Skill Gap Analysis: For an efficient workforce and consistent growth

A skills-gap analysis is the first step in determining organizational competency gaps that hamper the ability to compete. The goal of this skill gap assessment is to identify which individual skill sets are required for employees to achieve strategic objectives. While some skill-gap analyses might identify the lack of specific skills required for a business to compete effectively in the future; others may reveal more pressing skills needed for a business to survive and thrive now! With the help of an individual skills-gap analysis template and detailed training-needs analysis, HR (Human Resources) and L&D managers can quickly identify upskilling requirements. Conducting a gap analysis can be a daunting task, but with Yaksha’s help, you can do it efficiently and effectively. Let us show you how!

Table of Contents

Introduction

The ability to adapt and evolve is what sets the current generation’s workplace apart from the previous generation. With a disbursed, mobile workforce alongside ever-changing customer needs there can be difficulty matching employee competencies with stakeholders’ expectations; an assessment of current talent in order for team members who are already working together to succeed Gaps between each other might open up when it comes time periodical skill gap analysis which helps bridge this divide by assessing existing talents or potential new hires then customizing them accordingly if necessary so they’re best suited towards meeting organizational goals. 

What is a Skill Gap Analysis? 

In order to stay competitive in today’s economy, it is important for organizations of all types and sizes—whether service-based like restaurants or retail stores; producers based on raw materials such as oil fields (or even water pipes); manufacturing businesses–to have an accurate understanding about what skills they currently lack which would be necessary if new employees were coming over from another company with experience directly relevant towards their needs. This process can take many forms depending upon how big your workforce may need/want certain things done ranging anywhere between just offering more positions available versus creating entirely new departments dedicated solely toward filling those gaps. 

The core mission of any business is to create a profit. But for you and your company to be profitable, there need to be certain specific skill sets that go into fulfilling this goal, if these are not present within the workforce then it will impede their ability accomplish professional goals.  

To learn more about how skill-based assessments are revolutionizing the way we hire, click here. 

Why is Skill Gap Analysis needed?  

To thrive in today’s highly evolving, globally competitive business environment is an endeavor that relies heavily on the skills and support provided by leaders. Without these qualities in place organizations will fall behind as they face new challenges head-on with varying degrees of success depending upon how well-prepared their team(s) are for a said obstacle or opportunity. 

Here is why skill-gap analysis is essential

How does Skill-gap Analysis help your organization? 

The skills gap is an issue that businesses are currently struggling with. To help them measure these shortfalls, it is important to conduct a comprehensive and ongoing analysis on what skills your business lacks or has too few supplies of for you as HR or L&D manager, can do something about this problem by following the steps below: 

Empowering your L&D strategies 

The future of work is here. To keep up with the changes, employees need continuous learning and development so they can fulfill roles when new tasks are added, or different employers come into play. Employers should use data-driven, evidence-based approaches that motivate their workers by providing them with a roadmap for developing skills needed in upcoming jobs requiring those talents your employees already possess! 

Improved recruitment and upskilling process 

To recruit the right people for your organization, it is vital that you look at both current needs and future opportunities as well. One way of doing this would be by preparing an individual skills gap analysis template per role which highlights any additional qualifications needed in order fill those gaps while also making sure not spend money on unnecessary staff who could become obsolete soon enough anyways! 

Assessing team requirements 

The skills-gap analysis is a crucial first step in empowering your team to succeed. It will identify any areas where they lack the necessary knowledge, experience, or abilities needed for their job responsibilities and help them find ways of filling those gaps through training programs tailored specifically toward them. One way Yaksha can help teams succeed is by identifying any gaps in needed abilities and providing training or other support for those who need it most. 

Planning the upskilling of the workforce  

The study by the World Economic Forum provides businesses with a clear roadmap for how they should plan their future workforces. Rather than focusing on filling gaps in skills right now, strategic planners will take a longer-term view and analyze what specific talents or skill sets are needed over time so that organizations can create training programs around those needs instead of just having employees who do not fit into any particular role. 

Get an edge over the competition 

The ability to identify, attract and retain the right people is a core competency for any business. Without them, there are many things that can be done to make sure your company will continue its success even if something happens such as an economic downturn or pandemic outbreak which could damage other aspects of operations temporarily but not permanently unlike some businesses might believe it does due their proximity with these events. The first step you should take is after doing an analysis of organizational skills and identifying gaps specific enough, so they do not overlap with each other too much throughout all levels including the management echelon.

How does Skill-gap Analysis help your organization? 

It is important to choose a template that will allow you the most flexibility in how your skills gap analysis looks. Templates can be either too simple or complicated for their own good, which leaves room for error when trying new things on an open document with many features available. Yaksha can help you screen candidates, administer assessment tests to selected candidates and conduct remote interviews with online proctoring. 

To learn more about when to conduct a skill-gap analysis, click here. 

Conclusion 

The lack of specific skills required for a business to compete effectively in the future might be revealed through a skill-gap analysis. While other pressing skills needed for a business to survive and thrive now can be identified with the help of a detailed skill-gap analysis. Yaksha offers an efficient way of conducting a skill-gap analysis. You can identify your organization’s needs and find relevant courses or programs quickly and easily with our platform. Contact Yaksha today, so we can help you get started on upskilling your team! 

 

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