Many business people are troubled by a scarcity of workers with even rudimentary skills.
Many business people are troubled by a scarcity of workers with even rudimentary skills. Experts point out that basic skills are the foundation upon which specialized skills must be built. If that foundation is shaky, then so are the financial futures of companies that require a capable labor force.
But the concerns go beyond basic skills such as literacy and mathematics. Some experts also foresee a dearth of scientists and technical specialists. The U.S. National Science Board, for example, has published a report warning of "a decline in home-grown brain power, increasing difficulty in attracting overseas scholars, and a looming shortage of scientists and engineers."
This is of particular concern because demand for technical expertise is growing. According to employment forecasts based on data provided by the U.S. Bureau of Labor Statistics, among the occupations projected to grow fastest in the U.S. through 2012, "fifteen will be in the health field, seven will be computer-related, three will be environment-related and three will be in teaching," writes the Monthly Labor Review. Information technology workers are sought after as well, with IT workers who possess specialized skills commanding ever-higher salaries.
Communication skills are also in demand. The Job Outlook 2005 survey from the National Association of Colleges and Employers found that while communication skills were cited as most desired by employers, they were also most often cited as lacking in recent graduates. A U.S. survey conducted by Right Management Consultants supports this idea: It found that 30% of executives and managers are sorely lacking in management skills, including communication skills.
Companies are also seeking skills in multiple languages. Fluency in more than two languages is regarded as a "significant competitive advantage" by many executive recruiters, finds a Korn/Ferry International survey, and bilingual capability (at a minimum) is regarded as essential to business success by roughly 90% of executive recruiters in Europe, Asia, and Latin America.
Skill shortages can bring grim financial consequences to organizations and employees. To combat low skill levels, employers are turning to a variety of diagnostic and skill-building tools. Among the trends in identifying potential employees with the desired skill sets is the use of tests such as the Canadian Test of Workplace Skills, which enables employers to compare applicant/employee skills in document use, text reading, and numeracy with skill profiles for any of 200 occupations. A U.S. coalition of employers, educators, and government agencies is developing a comparable test that will serve as a work-readiness credential certifying competence in basic skills.
For employers who want to raise skill levels overall, a variety of approaches is available. These include training employees, promoting lifelong learning as a part of the corporate culture, incorporating on-the-job training initiatives such as experiential learning, participating in partnerships with vocational schools or apprenticeship programs, and doing community outreach to elementary and secondary schools.
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The Institute for Corporate Productivity (i4cp, inc.) improves corporate productivity through a combination of research, community, tools and technology focused on the management of human capital. With more than 100 leading organizations as members, including many of the best-known companies in the world, i4cp draws upon one of the industry’s largest and most-experienced research teams and Executives-in-Residence to produce more than 10,000 pages annually of rapid, reliable and respected research and analysis surrounding all facets of the management of people in organizations. Additionally, i4cp identifies and analyzes the upcoming major issues and future trends that are expected to influence workforce productivity and provides member clients with tools and technology to execute leading-edge strategies and "next" practices on these issues and trends. i4cp is a for-profit company with offices in St. Petersburg, Florida.
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