The U.S. Bureau of Labor Statistics issued a summary of the latest Job Openings and Labor Turnover metric called JOLTS. Here’s the big takeaway: after 15 straight months of more than 10 million job openings, the nation’s skills gap is clearly taking a toll – a crisis that American Staffing Association President and CEO Richard Wahlquist suggests won’t go away anytime soon. It’s a massive challenge facing employers that are struggling to attract and retain qualified talent, especially in technology and engineering where certain skills are in very high demand but short supply.
Part of the problem can be traced to the emergence of so-called digital nomads who design their work around a globetrotting lifestyle rather than commit to being at the office – a trend that was accelerated by the pandemic. Another issue is that employees are being poached by competitors. The bottom line is that for businesses to be competitive and stay profitable, they must invest in bleeding-edge technologies, as well as continue to automate and innovate. That requires employees who have special knowledge, skills and training, which many job seekers just don’t possess, or they’re not able to acquire it fast enough to meet the needs of a fast-changing marketplace.
Employers need to take a proactive approach when it comes to both hiring and retaining their employees, which means developing programs to train employees and arm them with the right skills. They also need to identify and nurture employees who show signs of growth and are passionate about learning, supporting them in their career development. Another tact is for employers to partner up with universities and vocational educational on training programs to help groom students for real work environments and launch recruiting campaigns inside colleges.
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