NEW YORK, July 28, 2020 /PRNewswire/ -- LHH, the leading global provider of career transition, coaching and leadership development solutions, and Faethm, creators of a globally unique workforce analytics platform of the same name, today announced a strategic partnership that will help companies accelerate the evolution of their workforce.
"This partnership creates an incredible opportunity for LHH and Faethm to help companies accurately identify and get ahead of the impact that automation, AI, and other forces will have on their workforce, and to use real data and facts to support decisions and strategic investments in upskilling, reskilling and redeployment," said John Morgan, LHH COO and EVP Americas.
Launched in 2017, Faethm's sophisticated AI algorithms predict the impact of dynamic forces such as robotics, COVID-19 and AI on any job, workforce, company, industry, location, or economy. Their predictive modeling capability enables forward-looking analytics that indicate which jobs need reskilling versus upskilling, which new jobs may need to be added to the workforce, and the exact skill pathways that can move internal people or external hires to more sustainable future career pathways.
At the organizational level, Faethm interprets client–specific data to forecast and scenario plan around strategic, technological, and people impacts so that organizational leaders can structure, size, and equip their workforces for future opportunities. Their capability facilitates internal hiring by suggesting novel transition opportunities based on related skills and supports short-transition pathways for hard to fill roles by sourcing from the external market. The capability also enables data-driven decisions around diversity equity and inclusion categories like gender and age by showing impacts of circumstances on these protected categories of people.
"What's truly exciting about our partnership with LHH is that we can now see first–hand how our data and analytics can be used to drive short-term and long-term positive change for organizations and their people, as they develop new skills and take on new jobs that are critical to future success," said Greg Miller, Faethm Co-Founder and Executive Director.
LHH's redeployment solutions enable companies of any size and scale to turn Faethm's powerful analytics into defined actions that unlock the potential within their workforce. Working with partners like General Assembly, Penn Foster, LinkedIn Learning and others, LHH seamlessly integrates relevant upskilling and reskilling with a personalized career development and redeployment experience. In particular, General Assembly's market-leading courses and immersives on in-demand skills like coding, UX design and digital marketing are embedded in LHH's vibrant talent mobility centers, supported by assessments, career navigation, and individual coaching—all accessed through a single digital platform.
As employees renew their skills, LHH's Digital Talent Exchange uses AI matching technology to connect them with new jobs inside the company. Critical roles are filled by engaged and motivated internal hires, and the organizational costs of layoffs and recruiting are significantly reduced.
"Given the increase in pace and scope of planned and unforeseen changes happening globally," Mary-Clare Race, LHH Chief Innovation and Product Officer commented, "it's now vitally important that companies rethink traditional restructuring and recruiting practices and take steps toward the socially responsible approach of investing in upskilling and reskilling for their people, which will ultimately lead to a better and faster return than simultaneously laying people off and hiring external talent."
"As we continue to evolve Faethm and study the impact of disruptive changes on the future of work," Miller added, "we see endless opportunity to help companies' people prepare, adapt and thrive, even when faced with accelerated and unexpected change."
In April, Faethm co-published a report with MIT Technology Review on "COVID-19 and the workforce," to share data on the positive impact that can be achieved by accelerating the pace of AI innovation in this time of uncertainty. The report revealed that between 43 and 50 million jobs in the US alone could be assisted by technology, reducing health risks associated with human interaction and reducing associated business risk for organizations. Faethm has developed a new capability that enables companies to prepare their workforces for an orderly return to work and uncover how work might need to evolve in a post-COVID reality.
"Whenever jobs or tasks are automated or augmented by new technology," Race concluded, "new skills are required, which creates opportunities to enhance careers, protect employees and shape the future of work in a way that benefits society. That's the real essence and value of our partnership with Faethm."
In today's marketplace, organizations are discovering the need to turn their attention inward to find their future talent. At LHH, we help companies see the possibilities in their people. Through assessments, coaching, upskilling and transitioning, companies can realize the untapped potential within their own workforce, resulting in increased productivity, morale, and brand affinity.
A division of The Adecco Group – the world's leading HR solutions partner – LHH's 4,000 coaches and colleagues work with more than 12,000 organizations in over 60 countries around the world. We make a difference to everyone we work with, and we do it on a global scale. We have the local expertise, global infrastructure, and industry-leading technology to manage the complexity of critical workforce initiatives and the challenges of transformation. It's why 60% of the Fortune 500 companies choose to work with us. Learn more at lhh.com
Faethm is a fast-growth and globally unique SaaS platform - the world's data source for the impact of external trends on the workforce, like the Fourth Industrial Revolution and the current global pandemic and recession. Faethm blends proprietary analytics with client data to predict the impact of emerging technology on any job, workforce, company, industry, location or economy. This enables companies and governments to answer two burning questions: (1) which emerging technologies will have the biggest impact on my organization and when; plus (2) how this impact will manifest itself across my workforce - the Automation, Augmentation and Addition across roles, orgs, locations, gender and age.
Launched in late 2017, Faethm is already used by over 100 leading companies and governments spanning 21 Industries & 25 countries. For more information, visit www.faethm.ai