3 Steps to Analyze Skills Gap Effectively

According to the National Association of Business Economics (NABE), the research survey reported skill shortages in the second quarter of 2021, illustrating that the deficit isn’t diminishing in 2022 either. We noticed significant skill shortages in healthcare and tech sector initially; however, it has been fast spreading in other sectors as well.

Now, if you wish to dampen the impact of skill shortage within your business, you need to think smartly and act proactively. The most important thing you need to focus on is controlling the attrition rate.

Why do employees leave your company?

Is salary the reason the employees leave your organization? Maybe, but it’s not the only motivation. According to research, one-third of job-seeking respondents require flexibility in their workplace. Whereas 20% of respondents said, they needed a better workplace with psychological safety. However, the good news is that you can revamp your work culture and update your approaches to find skilled employees that fit your organization’s needs. The most effective way to move ahead is by conducting a skill gap analysis.

Why should you perform a skill gap analysis?

It’s challenging to retain skilled employees or find new talents without knowing the defects in your approach. Conducting a skill gap analysis helps you get insights into your company. Not only this, it’ll help you with planning your hiring strategies effectively that’ll fit your long-term requirements. When you analyze every team and department, you will understand the potential resources required to meet the goals. It’ll also help you determine the training needed for the team members to elevate their skills. Finally, you will update tasks when you know the gaps, automatically increasing the team’s productivity.

How to analyze the skills gaps effectively?

1. 1. Take help of team leads

      The first step is to plan your analysis process. Mainly, it’s done with individuals and teams. Therefore, you need to think about who you will talk with, like C-suits, team leads, and other staff. However, team leads will convey the skills missing in their departments effectively.

   2. Plan your future goals

Self-talk is a crucial factor in getting the results out of this analysis. But, first, you need to ask yourself some questions to define where you and your organization will be in two to five years. Some questions you can ask is:

1. • Where do you see your company moving?
   • What will be your horizon in the next year?
   • How can you make goal-reaching strategies with the current workforce?
   • What additional skills do you need to meet the objectives?
   • In which departments do you need to add more resources?
   • Which job descriptions have to rise and fill?
   • What can be the potential skill needs in the future?

2. Be aware of work trends

When you plan about the present updates in the company, you need to consider future work trends that might suit the needs of your organization. Like you should think about the kinds of jobs that will be automated, the current popular skills, and future job openings. Then, you can research potential future jobs, start preparing those strategies and create job vacancies according to your company’s goals.

Convert findings into steps

Finally, when you discover the skill gaps in your organization, make the plan to fill them through training and hiring. Reskilling, Upskilling, and revamping the organization’s work culture will help you achieve your goals.

Outsourcing recruitment process, or parts of it, and setting up offshore delivery centers is another efficient method to address skill gaps cost-efficiently and scale workforce tapping previously uncharted global talent pool. And here’s where QX Global Group can provide you with necessary support!

Originally published Feb 08, 2022 12:02:15, updated Feb 05 2024

Topics: Combat Skills Shortage, skills shortage