I was fortunate early in my career to work for an employer who paid for me to earn my Master’s Degree. I wanted to do something to give back to my employer for this great benefit and so for my thesis, I developed a Career Development Program for the company. As part of the program I put together a skills inventory and a skills bank..
A skills inventory is a database of all the skills that each employee possesses in an organization. This enables employers to plan for the future; where they may be deficient and what the employer may need to focus on with regard to future recruiting to ensure the long-term success of the company.
A skills bank is a list of skills required to do each job and where those skills can be obtained. This enables employees to have an understanding of what they need to know if they have a particular interest in a certain position as part of their career development.
Whether it be for internal or external use, having a program where people know what skills are required and where to go to get the skills aids to the success of the organization.
If you have more questions, I suggest consulting with an experienced HR professional.