Addressing The Skills Gap In Technology For Successful Digital Transformation – As companies face the ever-increasing need to increase and improve the skills of their people, skill gap analysis is an important tool. A recent study by Wiley found a significant increase in the number of HR professionals and employers who say they face a skills gap. It rose from 55% to 69% last year.

In this article, we’ll explain what skills analysis is and why it’s useful, and share three ways to analyze skills gaps. You can also download a free skills analysis template in Excel!

Addressing The Skills Gap In Technology For Successful Digital Transformation

A skills gap analysis is a tool used to measure the gap (or gaps) between the existing skills of the workforce and the gap (or gaps) needed to meet the current or future needs of the business. It identifies the skills that employees need but do not yet need to do their job or perform other tasks effectively (Antonucci, Ovidio, 2012).

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Organizations can have differences in hard and soft skills. Examples of hard skills in demand include analytics, digital communication, and project management. According to a report by the Association for Talent Development, the soft skills that are missing are critical thinking and problem solving, management and supervision skills, and communication and interpersonal skills.

With technology changing rapidly and businesses constantly changing, organizations without the right skills will struggle to keep up. When employees are not equipped to do new things, innovation is delayed, employees are underperforming or quit, and customer expectations are not being met.

HR, along with team leaders and possibly outside consultants, conducts a skills gap assessment to identify skills and knowledge that employees lack. This is often done in preparation for upcoming changes, such as new projects, process changes, and technology changes.

What Is A Gap Analysis?

With this information, HR can address skills gaps through skill development, restructuring, L&D investment, succession planning and other strategies that we will discuss later in this article.

Organizations that choose to address the skills gap problem can find solutions to this problem. Here are a few examples of how companies have identified talent gaps and taken steps to close them: NASA

The US government’s space agency, the National Aeronautics and Space Administration (NASA), relies on data scientists for its operations. Since these professionals are in high demand, they see the inside information that their colleagues have to offer. Employees across the organization had data skills, but most of the talent was not distributed.

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NASA managed to create a talent pool that identifies the skills required for various projects. It helps employees match the right skills with the projects that need those skills. Verizon

The technology company Verizon wants to prepare 500,000 people for the jobs of the future by 2030. They created a technology training program called Verizon Thrive. The 12-month Practice and Learn program trains potential candidates for the skills needed for Verizon’s technical positions.

Upon graduation, 95% of the first cohort of students received full-time employment from Verizon. Chipotle

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Chipotle restaurant chain is facing the food industry’s merger crisis due to poor performance and a shortage of skilled management personnel. In 2019, it began offering employees a loan-free college degree program that pays 100% of tuition fees up front.

Chipotle retains 3.5 times more employees among employees who participate in the program. Additionally, employees who take advantage of the benefits are 7.5 times more likely to be promoted to management positions. The introduction of AI-powered healthcare

Miriam Groom, CEO of Mindful Career and Leader Human Capital at KPMG shared an example of the talent gap in an AI-powered healthcare startup. “While their engineers were skilled at developing advanced algorithms, there was a gap in the underlying understanding of healthcare and patient design,” said Groom.

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“This discovery led the company to establish a collaborative program with TechMed. Scientists connect with medical professionals to identify in-depth situations, which allows technology to provide compassionate, patient solutions. but the company also reported an increase in employee satisfaction due to different courses.

In its 2023 report The Future of Jobs, the World Economic Forum said that 44 percent of the necessary skills and knowledge of the workforce will be affected in the next five years due to advanced technology and AI technology.

For organizations in all industries, this means that some jobs will end while the main tasks and responsibilities of others will change. This is where job restructuring becomes necessary to realign these roles and responsibilities to match the changes in work.

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Skills and knowledge that are missing from your job. You have to ask yourself, what skills are necessary for your team to work?

This brings us to why employee competency analysis is important. Here are a few reasons: 1. It gives you recognition throughout your career.

You will be able to identify which employees have the most in-demand skills and knowledge in specific business areas, and which employees have the most skill gaps.

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That way, you can track employee efforts and development on the skills that need the most attention. This will lead to the efficient use of resources to improve the performance of all teams. According to a McKinsey study, matching training and development programs with skills requirements can reduce costs by 50%. 2. It promotes learning and personal development.

A skills gap analysis helps each employee know where they need to improve in order to acquire or improve the skills and abilities they need to perform well in their current and future roles. In PwC’s Global Workforce Hopes and Fears survey, 53% of workers said their job requires special education.

It will also show which employees are making the strongest contributions and who should be promoted or promoted. It can also have a positive effect on the productivity of your employees. 3. It helps in better planning of employees.

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The systematic planning of the workforce is, among other things, to ensure that you have the right number of people.

It’s hard to start planning for the future in the right place if you don’t know where you’re at intellectually.

A skills gap analysis shows you which positions lack the required skills. From there, you can set goals and define standards to get employees where they need to be. 4. It can improve your recruiting efforts.

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You have to know what you are looking for in order to find it. Recruiting strong candidates is easier if you can identify those whose skills are a good fit with the skills needed to be successful in a particular job.

You can also develop new talent acquisition strategies that will target and attract the type of people you want. 5. It creates a competitive advantage.

When you combine all of the above, you will be able to create a competitive advantage and stay ahead of your competition. You will know the strengths and weaknesses of your employees. This way, you can better plan training and development and recruiting to keep your team running smoothly.

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“Assessing the skills gap in today’s era is not only about identifying skills that are missing, but also about creating an organizational culture of continuous learning, innovation and collaboration.”

When it comes to assessing skill gaps, these three steps sit comfortably in the context of an organization’s development process. Here are the details: Part 1: Quantification and Evaluation

The first step in the evaluation of the skills of the employees is to define the scope and identify the necessary skills.

A Guide To Conducting A Training Needs Analysis [free Template]

There are ways to determine whether a skill is valuable or not. If an employee lacks a certain skill but still completes the job satisfactorily, that skill is irrelevant. On the other hand, if an employee completes a certain task but the results are unsatisfactory, the missing skill is needed.

The second step involves data collection and analysis. The purpose of this section is to review the work currently in progress, explain the importance of the work, and ask about the skills needed to successfully complete the work.

HR technology can help you in many aspects of this. A talent management system, for example, can act as a searchable database that collects all the information from your performance appraisals and talent evaluations.

Closing The Employability Skills Gap

Kinga Golebiewska, People & Culture Partner, HR Indicators, mentions three challenges that HR professionals must overcome when analyzing skills gaps:

This section is about developing support strategies. Once you know where the skill gaps are in your organization, you can create strategies to effectively fill them.

Different organizations will face different skill gaps. However, according to a report by the World Economic Forum, the need for cognitive skills is growing. Natural thinking and critical thinking are in the race for the most important, while technical ability is the third fastest growing skill.

Chapter 3: Building Internal Staff Capacity

Data from a McKinsey study shows that the biggest potential for skills gaps in all businesses is data analysis:

Depending on the skills you need and the skills of your existing staff, there are several options you can set up. Let’s see what you can do:

Skill

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