The document discusses the need to close three costly gaps: the skills gap between what employers require and job seekers possess, the career planning gap, and the training gap. It proposes a competency management platform to address these gaps by providing validated skill profiles for job seekers and employers, assessments to identify skills, and training solutions aligned to skills needed for in-demand jobs. This would help employers make better hiring decisions while providing job seekers a way to demonstrate their qualifications and identify paths to address skills gaps.