Minimize Skills Gap

Skills gaps in large organizations are not easily minimized as change causes continued to fluctuation as time goes by. Change is continuously driven mainly by the emergence of new technologies, a shortened half-life of skills, a shrinking post baby boomer generation and changing customer needs.

Large skills gaps arise between core critical skills needed to pursue organizational goals, and the current skills inventory. To close these skills gaps which can develop and change rapidly and suddenly, can become challenging as proven by the release of AI technologies like  ChatGPT.

Cost of Large Skills Gaps

Skills are the lifeblood of successful organizations today. Inability to properly minimize skills gaps will ultimately lead to organizational demise.

Skills gaps in large organizations will continue to fluctuate in the foreseeable future, driven mainly by the emergence of new technologies,  the shortened half-life of skills, a shrinking post baby boomer generation and changing customer needs.

A high-quality workforce with minimal skills gaps is the most important determinant of business success. A recurring skills gap has a direct and negative impact on an organization's ability to grow or remain competitive in the short and long term.  The organization needs to be proactive in constantly keeping abreast of skills gap changes and filling them expeditiously. 

If companies fail to perform continuous skills gap analyses, they will not realize the extent at which skills gaps are occurring. Consequently they will continuously fail to formulate appropriate corporate HR strategies and  plans to remain relevant.