Skill gap analysis: Its importance and role of an assessment platform in it

"An empowered organization is one in which individuals have the knowledge, skill, desire, and opportunity to personally succeed in a way that leads to collective organizational success."- Stephen Covey.

A company's success depends heavily on the quality of work performed by its employees, and the quality of work is affected by the skills that employees possess. So, even if an organization employs the latest technology to gain a competitive edge, it will not suffice if its employees can't operate it effectively. This is when an organization needs to identify the difference between the skills possessed by the employees and the skills demanded by the market- which is a skill gap analysis. 

What is a skill gap analysis? 

A skills gap analysis is a strategy for identifying and bridging the skills shortages in an organization's workforce. It determines the gap between your organization's existing and desired skill levels, helping you make smarter business decisions and plan for the future. It must be repeated on a regular basis, especially for organizations that require strategic workforce development to stay competitive.

Need for skill gap analysis 

A skills gap analysis requires a quantifiable measure of performance to be able to identify an organization's capabilities. For the majority of organizations, financial measures such as profit margin are the most accurate indicators of performance. However, depending on the sort of organization, there may be other, more relevant metrics. A skill gap analysis is important as it can help an organization to:

• Evaluate the organization current status: The skill gap analysis identifies the gap between the current expertise of employees and the skills they will need to acquire to meet market demands. By conducting a skill gap analysis of the current employees, the synopsis of the organization will be clear. Every department can conduct a skill gap analysis periodically to assess its current asset capacities and then take further steps to rectify any gap. 
• Upskill employees: More than half of companies train and develop their employees to fill open positions. The skill gap analysis is like a blueprint that can help identify the exact gap in employees' current knowledge level. Employees can receive training in skills that you'd like them to enhance, like Excel. By providing the right training, the skills gap between current and desired can be closed.
• Helps in identifying recruitment needs: Unless the skills gaps can be minimized through training, you may need to hire to bring new skills and knowledge into the organization. Identifying areas where hiring would be beneficial for the organization can be done using performance differences between expected and actual performance. This means that, while aiding the general performance of an organization, gap analysis is also a valuable tool for determining projected recruitment needs. 

Performing a skill gap analysis will not only improve the potential of the employees but also improve the standard of the organization. This type of analysis can be done on an individual level or by the reporting managers, and for both, an assessment tool can help you realize the skill gap in your organization. Multiple test features are available in online assessment tools, and employees' skills can be measured quantitatively. 

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