What is the skills gap? It’s simple. It’s when there is a difference between the skills required for a job and the skills an employee actually possesses. Besides keeping the employee from performing and completing their job, it has a major effect on the business as a whole. Not the good kind either.
The Gap is Growing
The problem only seems to be getting worse. In fact, according to Morgan Walker, M.S., Eleven Fifty Academy’s Manager of Employer and Industry Engagement, the gap is growing and it’s only likely to continue to rise.
“By the year 2025, over 60% of all positions, even outside of tech, will require some sort of post-secondary education,” says Walker.
Post-secondary education doesn’t necessarily mean a degree, but rather ongoing learning (such as boot camps or certifications) to keep up with the ever changing nature of work. Understanding and championing new technology, as well as tapping into tech-related talents, will be critical for employees to narrow the gap.
It’s a Big Deal
Just how serious is the employee skills gap? Research shows that the skills gap is likely to cause $2.5 trillion in damage to the U.S. economy over the next decade. Millions of unfilled positions could potentially cost businesses up to $250 billion a year.
Besides a hefty price tag, the skills gap comes with a laundry list of negative ramifications. When employees can’t comprehend the technology at their fingertips:
- Productivity is reduced
- Customer service is less effective
- Innovation in product development declines
- Business profitability is lowered
A better grasp on technology can play a big role in reducing these negative effects. If employees lack technology skills to be efficient, communicative, and innovative, then overall business success will suffer.
Understanding the (Technology) Problem
Technology is always evolving, often faster than both employers and employees can manage. Of the 80% of companies that are facing digital transformation, 90% are struggling to keep up. This trend stretches across all industries.
It’s hard for people to embrace change and master new skills. In fact, a third of office workers globally are worried their current roles will advance past their current skills. This is particularly true related to their digital and tech abilities.
Even though employees know they need to adapt to the changing times, 68% of Americans are intimidated when they need to learn how to use a new technology.
Who stands out in the crowd and avoids adding to the employee skills gap? Those who aren’t afraid to dive into the digital world and master their technology skillset!
Time to Skill Up
Lucky for you, Eleven Fifty’s mission is all about closing the technology skills gap. Whether you want to pursue a career in cybersecurity, land a computer coding job, become a web developer, or simply upskill your HTML knowledge, Eleven Fifty can help.
How do you make yourself a more valuable and competent employee? Learn something new. Develop a skill and refine your talent. Tackle technology head on and you’ll outshine the others.
With tech-related jobs being among the most in demand and lucrative, you could consider coding to be one of the most important job skills of the future. Eleven Fifty’s coding bootcamp will guide you to greatness, equipping you with the education and experience to rise above the employee skills gap.
Is a coding job what you’re after? Eleven Fifty will get you there. With a high coding bootcamp job placement rate, your new skills will take you the top.