During the 1960s, the idea of corporate training was sold to companies who realized that their employees, at all levels, had a skills gap. So, what is a skills gap and what are the solutions that companies hiring need for the future of work? We discuss how companies can identify skills shortages and how to go about closing the skills gap in your workforce.
What is a skills gap and how do you identify it?
A skills gap is a noticeable difference between the demands of a job or task and the person’s ability to complete it, according to the objectives of the job. Companies usually notice the difference when it’s too late. Revenue is down, customers have left and the business hasn't accomplished its goals. This often happens due to changes in the business model, where the business fails to deliver, communicate and manage the new model effectively.
Historically only Fortune 10 companies have had the resources and planning capabilities to prevent this from happening. No longer is that the case. Being proactive and preparing for the future of work is something that every company can do and will help you in identifying skills gaps.
The workforce skills shortage
75% of HR professionals who revealed that they’re having recruiting difficulties said there is a shortage of skills in candidates for their job openings. (Source: The Global Skills Shortage Report, SHRM)
pepelwerk offers modern hiring solutions to enable companies to source talent for the work they need today and prepare for the work of tomorrow. Our solution, powered by skills-based job matching technology, is a game-changer!
Learn more about Resource Planning and Talent Optimization.
How do you go about closing the skills gap?
To solve workforce skills gaps, we recommend you find and teach people willing and interested in learning. Over the last 20 years, online learning, formal education, specialized corporate training and in-house learning and development programs faced the biggest pivotal change in history - the digital era.
The Internet has made information instantly accessible, although not all of the information is credible. Regardless, this resource presents challenges and opportunities for teaching and learning.
The role of education in closing the skills gap
Companies hiring should focus more on teaching and training and the role they play in ensuring they have skills they need, now and in the future. Hiring has changed and methods used for identifying skills gaps and closing them has too. pepelwerk brings credible education closer to jobs than ever before, as we want companies to get work done. Sometimes that requires making education and training part of the job and talent matching process. We can make that a reality in a seamless way, by matching job seekers and graduates to learning programs and employment.
Learn more about how pepelwerk can help you close the skills gap by exploring our Hiring Hub and Educator services.
Who is responsible for closing the skills gap in the workplace?
Do you think the company or the Talent should pay for the education needed to close the skills gap? Your answer will depend on your budget and role. Companies tend to cut learning and development budgets first when they're looking to reduce costs. They prefer to lose someone who can’t do the job and seek out a ready-baked candidate than develop them. But this isn’t a progressive approach in today’s era.
pepelwerk has a different approach for our Companies Hiring, where we ensure that your process makes sense for your company and its future. We recommend that you don’t over-invest or under-invest in your people. You should try to find the right balance for closing the skills gap.
Listen to pepelwerk CEO, Kim Kelley, discuss the subject of closing the skills gap in this video:
What is pepelwerk's Hiring Hub and how does it work?
HR professionals and experts highlight the issue of the workforce skills gap. A 2019 study from Wiley Education Services revealed that 64% of HR leaders surveyed said there was a skills gap in their company. However, we're starting to see employers reskilling workers, hiring from new talent pools and reaching out to educational institutions. This suggests that businesses identifying skills gaps and realise that cost-effective approaches to closing them.
Close the skills gap in your industry
Would you like to follow the lead of these companies and start investing in people wisely? pepelwerk can help you to reduce your skills shortage, build a healthy talent pipeline and future-proof your business. Tap into pepelwerk’s vast experience and proven methodologies to keep work moving for your company.
Learn more about pepelwerk’s services for Companies Hiring and see how we're transforming the hiring game.
pepelwerk is a modern hiring solution for businesses, powered by skills-based job matching technology. We connect graduates and job seekers to work and learning opportunities, helping to close the skills gap. It's time to prepare your business for the future of work. Why not get a free pepelwerk demo today and see how we can transform the way you hire?