Helping to identify talent and address development needs
Every business needs to identify the skills in their team and The International Trade Council can help with people development and succession management with a Skills Gap Analysis.
Skills gap allows you to target your training spend so you can make the most of your budgets. It allows you to evaluate the impact of any training carried out and is specifically created for your specific business
The importance of skills gap analysis
Skills gaps can occur at an individual, departmental or organisational level at any time because staff lack critical or non-critical skills due to changes in the working environment .
Skill gaps like these, can have major implications for companies as they will be unable to reach their potential productivity and profitability. This could result in employers not being confident that their workforce can complete the conditions of an agreed contract which in turn could result in higher costs for customers and loss of customers and an increases amount of complaints.
On an individual level also, there could be some negative implications. If an individual feels their development is not being supported by their organisation they may experience general job dissatisfaction or stress caused by a lack of investment in their skills and therefore chose to move on to a company or business who offer better opportunities for skills development .