The New Skills Gap: Building tomorrow’s workforce today

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Is your company effectively bridging the skills gap to drive strategic business results? The latest Achievers Workforce Institute report reveals that many HR leaders are confident in their soft skills training and internal mobility programs, but employees feel differently. This disconnect suggests a significant opportunity for improvement.

Based on a survey of more than 5,200 people, AWI’s New Skills Gap report finds that while half of HR leaders believe their soft skills training is effective, only 20% of employees agree. Similarly, internal mobility programs are deemed excellent by 50% of HR leaders compared to just 24% of employees. This disparity highlights the need for a more inclusive approach to skills development and validation.

What is the new skills matrix?

The new skills matrix is a reframing of outdated skill categories. Instead of hard vs soft skills, HR leaders should consider technical, transferable, and essential skills when hiring or promoting employees.

Technical skills

These skills are usually formally taught, requiring specialized knowledge and specific tools.

Transferable skills

These skills apply to many types of roles and could be learned formally or informally on the job.

Essential skills

Historically considered “soft” skills, these skills apply to every role and level but are often overlooked in formal training, with employees expected to either have them already or learn them on the job.

Making the most of your existing tech stack

Closing the new skills gap might not mean onboarding a new tool or technology. Optimizing your HRIS, L&D, or recognition platforms can go a long way towards improving skills development and internal mobility.
Closing the skills gap is not just about identifying the right skills but also about improving, validating, and tracking them effectively. By leveraging technology and focusing on essential skills training, companies can enhance their internal mobility programs, leading to increased employee engagement, loyalty, and productivity.

HRIS/HCM: making the most of existing systems

Performance reviews, goal setting, and recognition are three ways to use HRIS to validate skills and support internal mobility. By standardizing reviews, aligning goals, and creating a praise profile, employees and managers can have better visibility and objectivity into skills development and career opportunities.

Validating skills with your recognition platform

About a third of HR leaders are using their recognition platform at some point in the skills tracking and validating process, and those that do are 38% more likely than average to say their company can quickly identify people with the skills they need.

The skills being mentioned in employee recognitions not only indicate who in your organization has specific skills, but also which skills are considered highly valuable and strategic by your workforce.
For a comprehensive understanding of the current skills landscape and actionable insights, download the full New Skills Gap report and reach out to our experts for guidance on creating a best-in-class skills development program.