Often, organizations hemorrhage time and money as they endeavor to overcome team skills gaps while simultaneously trying to retain experienced team members. Recruiting and training new team members is costly. A study by the Center of American Progress found that the median cost associated with replacing an employee is equal to 21% of their salary. Furthermore, it can take nearly two years for a replacement member to acquire the same level of productivity as their predecessor.
Bridging the Workforce Skills Gap
Combining online learning with hands-on training is the best way to ensure that you can keep your workforce agile and adaptable, allowing you to find new employees or fill gaps internally and avoid the loss of productivity that results from the workforce skills gap. Here are five ways employers can start briding the skills gap now.