Closing Skills Gap: The Need Of The Hour

Rapid digitization, the rise of new technologies, and the unexpected arrival of COVID-19 have radically altered the way organizations operate. The remote and hybrid styles of working are two byproducts of the ongoing disruptions in the economy. Aside from the mode of working, the world is witnessing another problem, that is, widening the skills gap. 

In this blog we’re going to discuss the following key topics in-depth:

1. What is the skill gap?
2. What are the factors responsible for widening the skills gap?
3. Why do you need to close the skills gap?
4. How to identify the skills gap?
5. How can eLearning solutions help you close the skills gap?

Ready? Let’s get started.

1. What is the skills gap?

A skills gap describes the mismatch between the skills possessed by employees and the skills required for a job. 

Today, the skills gap has become a huge problem in almost every industry. Lack of training facilities and the inability of employees to adapt to new technologies have led to unemployment and underemployment. Both the organizations as well as the employees are suffering due to the skills gaps. 

2. What are the factors responsible for widening the skills gap?

1. Baby boomers-

The baby boomers refer to people who were born between 1945-1964. At present, this generation must have entered their 50s, 60s, and 70s. 

The major problem with this generation is that they’ve become too old to keep themselves updated with new technologies. Also, when they retire, they take away with them years of expertise and experience which are vital to be transferred to the new generation. 

2. Current training isn’t effective-

In traditional classroom-based training, employees are overloaded with information that is hard to process and comprehend. Also, if sales employees are expected to memorize all the manuals and product information word to word, do you think they can deal with real-world situations?

The absence of contextual learning, experiential learning, mobile learning, and microlearning leads to the creation of an alienated and dead workforce.

3. Lack of talent-

A college degree may increase one’s theoretical knowledge and fetch a good job but it hardly leads to any skill enhancement. Hence, there is a lack of talent that possesses the required skills that a job demands.

3. Why do you need to close the skills gap?

Closing the skills gap is the need of the hour to stop ongoing resignation and retrenchment in various industries. Many employees leave their jobs due to increased stress levels and their inability to do tasks efficiently. When organizations find that existing employees are unable to meet the technical requirements and financial goals, they show employees the exit door. 

With the growing demand for new digital technologies like artificial intelligence, machine learning, blockchain, augmented reality, virtual reality, cloud computing, and data analytics, you need to ensure that employees are well acquainted with these new advancements in the technology field.

Closing the skills gap through effective training can reduce employee turnover and increase productivity and efficiency. 

4. How to identify the skills gap?

To close the skills gap you need to identify the skills gap. You need to know the areas or fields where employees are failing to deliver the desired results. Skills gaps can be identified through regular assessments or by simply gauging the performance pattern and growth of employees.

1. Identifying soft skills gap-

Soft skills are non-technical, character traits and interpersonal skills that enhance an individual’s ability to do a job. 

Key soft skills companies need in today’s changing time include:

• Leadership and management (especially for remote or hybrid teams)
• Critical thinking and decision making
• Creativity
• Flexibility and adaptability
• Digital literacy and communication

2. Identifying hard skills gap-

Hard skills are quantifiable or technical skills needed to perform a specific kind of job. 

Key hard skills that are in great demand at present include:

• Artificial intelligence and machine learning
• Data science and analytics
• Automation
• Business strategy
• Cloud computing

5. How can eLearning solutions help you close the skills gap?

If you wish to close the skills gap, then you should embrace eLearning solutions. An LMS like iSpring provides the best training solutions to upskill and reskill the workforce. 

Here are some benefits of eLearning:

1. It’s affordable-

An LMS software is all you need to kick start employee training. There is no need to spend on infrastructure, refreshments, electricity, or water bills.

2. It’s flexible-

Employees can learn at their own pace anytime and anywhere. They can access a variety of eLearning resources and courses to learn new skills.

3. It tracks employees-

An LMS keeps track of employees’ performance, growth, and behavior. It generates automated reports which show how seriously are employees taking their training.

4. It provides relevant training-

An LMS provides relevant and useful suggestions to employees, which eLearning course will suit their skills and which is the most trending and demanded eLearning courses in the market. 

Wrapping up-

The skills gap is a global crisis and needs immediate attention. The best way to close skills gaps in the modern world is to adopt eLearning solutions.