Tackling Skills Shortages head on

Industry is moving faster then ever before, the skills required are evolving at lightening speed. This pace however is creating a disconnect with education that is widening the gap with curriculum development unable to stay ahead and in turn impacting the employability of graduates. With the evolution of micro-credential learning we need effective ways to eliminate skills miscommunication, skills bias and have robust skills measurement.

Here are some of the hard impacts from this disconnect

• Only 50% of employees globally hold jobs matching to their level of education - International Labour Organisation (ILO, 2021)
• An estimated 85 million jobs will go unfilled globally by 2030 due to skills shortages
• 89% of employers report difficulty finding employees with the requisite skills for job openings

Industry reap the rewards when there are highly matched Graduates with the skills they need to be competitive. Therefore it is essential that industry feed into the educational system in order to get the results. Here are just some ways companies can play their part to support Universities

1. A new way to connect

Universities having a visualised skills mapping platform where companies are invited to feed in and enable the measurement of current skills being developed against future skills needs in real time. This will give incredible insights to new curriculum development.

2. A common skills taxonomy

Fundamentally if the three key parties (student, university, company) describe the same skill differently this leads to a disparity. Having a common skills taxonomy powered by AI will eliminate any exclusion, any bias and ensure skills gap accuracy.

3. Visualising skills data to be shared

Skills data held on excel or csv offer little value if you are not a data analyst, yet many Universities and companies have rich data sets stored this way. Visualising anonymised skills data in real time and sharing with key stakeholders will increase participation and further sharing.

4. Skills first matching for opportunity

Once there is a common skills language, it can be used effectively in matching on skills first between Graduate and opportunity to ensure the learning has not been in vein. Extending it from hard skills to soft skills will be key to support inclusivity and not miss out on any future stars. It can be further developed to match student to alumni mentors anonymously.

In conclusion

Uniting education with industry under a common skills language that is visualised will greatly reduce the rising skills shortages. Whether you are a Head of Department, Careers Office, Recruiter or Hiring Manager, the impact of visualised skills data mapping and matching will provide faster comprehension of skills being trained, where skills development is needed and the employability of graduates.

You are welcome to learn more about what we do and our 2030 Skills Mission 1 min video

To schedule a Skills Meeting to see how we can support your skills gaps and future proof your skills needs - book here