SKILL GAPS : A CONTINUED CRITICAL PROBLEM Breakfast in Business Dean Womer and Steve Finkelstein Prepared by: University of Missouri – St. Louis College of Business Administration 1
Today’s Messages Skills-Gaps continue to grow A sense of urgency is needed Together, we can make a difference
Count the F’s (below) FANNY FILINGER WAS OF THE IMPRESSION THAT EIGHTY-SIX YEARS OF HISTORY SHOW THAT SCIENTIFIC RESEARCH IS OF THE UTMOST IMPORTANCE IN EVERY CASE OF FUTURE GENERATIONS. 3
How Many F’s Did You Count? 5 3 4 6 7 9 8 4
Count the F’s (below) FANNY FILINGER WAS OF THE IMPRESSION THAT EIGHTY-SIX YEARS OF HISTORY SHOW THAT SCIENTIFIC RESEARCH IS OF THE UTMOST IMPORTANCE IN EVERY CASE OF FUTURE GENERATIONS. 5
How Many F’s Did You Count? 5 3 4 6 7 9 8 6
Count the F’s (below) FANNY FILINGER WAS OF THE IMPRESSION THAT EIGHTY-SIX YEARS OF HISTORY SHOW THAT SCIENTIFIC RESEARCH IS OF THE UTMOST IMPORTANCE IN EVERY CASE OF FUTURE GENERATIONS. Answer is 8 F’s 7
Today’s Objectives and Agenda Objectives: • Present survey results • Gain your insights and feedback Agenda: • Background Information • Demographics • Critical Skills and Gaps • Open Discussion 8
Background Information 9
NEW GRADS ILL-PREPARED Skill Gaps among newly-hired graduates is hurting U.S. competitiveness Almost half of the respondents said they have to provide readiness training for new hires. They reported that newly-hired graduates lacked such basic workplace skills as communication, creativity, and teamwork. The Ill-Prepared U.S. Workforce: Exploring the Challenges of Employer-Provided Workforce Readiness Training, a report produced by Corporate Voices for Working Families, ASTD, The Conference Board, and 10 SHRM in 2009
Skills-Gaps – Still an Issue • 52% of businesses surveyed said there is a skill gap among their employees • 63% said there is a skills gap with their applicants • 32% gap is urgent • 33% said gap would worsen The Skills Gap in our Region .” East Tennessee State University Study. 11
The Skill-Gap Issue “The future US workforce is here --and it is woefully ill-prepared for the demands of today’s and tomorrow’s workplace ” Are They Ready to Work – the Conference Board, Partnership for 21st Century Skills “Estimated that 80% of the labor shortage will involve skills, not numbers of workers potentially available.” Employment Policy Foundation (EPF ) 12
Survey Background 13
Skill Gaps Team • Dr. Keith Womer • Dean of the University of Missouri – St. Louis College of Business Administration • Steve Finkelstein • Senior Partner, Experience on Demand • Kathy Ntalaja • PhD Student, UMSL • Wes Boyce • PhD Student, UMSL 14
Survey Process & Timeline HR Survey Pilot Administer Compile Present Advisory Planning Survey Survey Results Results Group Oct / Nov Dec Jan Feb / Mar Apr / May June 2009 2010 15
Key Questions What are the critical skills? Where are the skill-gaps? What are the business impacts? How do we close the skills-gaps? 16
Partnership University Business Working Together 17
Definitions Critical Skill (1) Required to perform one’s job at a high level of performance. Skill Gap (2) A critical skill that is not meeting job requirements now or in the future. (1) Soft skills, not technical skills (2) Not a gap created by shortage of people 18
Skills-Gaps: A Growing Concern Required Talent - # and Skills Performance Needed Skills-Gaps Workforce Capabilities Time
Demographics 20
Survey Overview Population: UMSL College of Business Administration (1) Alumni, minimum 4 year degree and HR professionals Respondents : 317 Administered : January 2010 Demographics: Good distribution across industry, age, gender, company size and type (1) Although the survey population was targeted to the UMSL College of Business Alumni, the results are representative for other populations. The HR professionals completed their responses for their companies and the supervisors/managers answered the questions for their departments – these perspectives included many different populations. 21
Demographics Current or most recent Gender: • Male position/title: 67% • Female • Manager 33% 28.4% • Analyst 12.6% • Staff Level Type of Company: 12.6% • Other • Private 12.3% 45.4% • Director • Public 9.8% 39.4% • Vice President • Not for profit 9.8% 7.6% • President • Other 8.2% 7.6% • Entry Level 5.7% • CXO 2.2% Highest graduated degree: • Board Member 0.9% • Bachelor’s 63.2% • Master’s 31.2% • Other included the following: • Doctorate 3.2% – Instructor/Teacher • Other – 1.6% Partner – Portfolio Manager 22 • Associate’s 0.8% – Consultant
Company's annual revenues? Good mix of large and small companies - Revenue What range below represents your company's annual revenue? Large Small >$5 Billion, 23.0% $0 - 50 Million, 37.2% $1-5 Billion, 18.6% $500 - 1 Billion, $100 - 500 $50 - 100 Million, 5.5% Million, 10.9% 4.9% 23
Individual / Non Supervisor versus Manager/ HR .Rep. Good mix of HR/Supervisors and Individuals Please check the option below that best describes your current or most recent position. Individual / Non- supervisory, 40.6% Manager/Supervisor or Human Resources Representative, 59.4% 24
Work History - Different companies worked for in your career? 55% Only had 1 or 2 jobs Since graduation, how many different companies have you worked for in your career? >5, 10.4% 5, 8.8% 1, 33.6% 4, 15.2% 3, 10.4% 2, 21.6% 25
Critical Skills and Skills Gaps 26
List of 35 Skills Skills Skills Active Listening Driving Stakeholder Value Applying Technology to Business Employee Engagement Business Case Development Facilitation Skills Change Management Generation Differences Management Creativity / Innovation Global Business Perspective Critical/Analytical Thinking: Leadership Customer-Orientation Meeting Management Data Analysis Networking - Internal and External Decision Making Oral Communications
List of 35 Skills Skills Skills People Management/Supervisory Social Media Performance Management/Measures Strategic Planning / Strategic thinking Portfolio Management Teamwork/Collaboration Presenting and Selling Ideas Time Management Prioritization, Focus Vendor Selection & Management Process Improvement /Lean Thinking Versatilist Project Management and Execution Workforce Diversity and Inclusion Relationship Building: Written Communications Risk Management
Critical Skills / Skills Gaps Game Critical Skills Skills Gaps 1 1 2 2 3 3 4 4 5 5 6 6 7 7 8 8 9 9 10 10 29
Top 10 Critical Skills 2010 – 7 Are the Same as 2008 2010 Critical Skills* Active Listening N Customer-Orientation # Critical/Analytical Thinking # Oral Communications # Time Management N Teamwork/Collaboration # Written Communications # Prioritization, Focus N Decision Making # Leadership # # indicates a top 10 skill from 2008 that appeared in the top 10 for 2010 (N) indicates a skill that is new for the 2010 survey 30
Top 10 Critical Skills Gaps 2010 2010 Skills Gaps Leadership # People Management/Supervisory # Change Management # Strategic Planning Written Communications # Prioritization, Focus Active Listening N Time Management N Critical/Analytical Thinking # Lean Thinking / Process Improvement N # indicates a top 10 skill from 2008 that appeared in the top 10 for 2010 (N) indicates a skill that is new for the 2010 survey 31
Compare Top 10 Critical Skills - 2008 vs. 2010 7 out of 10 Critical Skills In 2010 were in 2008 2008 Critical Skills 2010 Critical Skills* Critical Thinking and Problem Solving Active Listening (N) Decision Making Customer-Orientation # Execution Critical/Analytical Thinking # Oral Communications Oral Communications # Teamwork/Collaboration Time Management (N) Leadership Teamwork/Collaboration # Customer Orientation Written Communications # Written Communication Prioritization, Focus Data Analysis Decision Making # Change Management Leadership # # indicates a top 10 skill from 2008 that appeared in the top 10 for 2010 (N) indicates a skill that is new for the 2010 survey 32
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