Employment Paradox: Unemployment, Skills Gaps, Difficulty in Hiring
Skills shortages have become more acute, creating a growing mismatch between demand and supply.
Approximately three-quarters of employers globally cite a lack of experience, skills or knowledge as the primary reason for the difficulty filling positions. However, only one in five employers is concentrating on training and development to fill the gap. A mere 6% of employers are working more closely with educational institutions to create curriculums that close knowledge gaps
- The integration of the talent acquisition function with internal talent management, to dramatically improve internal talent mobility
- Reinvestment in core employee development programs to enable the organization to hire younger, lower skilled workers
- Shift in strategy from formal training to a strategic focus on informal learning to help share internal expertise with new employees much more quickly
- A shift in HR management policies to develop a strategic program for the management of contingent workers (consultants, part-time workers, alumni, contract specialists) so that deep skills can be acquired wherever they may be.