As appeared in the Denver Business Journal — By Stephanie Klein
One of the biggest challenges our economy, as well as many businesses, is facing right now is a pervasive and ongoing skills mismatch. Companies are seeking talented, experienced people, but unemployment numbers are still high and holding flat, demonstrating that their quest for skilled workers is bearing little fruit.
Unfortunately for many employers and unemployed individuals, this trend shows no signs of slowing down and instead appears to be increasing. Reports suggest that by 2020, high-pay, high-skill jobs will account for nearly 75 percent of new jobs being created, with only a small percentage of individuals available to fill them. That leaves about 25 percent of low pay, low skills jobs to be divided among the majority of workers.
The impact of this trend is wide-reaching, for both employers and the unemployed. Luckily, there are steps both parties can take to address this trend, adapt, and survive – even thrive – in an economy increasingly focused on skilled workers.
If you’re hiring and are continually running into walls and roadblocks finding specialized talent, it might be time to reevaluate what you’re looking for and who you’re hiring. Many employers identify a very specific type of employee they want, with a very specific skill set. The reality? Those people already have jobs, and unless you can offer them an incentive to make the switch, you’re out of luck. Many businesses simply do not have the money to pull the best talent in. The solution is to think differently about who you’re looking for and how you might mold a potential employee to fit what you need.
There are a surprising number of incentives, grants and other aids out there to help you train your new employee and get them the skills they need. By contacting your local workforce leadership, such as your local workforce center director, you can learn about numerous opportunities for aid, from temporary payroll subsidies to training subsidies to on-the-job training programs.
If you’ve found an employee that fits 75 percent of what you want and need, there are plenty of opportunities available to you to help them grow and learn to become the total package. Or, if you’d like to work on your existing staff’s development by teaching all of them a particular skill or technology, you can do that too, through training program subsidies in which the government will help you pay for on-the-job training. The result? A better engaged staff or skilled new employee without huge costs, and a company primed to grow and improve.
When it comes to addressing the concerns of those individuals reaching upwards of 99 weeks of unemployment or more, the approach is similar: it’s time to reevaluate what you’re doing. The reality is, if you’re still out of work for 100 weeks, you’re missing something. Many chronically unemployed individuals approach their job search in a stale way, searching for the job they once had in the industry they’re familiar with. While this is comfortable, it’s not likely to yield success, because for many, those jobs and industries are simply gone, and they’re not coming back. Instead of looking for something that isn’t there, it’s time to get back to the basics; it’s time to become a skilled worker. For many, this begins at square one: learn how to interview. Learn basic computer skills. Take a step outside of your own world and involve yourself with others who can offer you help. This can be as simple as picking up a book at the library or visiting your local workforce development center to brush up on interview skills, resume writing and basic computer knowledge.
If the skills you have are no longer in demand, strengthen your basic skills and then consider learning something new. Your local workforce center, as well as many community colleges, are less expensive and useful ways to get the education needed to succeed in this economy. There are countless free clubs and organizations in the Denver area focused on helping the unemployed learn useful and employable skills. Come to grips with reality and get involved with them.
Whether you’re an employer or an individual looking for work, the issue of skills mismatch is a big one, and it’s not going away any time soon. For both, the solution is clear: stop what you’re doing, reevaluate your approach, and adjust your criteria (if you’re an employer) or your skill set (if you’re an individual) to meet the demands of our changing economy. You don’t have to go it alone – there are many programs, incentives, and resources out there designed to help us all tackle this challenge.
Stephanie Klein is President and CEO of Experience Factor, a Denver staffing and placement firm, and past president of the Colorado Human Resource Association. Contact her at 303-300-6976.