and Employee 3 had an iMocha score of 5, then the iMocha validation will be (7+3)/2, resulting in an average score of 5.
Manager Feedback is the average actual proficiency score for employees, validated exclusively through manager rating for the specified skill, it is determined by summing the Managers rating of individual employees and dividing by the total number of employees. For example, if Employee 1 received a managers rating score of 6 and Employee 2 had an a managers rating score of 3 , then the average Managers rating will be (6+3)/2, resulting in an average score of 4.5~ 5.
AI Inferred( Coming Soon) is the average actual current proficiency score of employees, validated solely through AI inference for this specific skill.
2. Click the Priority drop-down to edit the priority, if needed.
A confirmation message with successful update notification pops up.
3. Click the Close button to save and close the changes.
4. Click the 
Back button to go back to the skill inventory.
For any queries mail us at support@imocha.io.