Alternative Ways to Bridge the Skills Gap

Productivity and competitiveness are critical business factors in today's global markets. Organizations are finding that they can improve both by making sure there is a solid match between workforce demographics and the skills needed on the shop floor.

 

According to McKinsey, almost 9 out of 10 companies are experiencing a talent shortage, and three-quarters say that the inability to hire skilled workers is having a negative impact on their business.

 

With unemployment figures at record high levels, especially in Europe, and many employees feeling under-employed, at first glance it would seem that employment opportunities are limited. But critical skills for many industries are in short supply and keeping talent in your organization can make the difference between success and failure.

 

The key challenges for employers are to:

• Fill critical skill gaps in a timely and efficient way
• Manage flexible, contingent workers without raising the organization’s risk profile
• Move work to the worker rather than the other way around
• Keep talent engaged and retained wherever possible, even across borders

 

More companies are looking to alternative ways to meet the talent gap.

 

1. Provide flexible work options

Giving employees flexible work options with opportunities to up-grade skills can be offered instead of higher salaries and promises of advancement.

 

2. Respect the need for improved balance between work and life

Work-life balance can be a key issue in retaining talented staff, especially with workforce demographics changing with an aging population. One German manufacturer has implemented a policy to reduce the number of cell phone calls and employee could receive outside of normal working hours.

 

3. Talent Supply Chain Approach

By taking the approach of supply chain management, HR can better integrate supply and demand of skilled employees to fit business cycles. This helps to identify pivotal skills for their organization and factor in how long it would take to find the right employee with those skills.

 

source: SAP Business Innovation

 

HireQuality provides Recruitment, Talent Management, and Management Coaching services to meet your organizations needs. Call us at 416.413.1177 or visit our website for more information.