The Skills Crisis: 3 Effective Ways to Fill Skills Gaps in Tech

The skills crisis emerged at seemingly the worst possible time–during a pandemic. After being forced into a rapid state of digitization, roughly 87 percent of companies already have or will have skills gaps within the next few years. skills crisis

Skills gaps occur naturally within a workforce as new technology and practices emerge leaving the workforce with obsolete skills. However, the accelerated rate in recent years has digital leaders struggling to keep pace as traditional talent acquisition yields inadequate results.

Harvey Nash Group’s Digital Leadership Report found that 67 percent of digital leaders are unable to keep up due to the scarcity of much-needed tech talent. This increase in skills gaps and lack of in-demand talent has created a skills crisis in tech.  As these gaps increase and adequate talent remains scarce, companies are left wondering how to solve these issues effectively.

Companies have turned to experienced solution providers for answers. Continue reading as we explore the ways companies and solution providers are filling these gaps and ways your company can adapt to the future state of the workforce and talent acquisition.

Invest in Reskilling & Upskilling Initiatives 

Offered as both external and in-house solutions, reskilling takes existing employees and trains them with in-demand technical skills in as little as three months. By creating an influx of job-ready tech talent, companies are able to fill the growing skills gaps and supplement their talent acquisition needs–all while yielding a  significant ROI.

Understandably though, investing in new reskilling initiatives can seem daunting at first. With experienced reskilling providers, companies get expert knowledge and guidance to find the best-fit solutions. Providers assist with the recruitment of internal and external candidates, the reskilling instruction and the redeployment process transitioning the newly-reskilled employees into their new tech roles.

According to the World Economic Forum, more than 1 billion people will need to be reskilled by 2030. For companies to stay ahead of growing skills shortages, they must provide some form of reskilling or upskilling program for their workforce to survive accelerated digitization.

Related read >> 3 Tips on How to Pick the Best Reskilling Provider

Instill a Culture of Learning & Skills Building 

Learning and development programs are an effective way to inspire skills building and establish a more engaged workforce. In fact, employees with professional development opportunities are 15 percent more engaged at work and have a 34 percent higher retention rate, according to a survey conducted by Better Buys.

This is a two-way street between a company and its workforce. Employees are expected to continue developing their skills and talents while companies are expected to offer programs and resources for further skills development. As many as 81 percent of workers expect some form of a training program from their employers to keep their skills up to date.

A failure to meet these expectations could result in fewer job applicants and decreased retention rates. Find ways to celebrate skills building among your teams and reward employees for their achievements as this will inspire others to do the same.

Keep in mind a culture of learning can occur organically along with what your company offers. Employees understand that career development is greatly influenced by the skills they build. Don’t impede this growth, but encourage your employees to use those skills to enrich their work.

Offer Flexible Working Environments

One talent driver that emerged since the pandemic was the option of hybrid and remote positions. The pandemic has shown that remote positions are not only highly desirable, but remote workers can be even more productive than their in-person counterparts.

In a survey conducted by DeskTime, remote workers were found to work an average of one hour more than their in-person and hybrid counterparts. Moreover, the Great Resignation showed companies that employees prefer flexibility over rigid working environments and they were willing to look elsewhere than stay.

By offering more workforce flexibility, companies are tapping into previously unexplored talent sources and expanding their talent pools. Companies in New York can hire remote workers from San Francisco or Los Angeles, which would have previously been overlooked.

Hire job-ready tech talent to stop the skills crisis.

With ever-changing talent trends and an increasingly competitive environment for filling technology roles, creating a workplace with benefits (outside of just compensation) is essential. By investing in talent initiatives, creating a progressive culture of learning and expanding your talent pool, you’ll position your organization for sustained growth.

Explore ways to combat the growing skills crisis by talking with our Enterprise Team and establish your company’s very own reskilling program for sustained and scalable growth.

skills crisis - Anthony Hughes

Written by Anthony Hughes, Tech Elevator’s Co-Founder & CEO