Skilled workers are increasingly rare to find. This is something that many established economies, such as those of the US, UK, Japan, and others, have to come to term with. Businesses are struggling to attract people with the necessary expertise and qualifications in order to grow. And all employers know it. In fact, one of the biggest issues with companies that employ more than 20 employees is recruitment and retention. Even though it is a sensitive political subject, many companies are relying increasingly on the external skilled labor force. Businesses are struggling to make it in a challenging global market by looking abroad for talent. This raises many questions such as putting native workers at a disadvantage and further influencing the economy on a much larger scale. Here are some notes to take in on how to deal with a skills gap.

1. Technology and the skills gap

Technology has proven to be a double-edged sword when it comes to this subject. It is the cause and a partial solution to the skills gap. Tech skills themselves are complicated and hard to come by, therefore, are a symptom of what technology can do for a business. With the rising demands for skills, investments in innovation in new business solutions rises as well. We use technology to optimize processes, simplify tasks, and make certain operations even possible. The downside of that is that some types of jobs that were previously occupied by people are now made redundant. Take the robotic process automation and machine learning. Those are all about optimizing automation on levels that have not been present previously. Technology is regulating the impact on skills shortages. Businesses that include finance, accounting, marketing, manufacturing, logistics, and many more, are all made much more efficient and error-free. More basic tasks are automated and employees can add value in areas that machines cannot. Balance is key.

2. Outsourcing talent and expertise

In order to offset this lack of talent, businesses are increasingly reaping the benefits of the international labor marketplace. Some economies in particular, like Canada for example, are relying on the external sources of skilled labor for its growth. World’s biggest economies are advancing at full speed after the 2008 global financial crisis. And for that to run smoothly, a growing production staffed with an adequate number of skilled workers is a must. Recruiting in or from a different country is not without its own hurdles. When figuring our hot to recruit, retain, and motivate people from different areas of the world, there are different challenges to consider. The main concept we need to grasp is that we are physically removed from the culture, country, and the individual himself. We may not understand any of those aspects which can be unique for every potential employee. Also, there is the question legalities and law. Depending on the part of the world we find ourselves in, there are strict laws involved in acquiring foreign skilled labor. It is highly recommended to hire a law firm to handle all the legal aspects.

3. Conventional and traditional means

New solutions to a skill and labor shortage will always be sought to meet increasing demand. But the truth is, investing in local sources will always be the most cost-effective solution. Employees have realized for some time now that the need for life-long learning and skill advancement is paramount. Development and learning programs are still critical in keeping our local workforce up to speed on their skills and competencies. This goes for people entering the workforce, as well as for those that are already in it. It will help close that skills gap at all levels. Medium and high-level jobs especially, as these are what primarily drive the economies upward. Remember those hurdles we were talking about? Those are often financial in nature. In certain countries, it is very expensive to import skilled workforce, mostly because of the laws that are in place to protect the local workforce. Those same laws can be very intricate and complicated and usually necessitate hiring professional help. If in any way, shape, or form possible, we should always start with trying to hire local skilled labor.

We can sum up three areas that drive an organization and in extension, entire economies. Those are people, processes, and technologies. It is always a good decision to invest in all three of them. Advancements in technology allow us to streamline and optimize menial jobs and therefore, allow workers to contribute in more meaningful ways. People are the bread and butter of any organization or economy and should never be neglected in these regards. Investing in our employees will bring us great benefits and will ensure a long and prosperous business life.