A skill gap analysis is a method to identify the gaps in the skills in the organization and take relevant actions to bridge them—a technique to improve the company’s performance and stay competitive in the long run. Simply put, a skills gap refers to the difference between the skills required to carry out the job efficiently and the actual skills an employee possesses. Assessing where you are currently is the first step toward predicting and preventing the skill gap. The issue with the skills gaps is that people tend to think it is hard. However, the key is to take small steps – start with the group level and move slowly on from there; you can evolve into doing a complete skills gap analysis for an organization. HR has been guilty of wasting time and effort on irrelevant learning that won’t be used to further the business or the employee’s career. By creating a detailed description of every skill and building an inventory of critical skills with an eye toward revising and updating it regularly will allow an organization to sense changes to critical skills needs promptly and adjust. It is also essential to improve the Adjacent skills along the way. Adjacent skills are skills closely related to a critical skill and typically appear alongside it in employee skills profiles. It can be a worthwhile exercise to cast your net wider to ensure you become more agile and proactive in managing your key resource – your people! SplashHR people analytics monitor overall organizational health for every leader, job type, department, and location. Our People Intelligence lets you drill into the details – from Macro to Micro. Get meaningful insights from your data from multiple sources. Our skill gap analysis dashboard showcases how you can increase employee engagement, optimize the skills usage, drill down into the data, and potentially find the right fit for some of the roles and move them internally. It will help you reduce the recruitment cost and the onboarding and training time, thus maximizing the skills very quickly.

1. Skill Gap Analysis
What is it & Whydo weneed it?

2. The Current Scenario
One result of the Covid
pandemic for organizations
aroundthe globe is the period
known as “TheGreat
Resignation,” wherepeople left
roles to seek otheropportunities,
citing burnout,lackof flexibility,
work-lifebalance, and feeling
undervalued.
Andnow, with the currentglobal
situation being affected by the
crisis in Ukraine,the rising cost of
living, and spiraling fuel costs,
people arelooking to re-engage
and re-enterthe job market.
Around2.6%of the people are
returningfrom theirresignations
because theyfeel uncertainabout
the future

3. Are New SkillsRequired?
As perthe World Economic Forum, the future of jobs report states that –
• 85million jobs are expected to be displaced by 2025.
• 97million new roles are likely to becreated during this period; displaced
workers will need to be reskilled.
• 40%of workers will need reskillingof six months or less.
How dowe scale our reskilling efforts and
enable ourteams todotheir jobs“as normal”?
If the average time toreskill is 3-6 months, it is
an obvious priorityfororganizations tofocus
there.

4. What is a SkillGap Analysis?
One result of the Covid
pandemic for organizations
aroundthe globe is the period
knownas “TheGreat
Resignation,” wherepeople left
roles to seek otheropportunities,
citing burnout,lackof flexibility,
work-lifebalance, and feeling
undervalued.
Skills Needed – Skills Possessed
=
Skill Gap
A skill gap analysis is a method to identify thegaps inthe skills inthe
organization and take relevant actions to bridge them—a techniqueto
improvethe company’s performance and stay competitive inthe long run.
Simply put, a skills gap refers to thedifference between the skills required
to carryout the job efficiently and the actual skills anemployee possesses.

5. SkillGap Analysis at DifferentLevels
INDUSTRY DEPARTMENT ORGANIZATION PROJECT
TEAM

6. Conducting a SkillGap Analysis?
One result of the Covid
pandemic for organizations
aroundthe globe is the period
knownas “TheGreat
Resignation,” wherepeople left
roles to seek otheropportunities,
citing burnout,lackof flexibility,
work-lifebalance, and feeling
undervalued.
Going from thecurrentstate to the future state, you needto identify whereyou currently are
and map how to get there.

7. Why do we need a
Skill Gap Analysis?
To keepup with Digital
Transformation
It helps HR to have a betterunderstanding of
theworkforce’scurrentskills.
Invests in EmployeeDevelopment
and Learning
Enablesbetteremployeehiring and
recruitment plan
Identifies trendsfor BetterROI Careerpathing and edgeover
competitors

8. Consideration for SkillGap Analysis
Skill Gap
Analysis
Analyze the skills required In the future
Streamline jobs
androles
Guide business
leaders
Identify Critical Skills
Prioritizethe talent
strategies
Combining the right
mix

9. Solution?
SplashHR–Our PeopleAnalyticsPlatform
› SplashHR people analytics monitor overall organizational
health for every leader, job type, department, andlocation.
› OurPeople Intelligence lets you drillintothe details –from
Macroto Micro.Get meaningful insights fromyour data from
multiple sources.
› Ourskill gap analysis dashboard showcases how you can increase
employee engagement, optimize the skills usage, drilldown intothe
data, and potentially find the rightfit for some of the rolesand move
them internally.
› It will help you reduce the recruitment cost andthe onboarding
andtraining time, thus maximizing the skills veryquickly
About SplashHR Why SplashHR
Skill GapAnalysis Dashboard How will our Dashboard help you?

10. SkillsGap Dashboard
HR has been guilty ofwasting time and effort on irrelevant learning
that won’t be used tofurther the business or the employee’s career.
By creating a detailed description ofevery skill andbuilding an
inventory ofcritical skills with aneye towardrevising and updating it
regularlywill allow an organizationtosense changes tocritical skills
needs promptlyandadjust

11. Thank You
Read the CompleteArticle here:
Whatis a SkillGapAnalysis?