With industries changing rapidly, there is a need for new skills to stay ahead of the knowledge curve. This is important for organizations and individuals in almost all industries as people need to adapt to be ahead and determine what skills they need to do. This is why it is important to conduct a skill gap analysis to review growth and areas of improvement.
Skill gap analysis includes a survey of skills that an individual or companies possesses and what they will need in the near future for their business goals.
Reasons for Skill Gap Analysis
The following are statistics that indicate the urgency of companies that need to upskill their workforces:
In terms of employers, 70% see a skills shortage in hiring
Almost 54% of employees need to upskill or reskill by 2022
Among the surveyed companies, 82% of them are increasing their investment in reskilling their workforce
There is a clear indication that there is a need for reskilling and upskilling in different organisations across the globe. Using a skill gap analysis, you can determine where these employees should use their money and time effectively.
Conducting a Skills Gap Analysis
Here is the process of identifying gaps at an individual and departmental level:
You need to put a solid plan in process in order to get initiatives off the ground and to decide the scope.
First, decide the scope of your skill gap analysis that needs to conducted at team, individual or company level. Answering questions early will help determine what you are in search for and how you will frame the analysis.
Second, create roles for the skill gap in which you choose the team leader or supervisor.
Third, you need to determine the timelines for how frequently and when you will conduct the analysis.
Fourth, learn about the possible outcomes and how you would respond to findings.
You would need to do some training, planning, mentoring and hiring and plan for eventualities.
2. Review Required Skills
Once the plan is in place, you need to respond to outcomes. This means that you will create teams like executive teams and department heads to determine the skills for particular projects. Also, information is gathered from individuals to know what they need to perform to get to a desired level in the near future.
Ask yourself questions like what skills does the company value or skills needed by employees to be successful now and in the near future. Once people are interviewed in the company and the list of must have skills are determined then you need to assign a numerical value between one to ten to know the level of importance and skill level required.
3. Measuring Current Skills
Determine if your company already has the skills needed. There are several strategies that you can use to accomplish this. Collect details about skills employees have and what they need and what is needed for them to acquire them. Tools used to collect this information include employee surveys, skill assessments, interviews, feedback, reviews and analyzing KPIs. Also, you can use hypothetical situations to focus on areas of hiring. Then, go back to the assessments and track areas that need immediate attention.
4. Fill Gaps
Generally, to complete the skill gap it needs to addressed by training and hiring.
Training involves giving your employees a professional plan and finding areas to upskill. The company will have to use resources to train employees which include external training courses, online courses, events, mentorship programs and certifications.
Hiring is needed to addresses skill gaps that are too significant and cannot be filled with immediate training. You should modify the hiring process to determine what you’re looking for. Create job requirements for those particular skills and use passive and social recruiting. Finally, conduct in-depth skill test exercises to ensure that you get the candidate.
In case, the company has to do a major strategic shift then you would require recruitment ads, employer branding and strategies for job sites to appeal to the right candidates with the specific skill sets.
At Arnold Consulting Pvt. Ltd, we believe in assessing skill gaps and determining how we effectively evaluate it and fill the skill gap. Apart from the details mentioned above, we also do position marketing and job mapping to ensure that we help candidates find the right jobs that they are entitled to. This way we ensure that we get the best talent for the job and complete the same in a quick turnaround time.