How to Identify and Close Skills Gaps in Your Workforce

Every business wants to cultivate a skilled workforce. Unfortunately, skill gaps exist and can go unnoticed. They are proven to hurt companies in several ways.

A skill gap is an area that shows a deficiency in performance due to a lack of a skill or skills. It doesn’t mean that no skills are present, only that the ones required to do a job effectively are missing.

CareerBuilder conducted a survey and found that two out of three employers were worried about skills gaps affecting their business. Over half of the respondents said that they have personally witnessed the negative effects of skill gaps.

The study reported that productivity was most affected by a 45% loss. Businesses with skill gaps also saw 40% more employee turnover and 39% lower morale. Work quality was 37% less and there was a revenue loss of 26%. That can equal thousands of dollars lost in productivity and worker retention.

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