Stark new statistics reveal that 28% of the UK workforce are underqualified for their jobs across many of the country’s major industries.
This suggests that many employers and workers need to find new ways to improve floundering productivity, with a further 27% citing a lack of digital skills required for increasingly tech-centric job roles.
David Banaghan, Co-Founder and Interim CEO at Occupop, recruitment software experts, said: “The twin problems of Brexit / COVID coupled with the digitisation of many jobs have left many employers ill-equipped to deal with today’s working problems, with the most prominent shortfall found in digital skills.
“However, while the skills gap indicates a wider national malaise, it does present individual, forward-thinking businesses with opportunity if they take time to understand skills shortages within their industry and act accordingly.”
Here are some things to consider:
Understanding the skills gap
This widening disconnect between supply and demand has emerged due to several factors.
Rapid technological progress has outpaced current education and training efforts, rendering some skills obsolete while creating a demand for new ones.
This also leads to changing job requirements as industry demands necessitate specific skill sets, which in turn leads to a mismatch between available skills and employer needs.
This is further compounded by outmoded education systems and insufficient training opportunities.
The Impact for Businesses
Some forecasters speculate that inadequate digital skills alone could cost the UK GDP a cumulative £145 billion between 2018 and 2028.
In the short term, this may disrupt a company’s business as usual (BAU) as underqualified employees struggle to perform their duties effectively.
This can lead to missed deadlines, increased error rates, poor client work, and heightened employee frustration and disengagement levels.
The longer-term repercussions, meanwhile, can be more profound. A workforce lacking essential skills hampers innovation, stifles growth opportunities, and risks falling behind its more agile, adaptable counterparts.
Plugging gaps to overcome the challenge
While the skills gap presents a formidable challenge, it also presents an opportunity for proactive intervention and strategic adaptation.
Here are some key steps businesses can take:
Invest in Continuous Learning: Embrace a culture of lifelong learning within your organisation.
Provide employees with access to training programs, workshops, and educational resources to continually upskill and reskill in line with your own bespoke industry trends.
Collaborate with Educational Providers: Forge partnerships with schools, colleges and universities to ensure that curriculums align with the job market’s specific needs.
Offer internships, apprenticeships and work-study programs to facilitate smoother transitions from education to employment.
Implement Mentorship Programs: Pair experienced employees with newcomers to facilitate knowledge transfer and skills development.
Mentorship programs not only foster professional growth but also strengthen employee engagement and retention.
Embrace Technology: Leverage technology-enabled learning platforms and tools to deliver personalised, interactive training experiences.
From online courses to virtual reality simulations, technology offers opportunities to enhance learning outcomes and bridge the skills gap.
Promote Diversity and Inclusion: Recognise the value of diverse perspectives and experiences in driving innovation and problem-solving.
Create inclusive work environments where individuals from different backgrounds feel valued, empowered and supported in professional development.
Encourage Upskilling and Reskilling: Identify emerging skills gaps within your organisation and proactively support employees in acquiring the necessary competencies.
Offer incentives, such as tuition reimbursement and certification programs, to encourage continuous upskilling.
Conclusion
While the findings from CV Genius may be sobering for employers, they can also act as a necessary wake-up call for businesses and policymakers alike.
The skills gap will likely require collaboration between employers, education providers, and the government.
To succeed best, businesses should foster a culture of continuous learning by fostering collaboration, embracing technology, and promoting diversity and inclusion through recruitment.
This can tackle skills gaps and unlock new opportunities for growth and innovation.
