It’s increasingly tough for organizations to meet business objectives and growth goals when their employees lack the skills it takes to get there.
That’s precisely one of the roadblocks that companies now face day in and out. According to Gartner, 70% of employees may not have the skills necessary to succeed in their current role. As a result, future possibilities, promotions, and growth could be diminished as well.
Such a notable skills gap is only likely to get worse over time, particularly as businesses evolve and adapt to a new digitally-powered world, and as newer skill sets become essential.
What is skill development?
Skills development refers to the process of identifying skill gaps and fostering the acquisition of new competences through various methods such as training, mentoring, and continuous learning.
Mastering skill development has become a crucial part of the career journey for both individuals and organizations. Strong development directly influences an organization’s ability to meet business objectives, adapt to industry changes, and maintain a competitive edge.
What are the benefits of developing new skills?
The benefits of thorough skills development include:
- Enhanced employee performance
- Encouragement to drive innovation forward
- Supportive career growth and personal potential
For HR professionals, corporate trainers, and learning and development professionals, understanding and implementing effective skill development strategies bridge the talent skills gap that many organizations are facing.
The modern “skills gap” challenge
Skills development offers the opportunity to upskill, reskill and cross-skill existing employees to create the ultimate workplace dream team. But before companies can do that, they must be aware of the challenges and problems that exist.
Some workplace statistics indicate an alarming trend—that up to 87% of companies struggle with skills gaps currently, or expect to face those problems within a few years.
Adequate, well-tested skills development is the remedy to such a pervasive problem.
Upskilling, reskilling and cross-skilling existing employees
Continuously working with all employees through a comprehensive training program quickly increases their productivity and team contributions.
- Upskilling: Upskilling involves the targeted improvement of current skill sets. For example, a marketing professional might learn advanced data analytics to improve marketing campaign performance over time.
- Reskilling: Training employees in new skill sets can allow them to successfully transition to different roles. For instance, a graphic designer could be trained in UX/UI design to meet evolving digital needs. This practice helps retain and keep skilled workers, while allowing the organization to stay in tune with new industry standards.
- Cross-Skilling: Cross-skilling means providing employees with skills that span across various departments and practical use cases. For example, an IT specialist might receive training in project management to lead tech initiatives more efficiently. (When cross-skilling, make sure that the intention is to provide employees with more knowledge, rather than to pack their current workload beyond capacity.)
Pro Tip: Successful training programs always incorporate comprehensive assessments, tailored learning paths, and continuous feedback cycles. CYPHER Learning provides a user-friendly way to manage these responsibilities while saving time and resources.
Turning training and development into a competitive advantage
Showcasing the best in training and development can significantly enhance an organization’s recruitment and retention strategies.
By promoting a culture of continuous learning, companies attract top talent eager to grow and innovate. According to Tracy Arno, CEO of Essence Recruitment:
“Employees want to work with companies who invest in their growth and professional development. Employees will dedicate their time and effort to an employer who cares about their employees and professional growth. Investing in professional development will provide direct benefits to the company by having educated, dedicated employees who will contribute to the business plan.”
This approach also boosts employee satisfaction and loyalty, reducing turnover rates. Offering certifications and advanced training programs can set your organization apart as a leader in professional development.
Promoting from within while saving on costs
Internal promotions are a win-win scenario: they save recruitment costs and motivate employees by providing clear career progression paths.
Skill development programs make it easier to identify potential leaders within the organization and prepare them for greater responsibilities, including management roles. This approach not only ensures continuity within the organization, but it also leverages the existing knowledge and cultural fit of current employees.
3 main types of skills to develop
Understanding and nurturing the following types of skills is crucial for effective skill development within an organization:
Cognitive
Cognitive skills are mental abilities such as problem-solving, critical thinking, and decision-making.
These intellectually-based skills are essential for employees who need to navigate complex tasks and develop innovative solutions to modern issues. Training programs that focus on cognitive skills often include scenario-based learning, simulations, and strategic thinking exercises.
For specific teams, you can also deploy a program like sales enablement training to help team members gain new cognitive skills for better revenue results.
Technical
Technical skills are job-specific and vary across industries. They might include competencies like coding, data analysis, and machinery operation.
Effective technical skill development involves hands-on training, workshops, and certification courses that are specific to each industry. For example, a business analyst might take an advanced course in SQL to improve data handling capabilities.
Interpersonal
Also known as soft skills, interpersonal skills include communication, teamwork, and leadership.
Interpersonal skills are vital for fostering a collaborative and productive work environment, even though it’s harder to track and measure them with traditional metrics.
Training methods typically include role-playing, team-building exercises, and leadership coaching. For instance, a team leader might attend workshops on conflict resolution and emotional intelligence (EQ) to better navigate discussions and problems among team members.
Identifying skills gaps with intelligent LMS
To address the talent skills gap effectively, diagnose where those gaps exist. Here’s how organizations and individuals can identify and prioritize skill development needs for better long-term growth:
- Conduct skills assessments: Regularly evaluate employees’ current skills against the required competencies for existing roles. CYPHER offers robust competencies and assessment features that help identify these gaps in real-time.
- Leverage personalization: Use platforms that provide personalized learning paths based on the identified skill levels. With CYPHER, teams can avoid a generic approach that puts everyone on the same learning track, regardless of skill or existing knowledge.
- Engage in continuous feedback: Create a feedback loop where employees can communicate their training needs, experiences, and new goals. Feedback and transparency help refine and improve development programs continuously, so that there’s always an easy way to keep up with trends and changes.
Start your skills development journey
Skills development is the first step in bridging the gap and driving organizational success. By upskilling, reskilling, and cross-skilling, leaders can strengthen teams and better ensure that they’re equipped to handle future challenges.
Ready to dive into the data? CYPHER’s Close the Talent Skills Gap to Open Up Big Opportunities discusses these three massive opportunities in depth.
