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Hello Folks, with number of open job vacancies, you no more have to crib for lack of job vacancy and blah blah…; but yes, there is something else, more serious, probably more disastrous. It’s the “Skill Gap”.

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A recent study by CareerBuilder on growing skills gap, gives some shocking stats.

-More than 50% of employers fail to find qualified candidates for the vacancy

  • 8 out of 10 employers find it difficult to fill the positions.

So that means, jobs are there and so is the opportunity to get hired; but you might skip that in case you lack the required skill.

Let’s first have a look at the cause behind the crisis:

To bridge the skill gap, three solutions were identified, i.e. on the job training, competitive compensation, & career preparation. However, to the shock, these are making the situation worse. Here are survey findings

Failures with on-the job training

It’s true that on the job training can make the employees learn necessary skills & tricks to match any on-the-job requirement, but what if this isn’t done properly. Here are some shocking results from the survey.

  • No serious investment in job skills: 60% believe necessary job skills — which half of employers think applicants lack — will be learned once on the job, though that’s usually not the reality.
  • What institutes think? 73% Colleges and universities say on-the-job training is a major fix for the skills gap.
  • Misconception of academies: 73 % of academia believes companies offering more training opportunities will get more job applicants.
  • Lack of critical Skills: 24% Employers are missing critical skills in their workplaces — but refuse to train employees.
  • Lack of promotion opportunities: 35 % of employers think posting more stringent requirements for entry-level jobs contributes to skills gaps at their own companies, yet only 33 percent say they offer internal re-skilling or cross-training to help fill these gaps.
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Failures with Competitive Compensation

  • Unemployment as an excuse not to pay: 35 percent actually believe they can pay people less.
  • Wages Adjustment: 37 percent of employers think a gap in wage expectations is one of the biggest causes for the skills gap today, yet some say they’ve actually adjusted wages down.

Failures with Career Preparation

  • No Career Path Guidance: 23 percent of workers say they received no information or help in deciding which career path to pursue after high-school graduation.
  • No teaching of right skills: 45% Academic institutions aren’t teaching the right skills — because they don’t know what they are.
  • Expenses are barrier of training: 61% Workers aren’t learning new skills
  • Hiring unskilled candidate: 61 % of employers claim to have hired a person who they knew did not fully meet the stated job requirements.
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