Talent Gap – Reskilling the skilled

In this fast-changing era of technology evolution, the organization is facing a scarcity of potential skilled candidates. This alarm has helped organizations to work on actual skill gap analysis of the candidates, plan for their competence and execute the same for reskilling them as per the emerging nature of business other than that of legacy. Reskilling the skilled is cost-effective way for any organization when it comes to competence building and showcasing the capabilities to enhance business.

We know that business and technologies are experiencing rapid evolution and hence organizations are also bound to take a step ahead in investing towards grooming the talent. Referring to an article, it is assumed that approx. 350 million employees may need to go for changing the occupations referring to the organization’s needs in the next decade. Automation in organizations will help to free approx. 25% – 30% of productive time of employees that can further be used in other constructive work. Considering the said business paradigm, organizations might either have landed in facing a talent gap or are heading towards the same.

Skill Gap – Organization efforts for closing the same

Business and Technology are running hand in hand playing a major role in this paradigm shift. There has been a great need to address the potential skill gap majorly by data analytics and IT management. In specifying the skills with the greatest mismatch between current supply and expectations after say 5years, a major gap will widen using advanced data analytical skills.

The skill gap is one of the top priorities that organizations are either addressing or tend to address in the coming times. Decision making is going to play a major role in addressing such gaps. A major hurdle in effective decision making is a lack of visibility into skills of existing employees vs impact of reskilling on the role of an employee. Many organizations are hiring contractual employees for regular routine work and helping their regular employees to work on niche competencies or develop the same consider future prospective.

It is advised to focus on skill-building rather than hiring a new employee. Reskilling is an encouraging and cost-effective way to keep employees updated with skills as per emerging technologies and helps to boost them exploring new horizons and making a strong skill base of an organization.

Organizations must consider the following while plan for reskilling.

A clear understanding of skill that is needed in the future
Roadmap to find the gaps and strategic plan of competence enhancement to close it
Internal training sessions, buddy scheme, interdepartmental interactions on training and clear measurement criteria

Happy Learning!!!!