Results from ManpowerGroup's Talent Shortage Survey, conducted last year among 40,000 employers worldwide, revealed that employers find that a lack of available skilled talent and the persistent need to fill vacancies has a negative impact on the performance of their businesses.
Employers cited lack of essential job skills, the technical or hard skills and workplace or soft skills, as reasons for vacancies. These are skill deficits that have increased since the last survey. A hard skills deficit increased by eight percent since 2012, to 48 percent in 2013. The soft skills deficit increased by seven percent since 2012, to 33 percent in 2013.
More than half of employers surveyed reported that skills gaps impact their ability to serve clients to a medium (35 percent) or high (19 percent) degree. Employers also believe these shortages reduce the company’s competitiveness and productivity. With 39 percent of employers citing a reduced ability to serve client’s needs and 34 percent reporting a reduction in competitiveness and productivity, what are employers doing about it?
According to the survey, 23 percent of employers are developing their existing team by providing training and development. It makes sense that with the lack of a skilled work force, employers are turning to training, and e-learning is quickly becoming the way to go.
In a recent report, The Value of E-Learning, IBM estimated that 40 percent of traditional training costs were spent on travel and lodging. Other considerations include: employee salary and business losses from downtime. The report cites some important benefits of e-learning which are: reduced training costs and impact on business, the ability to provide training to multiple students in multiple locations, exposure to expert knowledge and top instructors, and the accountability provided through e-learning tracking.
If you are facing these challenges, perhaps it is time to consider the e-learning solution. KnowledgeCity has training courses in Business, Computer Software and Safety Compliance.