Let me explain. In our increasingly digital world, it’s essential leaders take the time to hone a tech-savvy workforce. A global skills shortage will cause an estimated 85 million jobs to go unfilled by 2030. The knowledge gap comes with a hefty pricetag: some $8.5 trillion in unrealized annual revenues.
With warning signs like these, you’d think organizations would see skill-building for the high-priority necessity it is. But that’s not the case. Three in four workers lack the digital skills needed by businesses, and only 28% are working on building those skills today. For business leaders who want to see their success last beyond 2030, stats like these should read like a wakeup call.
Think beyond recruiting
Organizations may feel tempted to focus their skills gap efforts on recruiting. But building a tech-savvy workforce requires a broader strategy, one that’s based in upskilling. Upskilling allows employers to focus on the workers they already have, to invest in their people and equip them for the opportunities to come.
Here’s the best news: Workers love upskilling. In fact, 77% of workers say they want to learn new skills or completely retrain. And 37% say they’d leave their current jobs if they were not offered training to gain such skills.
When employers make good on these expectations, workers and business benefits. Ninety-three percent of CEOs who introduce upskilling programs reap rewards like increased productivity, improved talent acquisition and retention, and bolstered resilience.
To mind the gap, mine the gap
The skills gap may seem intimidating — how could $8.5 trillion in lost revenue not make you start to sweat? But some of the very technology contributing to the gap can help businesses identify and eliminate skills gaps within their companies.
PeopleBest’s AI-powered platform allows you to see gaps inside your new hires and existing employees, allowing businesses to find candidates and develop existing employees who are ripe with opportunity for upskilling. To find out how PeopleBest can serve your team, book a demo and set up a time to chat with one of our specialists.
PeopleBest is a revolutionary, simple and powerful way to capture the exact ‘DNA of success’ inside people, teams and companies.