Data Driven approach to bridge skill gaps

CXO’s of the organization have a mission-critical situation of fulfilling skills required for the business to grow. Keeping the pace with future skills is imperative and easier said than done.?

Recruiting people with desired skills from external talent market place is often expensive and time is a constraint. On other hand, upskilling existing employees with futuristic skills is equally time bound and requires detailed plan of action and resource allocation.

As we witness the growth in business, the skills required for survival and surpassing the competition gets intense. Skills do change with time and are not future proof. The incumbency of coping with the fastrack skill changes lies with the leaders of the organization.?

Skill development strategy can be successful when it incorporates a plan to:

1.?????Learning/Expertise from expiring skills

2.?????Reform and cultivate the evolving skills

3.?????Focused approach on acquiring emerging skills

With digitization extending arms, existing skills will sooner turn obsolete and future skills are in huge demand and pricey. CHRO’s of the organization are focussing on finding ways to leverage the existing skills and acquire new skills in a cost effective approach.

Recently, researchers are introducing concept of skill adjacencies and stepping stone skills.?

1.?????Skill adjacencies?can be referred to those set of skills which are related to few other skills in direct or indirect pattern. This is the basis of upskilling strategy. Identifying the connection and dependencies of every skill can help us form skill maps.?

2.?????Stepping stone skills?are those skills which an individual already possess and can act as stepping stones to build upon the new skill set required. Organizations can utilize the benefits of existing skills and add upon the same.?

A detailed information gathering and analysis of all the skills available versus skills in demand can help create a well-knit skill universe. With this, talent strategy can be built to meet the growing needs of the business alongside career growth of employees. This would be a win-win situation for both employees and organization resulting greater employee satisfaction.?

-By Shilpa Kunchurkar