Closing the Skills Gap in a Global Market

Whatever avenue you choose, it is important to step back and realize the implicit opportunities in these challenges

. There is untapped potential available for all organizations, and the companies that act decisively will realize this potential. The advantages for a company that proactively taps existing and potential labor markets will be expressed in lower labor costs, strong retention and workforce productivity. There are many options to consider in both mature markets such as the U.S. and Europe, and in the emerging markets. Finally, many companies are beginning to think in terms of a true global workforce with the inherent understanding that economies, costs and needs are sure to shift. Their model must be used by the company and have the flexibility to shift with these changes. As you go about your 'day job,' begin to challenge yourself. Are you thinking about changing your labor model to entice future retirees to spend a portion of their time at your company? Have you given every opportunity to valuable resources such as part-time mothers and virtual workers? Have you created an alternative career path to 'up or out'? Who and where is the workforce of tomorrow? Have you considered using employee satisfaction survey or employee engagement surveys? What is your need and responsibility when it comes to education and development? Exploring the answers to these questions today will improve you overall Human Capital Management strategy and may prove to be the lifeblood of your company tomorrow.

Closing the Skills Gap in a Global Market

By: Andrea Watkins

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