The mantra over the last decade was, “We need to fix the skills gap.” But that was pre-pandemic – when the shortage of 21st century skills was the greatest threat to national economic success.

Of course, the skill gap issue is still around – and could even increase thanks to COVID. But a huge part of the solution is providing the necessary training for workers. And this is in the hands of employers.

Before COVID, employers were often quick to blame the education system for not delivering programs that kept us with the quick pace of technology, not developing the strong work ethic that drives a competitive economy, and not preparing young people with “work-ready” soft skills.

That argument is still simplistic and one-sided. Yes, there’s a skill gap, but it’s a two-way street – employers must take responsibility to bridge the training gap so our economies can start thriving again.

What Employability Skills Do Young Adults Lack?

We often hear about recent graduates’ lack of soft skills – communication and social skills, critical thinking, creativity, innovation, and problem-solving. 

But isn’t it the goal of traditional university degree courses to teach these social skills? 

Not that long ago, college students had to form arguments about relevant issues, counter objections, and develop the ability to put themselves in someone else’s shoes and consider other points of view. Students were also involved in social and sports clubs that developed teamwork and conflict resolution skills.

So, what happened? Are students different? Is the university experience different now? 

It’s probably true that many universities focus on academic rigor at the expense of developing interpersonal skills and learning how to apply that knowledge.

But according to Dr. Eric Frazer, author of “The Psychology of Top Talent” and Assistant Clinical Professor at Yale University School of Medicine, there’s also another problem. Frazer believes students are less engaged in extracurricular activities because their social connections mainly occur online. Rather than join a club, they join an online group or an app. This digital generation believes that the best way to solve a problem is to “Google” a solution on their smartphone.

Employers say that graduates today lack specialist skills, or the knowledge needed to perform a job. According to a national employer survey by the Department of Education in the U.K. in 2019, “over 84% of skill-shortage vacancies were at least partially caused by a lack of technical or practical skills.”

Part of the problem is that by the time a student graduates, their knowledge is already out of date. Many technical degree courses can’t keep up with the technological changes that most industries face.

In light of these challenges, universities should do more to provide industry-driven education that prepares young adults for work. But they need support from employers to help them build talent pools with the necessary skills relevant in today’s companies. So, what’s the solution?

The Key to Building Quality Talent Pools

A critical solution to work readiness is industry partnerships with universities. Employers need to be involved in creating curriculum and providing students with opportunities for practical, hands-on experience like work placements.

Better collaboration with universities would also help employers understand that they can’t just post a job description for someone with a specific degree and assume they’ll get everything they want – from arriving on time to collaboration skills to clearly expressing ideas and correctly responding to critical feedback. Most graduates don’t start out as a “finished article.” And once in the hired position, they’ll need ongoing training to meet the job requirements. 

Is it a Training Gap or a Skills Gap?

On-the-job training studies suggest we need much more industry involvement. According to the U.K. employer survey, only 27% of employers provided work placements for students in 2019 – down from already 30% in 2016.

When it comes to workforce training, corporate spending on L&D in North America has been dropping since 2015. Over the last few years, spending in the U.K. has been stagnant and now appears to be declining.

Additionally, IBM’s recent global workforce study found that half of all businesses don’t even have a skills development strategy in place.

The probability of a pandemic-induced global economic downturn may cause companies to cut back even more on pipeline and workforce training – something we must prevent from happening at all costs. Going forward, solutions must be built on and driven by greater collaboration between industry and universities.

Final Thoughts

Learning is an ongoing process. When deciding on what training to implement, remember what’s most important is that you’re showing your employees that you value their education and are working to eliminate any skills and training gaps. As technology continues to dominate the business world, companies that devote time and resources to train their employees will be the ones who attract top talent.

If you need custom training solutions specific to your workforce, contact Impact Group Training today. We are experienced in developing and delivering customized training solutions for workforces of all sizes and industries.