Do You Have a Skills Gap?

If your organization is experiencing a skills gap, you are not alone. In a January 2020 report on reskilling, McKinsey identified that 65% of organizations are either currently experiencing a skills gap or anticipate a skills gap within the next 2 years.

We have experienced organizations trying to do more, with less, for a number of years. However, now, more than ever, we are witnessing a greater number of companies trying to absorb more work. For instance, many organizations ask their staff members to take on projects along with their “day job”. There are a lot of employees tackling project work yet they don’t have the foundational tools to help them be successful with that project. This is a good example of a common skills gap.

Recently there has been a lot of research focusing on internal skill gaps and what we can do to address those gaps. If your organization has not started thinking about how to reskill your workforce, now is the time to pull together a plan.

The McKinsey research also noted that survey respondents found that building skills internally was the most effective way to close a skills gap over the next five years. The research also identified that project management was one of the top 5 skills identified for the reskilling programs along with critical thinking, leadership, data analysis and adaptability.

I am a firm believer in the power of project management and the idea that everyone can benefit from learning how to effectively manage a project. Everyone. Project management skills include all the skills listed in the McKinsey report along with other valuable skills such as identifying and managing risk, comprehensive communication planning, managing stakeholders, team development, understanding change management needs, implementation planning and standardizing practices to help delivery high quality results.

We have heard these skills labeled as strategic competencies because these are the same skills your organization needs to deliver on your strategy. Based on research from the Brightline Initiative, 44% of the organizations surveyed indicate that the skills gap with internal talent is one of the most common challenges in implementing the organizational strategy.

Based on the research from these two organizations, we have the information we need to make the right decision which is to include project management skills into your reskilling programs. By introducing your employees to new skills and strengthening your internal talent, you will be able to deliver on both your projects and strategic initiatives.

If you have a skills gap, now is the opportunity to address it with a reskilling program. Don’t forget to include project management. Your employees will thank you!