A lack of skilled people can lead to serious business consequences. For many companies, this “skills gap” has resulted in delays in product releases, reduced customer satisfaction and loss of revenue. According to one recent survey, more than half of employers report that when positions are not filled quickly there is a high (20 percent) or medium (37 percent) impact on key constituents (customers, investors, etc.). And the gaps aren’t found only in areas of chronic shortage like engineering—they’re in occupations as varied as production workers, purchasing staff and powerline-technicians repairing electricity lines.
Complicating the problem is that organizations often need to find the skills they need very quickly. As business models change, as companies push into new markets, and as customer demand ebbs and flows, companies that can quickly and fluidly tap into the skills they need—where and when they need them—can develop a formidable strategic advantage.
All too often, however, standard solutions to solving the skills gap—like retraining existing workers or taking the time to find, recruit and hire new workers with the requisite skills—just aren’t fast enough. Companies need to think creatively about new solutions to tapping skills on demand.