Talent shortages and tight labour markets impact economic growth. Six in 10 businesses say skills gaps are impeding their business transformation.
Shortages are particularly challenging for Supply Chain and Transportation, Health and Healthcare, Manufacturing and Retail Industries.
As the global population ages and generative AI and emerging technologies of the Fourth Industrial Revolution continue, it will so much more important to upskill the workforce.
A ‘skills-first’ approach for talent recruitment and development – which looks at whether someone has the right skills and competencies for a particular task – is one way of bridging the skills gaps.MORE