Could more collaboration close the skills gap for new graduates?

A new study reveals that despite progress, the majority of new hires lack the skills necessary to perform at a high level in the workplace.

What’s more, the lack of collaboration and alignment between academia and business, along with planning and budget limitations, sideline efforts to prepare students for the skills they will need to be successful in the professional world.

Building Tomorrow’s Talent: Collaboration Can Close Emerging Skills Gap,” from Workday and Bloomberg Next, also points to barriers that keep new graduates and existing working from being prepared for current and future workplaces. The study highlights how skills needs have changed in the face of new technologies and the evolving nature of work.…Read More

Skills gap could have alarming consequences

An alarming skills gap between job openings and an increasingly shrinking pool of talented workers could “debilitate” key markets across the globe, according to a new analysis from executive search firm Korn Ferry International.

Those markets could lose trillions of dollars in unrealized annual revenues, with significant impacts on major economies evident by 2030, the analysis finds.

The study estimates the skills gap between future talent supply and demand will occur in 20 major economies at three milestones: 2020, 2025 and 2030, and across three sectors: financial and business services; technology, media and telecommunications; and manufacturing. It found that left to run its course, this shortage will create 85.2 million unfilled jobs and nearly $8.5 trillion in unrealized revenue in the economies analyzed.…Read More