How to Avoid A Skills Gap in a Growing Venture

The skills gap is growing problem facing numerous industries. No company, big or small, is exempt from a potential skills shortage, particularly in technical skills. According to a recent study, 60% of U.S. employers have job openings that stay vacant for 12 weeks or longer. On average these vacancies are costing businesses up to $800,000 annually. 

However, the implications of a skills gap takes on a different, often more intense meaning for a growing venture than an established corporation.

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Allison Davis
6 Steps to Use Visual Data to Build Effective Employee Growth Plans

Focusing on employee growth is crucial to the success of any organization. While engagement is important, investment in hard and soft skills will return exponential benefits in productivity and performance. 

There are also several indirect benefits to Skills Planning, like talent retention, that contribute to your company’s competitive advantage and bottom line. The top reason people left their jobs in 2018 was boredom. Employees didn’t feel like their managers were challenging them enough, so they sought career growth elsewhere. Additionally, a recent survey found 42% of respondents highlighted learning and professional development as the most important factors when deciding where to work. 

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Allison Davis
4 Ways Data Visualization Can Improve Your Decision Making

Every day, business leaders are responsible for decisions that impact the outcomes of their organizations. Some of these decisions can hold massive implications. Luckily in the digital era, big data has led the way and empowered leaders to make better, data-driven decisions.  

Big data allows businesses to leverage massive quantities of information. We produced 2.5 quintillion bytes of data per day. While new technology offers us the means of collecting lots of data, the information renders useless if we cannot turn it into actionable insights.

Enter data visualization: a graphical representation of information and data.

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David Ingram
How Skills Planning Can Enhance M&A Synergies

Mergers and Acquisitions (M&A) offer an effective strategy for companies looking to enhance their competitive advantage and bottom line. According to the Institute of Mergers, Acquisitions and Alliances, the number of M&A deals decreased by 8% in 2018. However, the average value of these deals has increased to 3.8 trillion USD.

These numbers show us that the financial stakes of M&As are higher than ever, and the importance of achieving post-merger synergies is vital to the long-term success of the companies involved.

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Allison Davis
Why The Skills Gap Is Still Growing

As industries continue to move towards a new, digital era of work, the skills gap continues to grow across the workforce. To give you an idea of the extent of the gap, take a look at some of these staggering statistics:

  • 60% of U.S. employers have job openings that stay vacant for 12 weeks or longer (Careerbuilder)

  • Nearly 80% of Americans agree there is a skills gap, and more than 35% say it affects them personally (Udemy)

  • The skills gap could leave a damaging $2.5 trillion impact on the U.S. economy over the next decade (Deloitte)

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Allison Davis
Why Your Employees Want You To Focus on Career Growth, Not Just Engagement

Employee engagement has become an overused buzzword and often misinterpreted as only developing "engaging" cultures that keep employees happy. Statistics tell a different story.

In 2018, it was predicted that 42 million employees would leave their jobs.

Why are these statistics so dismal if employers are emphasizing employee engagement?

According to a recent poll of nearly 5,000 professionals, the top reason people are looking for a new job is that they are bored. Employees don't feel like they are challenged enough and are seeking new means of professional growth.

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Allison Davis
Top 5 Skills Needed For Cloud Transformation

Employee engagement has become an overused buzzword and often misinterpreted as only developing "engaging" cultures that keep employees happy. Statistics tell a different story.

In 2018, it was predicted that 42 million employees would leave their jobs.

Why are these statistics so dismal if employers are emphasizing employee engagement?

According to a recent poll of nearly 5,000 professionals, the top reason people are looking for a new job is that they are bored. Employees don't feel like they are challenged enough and are seeking new means of professional growth.

Read More
Allison Davis
The Best Way To Identify and Track Your Team’s Hard and Soft Skills

As a business manager, you are constantly looking for optimal combinations of the various skills and capabilities of your workforce. You recruit and train based on specific requirements that will help you meet your business objectives. You build teams based on strengths and weaknesses that will produce the best performance.

You don’t just manage people, you manage skills. Therefore, you need to keep close tabs on your workforce’s current skills and capabilities in order to make effective, timely business decisions.

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Allison Davis
E-book: Iceberg Ahead- How To Create a Better Team Through Visual Data

Every day the leaders, managers, and CEOs of the business world proceed at the helm of their vessel, without an accurate understanding of the state of the company below decks. Complacency creates an environment of reactive resource planning. In business, you need to be able to shift course quickly, and the linchpin is having accurate information about your team and the skills needed to keep alignment. Ignoring this aspect of leading people can carry grave consequences.

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Allison Davis
How Skills Planning Can Help Your Company Achieve 6 Types of Transformations

All organizations will face a significant change at some point during their existence. How business leaders respond to these changes will determine the success -- and sometimes survival -- of the organization. While aligning resources, capital, and systems with business goals is a crucial part of a successful transformation, aligning your skills and capabilities is equally important.

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Allison Davis
4 Key Reasons To Grow Your Workforce Internally

As the skills gap continues to widen, especially in technical fields, companies need to consider the long-term value of training employees internally versus hiring new people. A shortage of top talent already exists across several industries. According to the 2018 Talent Shortage Survey,  33% of employers say the main reason they can't fill roles is a lack of applicants, while 27% say candidates lack the necessary hard or soft skills.

The quantity of available data is massive. Nearly every action in a business can be tracked, analyzed, and improved. However, how we translate big data into actionable insights is still a work in progress.

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Allison Davis
The Power of Data Visualization

Organizations are leveraging data to improve all aspects of business. Many industries are adopting a data-driven mindset to make better business decisions, personalize the customer experience, and enhance products. Even non-technical industries, like fashion and sports, are finding unique ways to incorporate data into their products and operations.

The quantity of available data is massive. Nearly every action in a business can be tracked, analyzed, and improved. However, how we translate big data into actionable insights is still a work in progress.

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Allison Davis
The Surprising Reason Why Your Digital Transformation Could Fail

The phrase digital transformation has become a regular buzzword in the business world. Organizations are gearing up to incorporate new technologies like cloud infrastructure, AI, and the Internet of Things, all promising new operational efficiencies and competitive advantages.

CEOs referring to "digital" in their strategic plans increased from 2.1 percent in 2012 to 13.4 percent in 2018. It's not all talk either. Gartner predicts worldwide IT spending is projected to total $3.8 trillion in 2019, an increase of 3.2 percent from expected spending of $3.7 trillion in 2018. Those are some significant, expensive commitments to change.

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Allison Davis
4 Myths About Tracking and Identifying Skills Gaps

A skills gap can be a costly, time-consuming problem for businesses. As industries continue to shift towards digital, companies need to find more proactive approaches to avoid gaps, instead of managing them as they appear.

How Do Companies Currently Track and Identify Skills Gaps?

While many companies recognize the need to optimize their workforce, not everyone has developed an ideal method for tracking and identifying skills gaps. Here are some methods we see companies using today.

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Allison Davis
What Are The Business Benefits of Having A Skills Inventory?

As we dive into the age of digital transformation, the skills gap continues to expand. According to PWC’s 2019 CEO Survey, “availability of key skills” moved from 5th to 3rd amongst issues CEOs perceive as threats to organizational growth.

Businesses should always track their workforce’s skills and capabilities. Without this data, leaders could be making uninformed business decisions that are costing them valuable time, money, and talent. How can businesses avoid the consequences of a looming skills gap?  

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Allison Davis
How Do We Currently Manage Skills?

How organizations manage these assets determines their future. Yet, skills management is most often ignored or neglected by employers. Too often, skills are managed on resumes and rarely updated spreadsheets. Few organizations have an accurate inventory of skills. Work gets assigned without knowing the full capabilities of team members. Planning occurs without an accurate picture of vital assets.

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Allison Davis
Visual Workforce Launch Announcement

Finally, there’s an easy way for IT organizations to create and maintain a living technology, skills, and competency inventory: Visual Workforce.

Visual Workforce is IT focused and helps organizations identify their best employees and map contributions to strategic objectives.

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Allison Davis