{"id":84829,"date":"2025-05-13T17:06:31","date_gmt":"2025-05-13T17:06:31","guid":{"rendered":"https:\/\/degreed.com\/experience\/experience\/?p=84829"},"modified":"2025-05-22T16:48:43","modified_gmt":"2025-05-22T16:48:43","slug":"skill-development-at-scale-what-state-street-is-doing-differently","status":"publish","type":"post","link":"https:\/\/degreed.com\/experience\/blog\/skill-development-at-scale-what-state-street-is-doing-differently\/","title":{"rendered":"Skill Development at Scale: What State Street Is Doing Differently"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li><em>State Street is the 2025 recipient of the <a href=\"https:\/\/degreed.com\/experience\/blog\/these-learning-leaders-are-redefining-workforce-development\/\" target=\"_blank\" rel=\"noreferrer noopener\">Degreed Visionary Award<\/a> for Client Ambassador of the Year, recognizing an organization that serves as an exemplary model for other Degreed clients.<\/em><\/li>\n<\/ul>\n\n\n\n<p>What happens when one of the world\u2019s most trusted financial institutions decides it\u2019s time to realign its skill development strategy?<\/p>\n\n\n\n<p>At <a href=\"https:\/\/www.statestreet.com\/us\/en\/asset-manager\" target=\"_blank\" rel=\"noreferrer noopener\">State Street<\/a>, the answer was clear: Build an enterprise-wide, data-driven, executive-backed foundation for workforce agility and internal mobility\u2014embedded in the company\u2019s annual business strategy and talent action plans.<\/p>\n\n\n\n<p>With more than 50,000 employees globally and 11% of the world\u2019s financial assets flowing through its systems daily, State Street needed a more strategic approach to skill development, one that could keep pace with evolving business demands and employee expectations.<\/p>\n\n\n\n<p>\u201cThe business came to us and said, \u2018We have no way of seeing what skills employees have. We have no way of understanding where our skill gaps are, where we need to upskill, where we need to reskill,\u2019\u201d said Laura Sullivan, Vice President, Talent Development.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/explore.degreed.com\/wp-content\/uploads\/2025\/05\/LENS-2025_Laura-Sullivan_State-Street-1024x683.jpg\" alt=\"\" class=\"wp-image-84845\" style=\"width:600px\"\/><figcaption class=\"wp-element-caption\"><em>Laura Sullivan, Vice President, Talent Development, at State Street, shares the impact of SkillsFIRST at Degreed LENS 2025<\/em><\/figcaption><\/figure>\n\n\n\n<p>That challenge sparked the launch of SkillsFIRST. More than an HR initiative, it\u2019s a key lever putting skills at the core of performance, retention, and career advancement. Powered by Degreed and integrated into Workday, SkillsFIRST is helping leadership align talent supply with business critical needs\u2014and empowering employees to take ownership of their skill development.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/explore.degreed.com\/wp-content\/uploads\/2025\/05\/In-Post_1_LENS_Visionaries_State-Street--1024x576.png\" alt=\"\" class=\"wp-image-84850\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>From Limited Insight to Connected Capability<\/strong><\/h2>\n\n\n\n<p>Before launching SkillsFIRST, State Street lacked a unified view of its workforce capabilities, while employees sought greater clarity around growth paths and more targeted development support.<\/p>\n\n\n\n<p>Rather than licensing costly inference tools, State Street used Degreed and Workday to build its own Skills Library, customized using a blend of industry benchmarks and internal expertise. With input from subject matter experts, learning teams defined seven core skills for each role and created tailored Role Plans in Degreed.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/events.degreed.com\/LENS2025\" target=\"_blank\" rel=\" noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"200\" src=\"https:\/\/explore.degreed.com\/wp-content\/uploads\/2025\/05\/CTA-_LENS-2025-On-Demand_1280x250-1-1-1024x200.png\" alt=\"\" class=\"wp-image-84477\"\/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How the Degreed\u2013Workday Integration Functions at State Street<\/strong><\/h2>\n\n\n\n<p>At State Street, the integration between Degreed and Workday forms the backbone of the company\u2019s skills-first strategy\u2014bridging employee development with strategic talent planning.<\/p>\n\n\n\n<p>The process begins in Degreed, when employees explore curated learning content and engage with the personalized Role Plans. Employees are encouraged to assess their proficiency using the Degreed eight-point scale, and then to initiate structured career development conversations by requesting manager input on their ratings.<\/p>\n\n\n\n<p>Skills will ultimately be moved to Workday to power a range of critical HR capabilities including skills matching for open positions, internal job recommendations, and strategic workforce planning\u2014all grounded in real-time evidence of capability from Degreed.<\/p>\n\n\n\n<p>This integration ensures that career development isn\u2019t just aspirational\u2014it\u2019s operational, measurable, and deeply connected to business outcomes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Strategic Impact That Scales<\/strong><\/h2>\n\n\n\n<p>In just the first year of implementation, State Street has seen meaningful results:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Millions of dollars saved <\/strong>avoiding costly, third-party skill inference and talent marketplace tools.<\/li>\n\n\n\n<li><strong>50% of employees onboarded<\/strong> into SkillsFIRST<\/li>\n\n\n\n<li><strong>1,200 additional internal promotions<\/strong> in six months<\/li>\n\n\n\n<li><strong>11% increase<\/strong> in employee engagement scores tied to career development<\/li>\n\n\n\n<li><strong>34% of internal hires<\/strong> supported through SkillsFIRST data, avoiding costs of external hiring<\/li>\n\n\n\n<li><strong>21,000+ monthly skill ratings<\/strong> generating rich talent insights for planning and learning<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/explore.degreed.com\/wp-content\/uploads\/2025\/05\/Visionary-Award-25_1280x720_State-Street-1-1024x576.png\" alt=\"\" class=\"wp-image-85162\" style=\"width:700px\"\/><\/figure>\n\n\n\n<p>These outcomes reflect more than a technology shift\u2014they signal a cultural commitment to transparency, growth, and mobility.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Lessons for Talent Leaders<\/strong><\/h2>\n\n\n\n<p>For HR, Talent, and L&D leaders looking to operationalize skills, State Street\u2019s journey offers proven strategies:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Begin with clear business objectives<\/strong>, not just system capabilities.<\/li>\n\n\n\n<li><strong>Build shared language<\/strong> through a unified skills library and role plans.<\/li>\n\n\n\n<li><strong>Integrate platforms<\/strong> to turn skills data into workforce intelligence.<\/li>\n\n\n\n<li><strong>Empower employees <\/strong>to participate in\u2014and benefit from\u2014the process.<\/li>\n<\/ul>\n\n\n\n<p>By positioning skills as the connective tissue across performance, planning, and development, State Street has redefined how a complex global organization can unlock potential and stay future-ready.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Learn more.<\/strong><\/h2>\n\n\n\n<p>SkillsFIRST didn\u2019t just transform learning at State Street\u2014it improved retention, boosted engagement, enabled internal mobility, and delivered measurable cost savings.<\/p>\n\n\n\n<p>Find out how a similar approach could accelerate outcomes at your organization. Let\u2019s talk.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/degreed.com\/experience\/request-demo\/\" target=\"_blank\" rel=\" noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"200\" src=\"https:\/\/explore.degreed.com\/wp-content\/uploads\/2025\/05\/Demo-CTA-1280x250-2-1024x200.png\" alt=\"\" class=\"wp-image-84855\"\/><\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>See how State Street built an enterprise-wide, data-driven, executive-backed foundation for workforce agility and internal mobility.<\/p>\n","protected":false},"author":64,"featured_media":84870,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[579,592],"tags":[547,714,551,542,544,712,581,566],"post_folder":[],"class_list":["post-84829","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-learning-development-strategy","category-skills-talent-mobility","tag-career-mobility","tag-degreed-visionary-awards","tag-learning-strategy","tag-skill-data","tag-skill-development","tag-skills-strategy-2","tag-success-story","tag-workday"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Skill Development at Scale: What State Street Is Doing Differently - Degreed<\/title>\n<meta name=\"description\" content=\"See 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