Sharing is Caring! Believing in the same, Kritika Harjai, an avid blogger at CareerBuilder India shares RELEVANT information and QUICK TIPS on job hunting, getting through interviews, coming with the RIGHT resume and a lot more through her blogs at The Career Muse. Not just this, she even brings the churned out industry insights from the HR experts and head hunters for her readers to get the idea what the industry is looking for. To get her latest blogs in your inbox, subscribe to the Career Muse or follow her on Twitter @KritikaHarjai

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”.

featured image-revealing

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.
Also Read:  Accounting Job Sees Bangalore a Perfect Destination

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.
( 198 visits )