the skills gap
No. 1 Risk to Global Business? Survey Says: The Skills Gap
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espite national forces to the contrary in some corners of the world, global business optimism remains strong, according to the second quarter International Business Report by Grant Thornton. Globally, business optimism was 51%; in the United States, it was 81%. The confidence is due in large part to strong revenue and profit expectations. But another metric hit an all-time high: the percentage of businesses who identify a lack of skilled workers as a constraint. That number rose to 35% – just over one in three businesses report being constrained by a lack of talent. It’s a challenge that has been making headlines for a while now and spans all types of jobs, from
manufacturing to IT, and all skill levels. According to the report, “Skills shortages are increasingly growing as a long-term issue businesses must address…longer-term, businesses will need to look at training programs to boost skills among existing workers, and even working more closely with education institutions to ensure the right skills are being taught at an early age.”
HELP WANTED: THE RIGHT SKILLS
soft skills were equally as or more important than technical skills. According to another study by LinkedIn, the skills most sought-after by employers include: 1. Communication 2. Organization 3. Teamwork 4. Punctuality 5. Critical thinking 6. Social skills 7. Creativity 8. Interpersonal communication 9. Adaptability 10. Having a friendly personality
What are the ‘right’ skills? It depends on the job, of course, but increasing evidence suggests that it is not technical know-how. In a Wall Street Journal survey of nearly 900 executives, 92% of respondents said
LinkedIn’s list is strikingly similar to the top 10 skills identified by the World Economic Forum in its Future of Jobs report: 1. Complex problem solving
2. 3. 4. 5. 6. 7.
Critical thinking Creativity People management Coordinating with others Emotional intelligence Judgment and decision making 8. Service orientation 9. Negotiation 10. Cognitive flexibility
SOFT SKILLS UNIVERSITY So, a gap between the skills required for a job and the skills job candidates have is a key risk for businesses. And the skills that employers are looking for are predominantly soft skills, rather than technical know-how. So that begs the question: where’s the school students can go to learn those soft skills? That, perhaps, is the root
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winter 2018