Four Indian Institute of Technology-Kharagpur alumni have launched a unique human resource technology start-up — Spotmentor Technologies — in the corporate skill development and redevelopment space.
Transformation
Co-founder Deepak Singh said organisations nowadays were subject to disruptive transformation due to advent of technology and digitisation, and changes were multifold, including automation of existing work, new generations entering the workforce, technology dismantling existing business models, new skills getting created and old skills becoming obsolete.
“We at Spotmentor have created the first learning technology platform which helps an organisation develop necessary capabilities by identifying what skills are needed and where each employee is, and then creating hyper-personalised learning and development plans,” said Mr. Singh. He said the life expectancy of a firm in the Fortune 500 was around 75 years earlier, but today it is less than 15 years and declining all the time, which was the result of organisations losing their competitive advantage.
“The only competitive advantage which can be sustainable and ensure that an organisation keeps pace with the changing times is human capital and it needs continuous replenishment in terms of training and development,” Mr. Singh added.
Skill standards
Spotmentor’s machine learning algorithms identify skill standards for all roles in real time by analysing the industry landscape, against which it can benchmark the employees. On the basis of these identified skill gaps, the learning content is sourced from multiple sources and structured into individualised learning plans. The platform then monitors business impact by tracking changes in critical business performance parameters.
“All these activities, currently done through multiple services and software, and resultantly take years to be accomplished and the number of learning administrators to be implemented properly, can be done in real time using a single platform,” said Mr. Singh.
