The working world as we know it is undergoing a seismic shift. Skills gaps are widening, making it difficult for businesses to achieve their full potential in the current economic climate. According to the IT Skills and Salary report*, 66% of IT decision-makers have acknowledged they suffer from a skills gap — marking no improvement since last year. The future looks similar, with more than half of IT decision-makers reporting they anticipate a skills gap in the next one to two years.
The advent of new technologies, shifting market demands, and evolving societal expectations pose constant challenges for businesses as they strive to stay ahead. The evolution of generative AI in the last two years has resulted in a game-changing wave of technological innovation, affecting every role and industry. This has created an era of pervasive skills disruption, necessitating a complete re-evaluation of the current workforce’s capabilities.
What’s the solution?
To thrive in this dynamic environment, businesses must ensure that their workforce has the skills and competencies to drive innovation and growth. This demands a holistic skilling approach—one that blends technical prowess with ‘power skills’ for talent to lead the way forward, as well as a deep understanding of the ethical, social, and environmental implications of their work. This entails either hiring new talent or upskilling and reskilling existing employees – with the latter serving as a more effective and economical approach. Given the rapid changes in today’s landscape, traditional educational institutions can’t pivot quickly enough to produce talent with the needed skills; therefore, prioritising strategic reskilling and upskilling initiatives will be more crucial for organisations than ever.
To do this, employers must first assess their workforce’s proficiency, which can be done through Interactive Skill Benchmarks (ISBs), a hands-on, dynamic approach to skill assessments built around demonstrable learning outcomes and on-the-job application. These ISBs test learners’ ability to take skills from theory to application via hands-on assessments in virtual environments. This interactive approach accelerates subject mastery and enables organisations to better assess how in-house skills align with business needs to optimise talent management strategies.
Reasons Employers Must Track Skill Development
Tracking skills development enables organisations to better understand the diversity of skill sets within their workforce and more strategically set a course for closing the competency gap. Every employee is different and possesses unique skills and competencies. Managers need to recognise these diverse skill sets to utilise them effectively for the business. This understanding aids in making informed decisions about resource allocation, project assignments, and talent development initiatives.
Another benefit is identifying areas of strength or improvement. Tracking skills proficiencies helps managers clearly understand their workforce’s strengths and areas for improvement. Creating a skills dashboard can assist employers in identifying emerging trends, gaps, or deficiencies in specific skills. This allows them to address skill gaps before they hinder performance or business objectives. This proactive approach builds high-performing teams by providing targeted training programmes and coaching opportunities.
Additionally, skills tracking empowers employers to create personalised development plans tailored to each employee’s unique strengths, weaknesses, and career aspirations. Skills data enable managers to deliver constructive feedback, set realistic performance goals, and assign customised tasks to facilitate specific skills growth. This personalised approach fosters employee satisfaction and a culture of continuous learning and growth, ultimately driving retention rates across the organisation.
Reasons Employees Must Track Skill Development
It is equally important for learners to track their skill development, as it shapes their career trajectory. Tracking skills enable them to get a quantifiable measure of performance. Most learners within an organisation want a way to evaluate their proficiency and skill growth. By taking dynamic skills assessments, employees can gain quantifiable insights into their strengths and areas for improvement. This data-driven approach allows individuals to set clear performance goals, track their progress over time, and demonstrate tangible evidence of their expertise and growth.
Learners also benefit from personalised learning. There are never enough hours in the day, and within an organisation, learners must find a way to balance their daily professional responsibilities with their need for growth. To do so, employees need the shortest path to mastering new capabilities. Organisations should provide their employees with guided, personalised content recommendations based on their individual results rather than wasting their energy on learning things they already know.
Finally, it is crucial to identify and rectify errors quickly. With interactive learning assessments, employees can receive immediate feedback to proactively address areas where they may be falling short or making mistakes. By identifying and rectifying errors in real-time, employees can gain confidence in their abilities and move beyond simply recalling facts to applying concepts effectively.
In a world where the only constant is change, the willingness and ability to learn, adapt, and grow have never been more critical. The ability to track and measure skilling capabilities is indispensable and foundational for a successful upskilling and reskilling strategy. By tracking skills development, organisations can pinpoint skill gaps, offer personalised development opportunities, and cultivate a culture of continuous learning and growth, ensuring readiness for the challenges and opportunities of the future.
*report from Skillsoft
