Skill Gaps: The negative impact and ways to overcome them
Dwindling profits, waning competitiveness, high employee turnover — the culprit behind these challenges is none other than #SkillsGaps. These elusive gaps in critical abilities and knowledge have emerged as a serious obstacle for HR managers and business leaders, demanding immediate attention.
In this edition of?the People Leaders?newsletter, we embark on a journey into the world of skills gap identification and resolution. Along the way, you'll discover statistics that paint a vivid picture of the urgent skills and talent shortage crisis.
We'll unveil the most effective strategies and tactics to overcome these lingering gaps within your organization and offer an overview of the hidden expenses that silently erode your bottom line when skills gaps are left unaddressed. Enjoy the reading!??
?? Picked From Our Library
How to Close the Skills Gap: Strategic Approaches to Overcome Talent Shortages
In this comprehensive article, we provide you with a practical guide to conducting a thorough skills gap analysis within your organization. We delve into the process of identifying the critical abilities that may be lacking and offer valuable insights on the best methods and tools to address these gaps effectively.
Skills Gaps: The Hidden Costs of Ignoring Employee Development
Despite increased awareness among organizations about the negative impact of skills gaps, the hidden costs associated with the long-term consequences of lacking critical skills can often go unnoticed. Read the article below and discover some of the less apparent expenses related to skills gaps.?
?? Tips from HR Superstars
We hope this new column has already become a habit for you and that it provides helpful tips from other HR peers like yourself. In this edition, we've found useful Doug Hammond's insights on how data is your best friend in the process of identifying and closing the skills gap in your organization.
Doug Hammond?is the Division President at Randstad Inhouse Services?and has years of experience in Business Development and Leadership.
?? Hand-picked articles we loved
领英推荐
World Economic Forum: Skills-gap crisis: 4 ways the public and private sectors can join forces to reskill workforces at scale?
"Businesses, governments and academic institutions must align efforts to address the growing skills-gap crisis and social inequities as economic uncertainty heightens around the world. Here are four ways governments are working with businesses and academic institutions to reskill and upskill entire populations for the digital economy amid rapid transformation."?
McKinsey: Beyond Hiring: How Companies Are Reskilling to Address Talent Gaps
This survey from McKinsey reveals that 65% of respondents have experienced (or expected) skills gaps so far, with a further 22% expecting them in the next 3-5 years. It also argues that multiple tactics to close the skills gap have been used, with reskilling proving quite successful.
SHRM: How to Conduct a Skills Gap Analysis
The author explores the necessary steps to conduct a skills gap analysis. They also argue that procrastination and the fear of discovering weaknesses are among the common missteps. Do you agree?
HBR: 4 Ways to Bridge the Global Skills Gap
The article explains the urgency of bridging the skills gap and addressing the youth employment crisis globally. It also highlights that these challenges will require actions from both companies and governments to succeed. Do you agree?
???In the Spotlight
Raluca Apostol, CPO and co-founder at Nestor is the first winner of the “Most Inspiring Women in AI in CEE” award by The Recursive.
Let's congratulate?Raluca Apostol, our CPO and co-founder, for being the first winner of the "Most Inspiring Women in AI in CEE" award from?The Recursive.?
In an exclusive interview with the publication, Raluca provided valuable insights on women in AI, emphasizing the importance of encouraging their participation. She also discussed the future of AI in HR and highlighted how Nestor's platform supports organizations in engaging, developing, and retaining top talent.
We'd like to extend our thanks to?Bojan Stojkovski?and The Recursive for such an insightful talk about the future innovation and positive impact AI tools can bring.
Thanks for reading! If you enjoyed our dose of insights about people management and the future of work ?? hit?Subscribe?so you never miss another update.
Trainer/Facilitator | L&D Business Partner | Leadership & Organizational Development
1 年Thank you, very interesting that you're addressing this urgent matter. One aspect that is frequently disregarded is the significance of the pain and pleasure principle. It is through experiencing (emotional) pain, such as fear, shame, and a loss of control, that we cultivate essential skills. However, it is unfortunate that only a limited number of companies truly grasp this concept. Those who have undergone personal transformation possess the capacity to inspire and guide others towards their own transformation.