Latest news with #skillsGap
The Independent
02-07-2025
- Business
- The Independent
Winning the future of work: why capability beats concept
SThree is a Business Reporter client There have been issues with skills gaps in the booming STEM industry for some time now. The pace of change and society's acute reliance on the sector's breakthroughs – from the green transition to AI to biotech innovations – has meant that the demand from companies to 'find talent' has skyrocketed. But, meanwhile, the supply of that talent is struggling to keep pace. It's not a comfortable situation for companies to be in. They have strong potential and ideas, through which they're trying to gain a competitive edge, but they can't find the right people to help them realise their ambitions. Indeed, according to our own global research, even top-performing countries are facing structural challenges – whether that's a shortage of engineering graduates, a lack of gender diversity or an overreliance on outdated sourcing models. The UK, for example, ranks eighth globally for its foundational and specialised education, yet it lags in innovation output – a clear sign that education alone isn't enough to drive growth, and that without targeted investment in workforce capability, even the strongest academic ecosystems risk underdelivering. These issues are not unique to the UK – it's a phenomenon being experienced at a global level. But what we've found in our role as an international STEM workforce consultancy is that the most successful businesses think in ecosystems. They're not simply filling vacancies; they're investing in the resilience and agility of their future workforce. That means thinking outside the box. It means recognising that your next high-impact performer may not come from a traditional background or follow a conventional career path. They may be a sector switcher, a self-taught developer or someone whose unique perspective proves to be the business's hidden advantage. And it means shifting from reactive recruitment to proactive workforce planning, identifying adjacent skillsets, investing in internal upskilling and building diverse teams equipped for complex, ever-evolving challenges. From our work with industry leaders, we've seen a consistent pattern among the organisations staying ahead of the curve. They decentralise hiring, moving beyond local markets, tapping into remote and international talent pools rather than restricting themselves to a narrow geography. For companies such as this, hybrid work isn't just a job perk or a benefit for incoming employees – it's a structural enabler for accessing hard-to-find skills and diversifying talent sources. Industry leaders co-create the pipeline, build strategic partnerships with universities and training providers, support non-traditional pathways such as bootcamps and apprenticeships and adopt skills-based hiring models. They don't wait for government policy to fix the system; they actively shape it themselves. And they plan for potential. They use data and workforce intelligence to anticipate emerging needs and act early, planning for the skills they'll need next, not just the roles they have now. Strategising like this to close skills gaps is a job for the whole company – it's far from simply an HR issue. It should be a business-critical priority that demands board-level ownership, strategic investment, leadership accountability and a long-term vision that spans regions and sectors. After all, breakthrough technologies are reshaping our economy, society and world of work. There are big wins to be had in this period of unprecedented and extraordinary technological promise across STEM industries. But this race to innovate is no longer just a battle of ideas – it's a battle for capability. The question is no longer how, or who, to hire, but how to build a lasting, adaptable team. Because in the end, it won't be the boldest vision or the brightest idea that wins. It will be the organisation that builds the capability to deliver, time and time again. SThree partners with forward-looking organisations to build the resilient, skilled STEM workforces needed to thrive in a changing world. If you're ready to stop chasing talent and start shaping capability, get in touch. Let's outpace tomorrow, together. Timo Lehne is CEO of Global STEM Workforce Consultancy SThree plc. Appointed CEO in April 2022, he previously led SThree's largest region, DACH (Germany, Austria and Switzerland). Timo began his career with SThree in 2006 as a sales consultant and rapidly progressed through leadership roles. He holds a degree in International Economics and brings nearly two decades of experience in STEM workforce solutions.
Yahoo
30-06-2025
- Business
- Yahoo
US-UK trade, AI and a shake up of rules on investment advice
Sky's business correspondent Paul Kelso is joined by the secretary general of the International Chamber of Commerce, Chris Southworth, to discuss the impact of the new UK-US trade deal which took effect this morning. Is the rise of AI exacerbating the UK's skills gap? One upskilling platform claims it's costing the UK economy almost £62bn annually in lost productivity. Euan Blair, founder of Multiverse, explains the data. And, new proposed rules on investment advice could see firms allowed to offer generic suggestions to customers - in a move to help savers get better returns on their money. Sarah Pritchard from the Financial Conduct Authority explains what's behind the shake up. 👉 Listen and subscribe to the 👈
Sky News
30-06-2025
- Business
- Sky News
US-UK trade, AI and a shake up of rules on investment advice
Sky's business correspondent Paul Kelso is joined by the secretary general of the International Chamber of Commerce, Chris Southworth, to discuss the impact of the new UK-US trade deal which took effect this morning. Is the rise of AI exacerbating the UK's skills gap? One upskilling platform claims it's costing the UK economy almost £62bn annually in lost productivity. Euan Blair, founder of Multiverse, explains the data. And, new proposed rules on investment advice could see firms allowed to offer generic suggestions to customers - in a move to help savers get better returns on their money. Sarah Pritchard from the Financial Conduct Authority explains what's behind the shake up.
Forbes
18-06-2025
- Business
- Forbes
Graduating Into Uncertainty: Why Skills-Based Hiring Matters
As organizations continue to face growing skills gaps, HR teams are starting to rethink what a 'qualified' candidate looks like. By Lara Albert, Chief Marketing Officer, SAP SuccessFactors Graduation season is here, and for the Class of 2025, the usual mix of excitement and anticipation comes with an added layer of anxiety. These grads are entering one of the toughest job markets in recent memory, marked by economic uncertainty, hiring slowdowns, and rising competition for junior roles as AI displaces entry-level positions at an accelerated rate. But uncertainty is nothing new for the Class of 2025. These students applied to colleges during a global pandemic, spent formative years learning in hybrid or remote classrooms, and are now witnessing AI reshape the future of work in real time. According to research, of the 57% of seniors who entered college with a 'dream job,' fewer than half have that same goal today, and more than half report feeling pessimistic about starting their careers in the current economy. This wave of uncertainty presents an opportunity for both employers and graduates to adapt. For HR teams, it's a chance to rethink how early talent is identified and supported, shifting the focus from traditional credentials to skills and long-term potential. For graduates, it means continuing to build new skills post-graduation, especially those that AI can't easily replicate, and staying agile in a fast-changing job market. As organizations continue to face growing skills gaps, HR teams are starting to rethink what a 'qualified' candidate looks like. Traditional markers like degrees, GPA, or prior experience don't always reflect someone's true potential and can unintentionally screen out capable candidates, especially those who've followed nontraditional paths. That's why leading organizations today, like Capgemini, Grundfos, Frit Ravich, and SAP are investing to adopt skills-based hiring. By evaluating candidates based on their capabilities—what they can do, not just what they have done—organizations can uncover hidden potential, expand their talent pools, and open doors for candidates who may not follow a conventional path but offer tremendous value. In turn, skills-based hiring helps organizations build a workforce that's resilient and future-ready. In fact, two-thirds (64.8%) of employers surveyed by NACE reported that they already use skills-based hiring practices for new entry-level hires. By focusing less on resumes and more on real-world potential, grads gain a better shot at landing roles where they can grow and thrive, and organizations benefit from employees who can adapt and drive ongoing innovation and business success. A skills-first approach creates a more equitable and effective way to identify talent —highlighting ability over background, and uncovering value both externally and within your existing workforce. Here's how to get started: Rethink job requirements: Start by identifying the core skills needed for success in open roles. Many job listings include degree or experience requirements that may unintentionally exclude qualified candidates. Focus on must-have skills that will drive performance. Use skills-based assessments: Integrate practices like case study exercises or skills assessments into interviews rather than relying solely on candidates' resumes, educational background, or screener interviews. Increase skills visibility: Equip hiring managers with technology that makes it easy to see the skills a candidate has and where they align with organizational needs at scale. This allows for faster and more strategic hiring decisions. If you're graduating this year, don't let uncertainty hold you back. You may be entering a shifting job market, but your resilience, adaptability, and fresh perspectives are skills and qualities employers value. Here are a few ways to stand out: Lead with transferable skills: Communication, critical thinking, adaptability, and collaboration are among the most valued and transferable skills. These skills are in high demand and are often hard for AI to replicate. Show, don't tell: Use internships, job assignments, or volunteer work to demonstrate real world applicability of your skills. Portfolios, personal websites, or even social media content can bring your experience to life and give employers a tangible sense of what you can do. Embrace life-long learning: Learning doesn't stop when you graduate. Show prospective employers you're committed to growth by taking advantage of free or low-cost courses that help you build valuable new skills. Be flexible: Your first job is a steppingstone, but it doesn't define your career path. Stay open to opportunities that help you gain experience, even if they don't perfectly align with your dream job aspirations. This year's graduates are entering a job market in flux, but with the right tools and mindset, both HR teams and early talent can turn uncertainty into opportunity. Discover how SAP SuccessFactors helps organizations adopt skills-based hiring strategies.
Mail & Guardian
18-06-2025
- Business
- Mail & Guardian
Skills gap devours young people's dreams
Bias for academic qualifications over vocational training has led to an undersupply of skills in crucial areas such as equipping people to become artisans and entrepreneurs. Statistics South Africa didn't pull any punches in its The survey found that 46.1% of people in the 15 to 34 age group, and 62.4% of those aged 15 to 24, are out of work. The statistics agency said: 'For many young South Africans, landing a job is more than just a milestone — it is a crucial step towards economic independence and inclusion. Yet for millions, this first step remains out of reach.' The analysis looked at unemployment rates among young people with different types of education and said they illustrated 'the protective effect of higher education in a tight labour market'. Even so, 23.9% of university graduates and 37.3% of young people with vocational or technical training do not have jobs. While higher education clearly confers an advantage, these are alarming statistics and commentators speak with one voice about the reasons for the high youth unemployment. Factors they point to include: A mismatch between educational outcomes and market needs. The latest Under-investment in vocational training. The cultural bias for academic qualifications over vocational training has led to an undersupply of skills in crucial areas. The department list illustrates this, with screeds of positions for artisans at NQF level 4 (the equivalent of matric), such as welders, plumbers, tour guides and chefs. Lack of practical experience. Stats SA's analysis crystallises the issue: 'Without experience, youth struggle to get hired — yet without being hired, they cannot gain experience. This cycle of exclusion continues to fuel long-term unemployment and stalls skills development at a critical stage of life.' Deficiencies in foundational skills such as written and verbal communication; problem-solving and critical thinking; digital literacy and learning agility. Poor 'soft skills' such as teamwork, adaptability and emotional intelligence. Systemic challenge So much for the problem, which is about as serious an economic crisis as it's possible to imagine. What about solutions? It's clear that the education system faces a systemic challenge in its ability to adjust curricula in a way that prepares young people for the world of work, whether that means employment or entrepreneurialism. In response, the department of basic education is pursuing 'curriculum strengthening'. It's all about equipping learners with the competencies they will need to find jobs and emphasises the development of skills, values and character. The 'competency framework' covers curricula, teacher development, the learning environment, assessment and learning and teaching support materials. There's also a new focus on reading and language. According to The Fleisch says there's also a plan for three curriculum streams — academic, technical and occupational — in high schools, with learners choosing which one to follow exclusively from grade 10. Relevant education Learners from the technical and occupational streams will gravitate to vocational and technical training after matriculating, and in this sector, too, progress is being made. The department's deputy director general, Sam Zungu, said during a recent Vijayen Naidoo, chief executive of the Quality Council for Trades and Occupations, said a big feature of the associated new qualifications is a greater emphasis on practical skills alongside theoretical and workplace modules. And technical and vocational education and training (TVET) colleges, not students, will be responsible for providing workplace experience. The shift is supported by investment in new TVET colleges, more online programmes and modules, lecturer training and a 'centres of specialisation' model that offers industry-led training and promotes entrepreneurism. Naidoo said TVET colleges would no longer 'produce learners for unemployment' by offering irrelevant courses. 'If we can develop enough qualifications that industry demands, we can guarantee a higher uptake of learners into industry,' he said. Importantly, only the 'appropriate level' of maths and science to practise a trade will be required, not necessarily a matric pass. 'We want to get people through from learning to earning as soon as possible,' said Naidoo. As a development agency with decades of experience in igniting human capacity through education, Kagiso Trust knows better than most about the difficulties of turning policy into practice — and the size of the investment required in teacher training and resources. These must become national priorities if we are to provide South Africa's young people with the launchpad they need and transform our economy. Dr Mankodi Moitse is the chief executive officer of Kagiso Trust and serves as co-chair at Kagiso Shanduka Trust.
