Allegis Group, the global leader in talent solutions, today released a report that finds traditional sources of new skills are not enough to address today’s talent shortage. According to an Allegis Group survey of 1,000 HR decision-makers conducted earlier this year:
- 85 percent agree companies need to acquire skilled talent faster than higher education institutions are producing it.
- 81 percent agree traditional corporate learning and development programs are not keeping up with the demand for new skills.
- 71 percent believe the current talent supply does not support the demand for new capabilities and technologies.
- Consequently, 75 percent say the struggle to acquire and retain talent with critical skills prevents employers from realizing their full growth potential.
These findings, plus survey data on organizations’ current and future strategies for developing skills in the workforce, and commentary on learning technology, training strategy, user experience and the impact on workforce supply, are available for immediate download in “Cultivating Skills to Build the Talent Pipelines of Tomorrow.”
The new report also offers a review of fundamental skills development approaches (e.g., mentorships, apprenticeships, academic partnerships and certifications), plus innovative examples of companies putting those strategies to work and a glance at related trends across select countries around the globe.
The Push to Empower Skills Development is Underway
Many employers are committed to addressing today’s talent shortage by investing in learning and skills development programs. According to the survey, 93 percent of HR decision-makers believe the employer is responsible for enabling their workforce to acquire new skills, and 86 percent anticipate their budgets for training programs and ongoing learning and development will increase over the next two years.
“Critical skills are hard to find, especially when the supply of talent with in-demand skills varies greatly across regions and companies,” said Allegis Group’s Global Development Officer Chris Hartman. “Employers must, therefore, embrace innovation to compete for talent and own the responsibility of sustaining a supply of skilled workers. Those organizations that equip the workforce for continuous learning can enjoy a competitive advantage in the global economy of the future.”
Employers Are Getting Strategic About Building Skills Pipelines
As companies recognize the growing need to cultivate talent, they are boosting traditional strategies used to foster new capabilities in the workforce. As such, the report covers key technologies, along with insights on the level of interest and commitment among employers in adopting them.
Mentorships Forge Connections to Transfer Knowledge:
- About 90 percent of HR decision-makers believe mentorships significantly or moderately impact the employee experience, skills development, the ability to attract and retain talent, and leadership development.
- Roughly two-thirds cite mentorships as a source of growth for soft skills, such as leadership, relationship building and strategic thinking.
Apprenticeships are Gaining Ground, But There is Room to Grow:
- Only 38 percent of U.S. HR decision-makers widely use apprenticeships in their organizations, yet 42 percent are in the early stages of adoption or plan to implement programs in the next two years.
- Talent experts predict program expansion into high-demand fields and “middle-skill” occupations to help employers build their skills pipeline (e.g., paralegals, dental hygienists, police officers, graphic designers and database administrators).
The Case for Employer-Paid Certifications is Strong: Among HR decision-makers whose companies have programs in place:
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- 96 percent say they boost the employee experience.
- 96 percent report they help to sell the company’s skills and capabilities to clients and prospects.
- 93 percent believe they have a positive impact on new skills development.
Academic Partnerships Provide Learning Programs Tailored to an Employer’s Talent Needs: The use of academic/business collaboration is strong. In comparison to a reliance on four-year degrees, HR decision-makers say having academic partners:
- Improved the relevance of new skills brought into the workforce (96 percent).
- Have a significant or moderate impact on the overall employee experience (95 percent).
“Classroom training, mentorships, apprenticeships, certifications, academic partnerships, and even innovative uses of technology and automation will all play a role in successful skills acquisition,” added Hartman. “Prioritizing learning strategies is no easy task, but an expert partner can help employers gain an advantage in building a skills pipeline.”
Get a free copy of Allegis Group’s : Cultivating Skills to Build the Talent Pipelines of Tomorrow
