The top four soft skills that companies and academics say are needed include, team work, analytical reasoning, complex problem-solving, and agility and adaptability.
Only 35 percent of corporations feel new recruits and students are well prepared with both hard and soft skills to perform at a high level in a professional environment.
Just 30 percent of corporations and 39 percent of educators say they are collaborating to address the skills gap and help reskill and retrain employees.
Leaders in academia and business know workplace skills requirements are changing. Though more can be done to invest in curriculum and reskilling programs to ensure the preparedness of tomorrow’s talent, the survey shows that only half of businesses have formal plans in place to address the impact of emerging technologies.
In addition, approximately only four in 10 corporate respondents plan to invest in reskilling current employees. Eighty-five percent of companies say their top way to reskill employees is to provide internal, in-person training, while 62 percent use self-service or online training. In addition, more than half plan to evolve job responsibilities to reflect future needs and improve their recruitment of diverse talent to address the impact new technology has on their workplace.
Despite 41 percent of businesses planning to invest in reskilling, approximately half of corporate respondents anticipate facing budget constraints in order to do so. Academia faces the biggest investment crisis of all, with 84 percent of academic respondents saying budget resource constraints will be their biggest anticipated challenge in deploying plans to better prepare students for the future workforce.
More than 50 percent of corporate respondents plan to evolve job responsibilities to reflect future needs and improve their recruitment of diverse talent to address the impact new technology has on their workforce.