We’re in a Skill Revolution where Skills are the new currency According to a McKinsey study, “Sixty percent of global executives expect that up to half of their organization’s workforce will need retraining or replacing within five years. More than a third said their organizations are unprepared to address the skill gaps…” SkillNet has developed a […]
What is a skills assessment A skills assessment is a survey or interview measuring skill and knowledge. We recommend a 1-5 Likert scale where 1 is emerging, and 5 is mastery. Skill assessment reports help leaders visualize who knows what and identifies gaps where training may be needed to maximize the growth and potential of the individual. Why skill […]
What makes a great manager A great manager comes from many things but a key theme is bringing out the best in their people. Great managers tune into issues, listen and coach, and guide success with a trusted relationship. One of the most important and easiest activities used by great managers are to run well […]
What is a skills assessment
A skills assessment is a survey or interview measuring skill and knowledge. We recommend a 1-5 Likert scale where 1 is emerging, and 5 is mastery. Skill assessment reports help leaders visualize who knows what and identifies gaps where training may be needed to maximize the growth and potential of the individual…
Each year, companies are losing billions of dollars due to underperforming employees and losing top talent.
In a recent study by the Bureau of National Affairs, companies loose $11 billion annually due to employee turnover.
In another study by The Engagement Institute, underperforming employees were estimated to costs businesses between $450-$550 billion a year.
That’s a high price tag for companies to absorb.
So what’s the answer…
Internet of Things. Big Data. User-generated content. It’s a different world today for technology professionals, and it seems that new technologies and opportunities appear daily that these workers must quickly master in order for businesses to stay competitive. But how? Competency frameworks have been used for some time to categorize, organize, and manage the […]
According to a recent study from CareerBuilder, skills gaps cost a company more than $800,000 per year. For clarity, the skills gap is commonly referred to as the frustrating rift between what candidates have to offer and what companies are looking for. This leads to perpetually-open jobs and frustrated candidates at a minimum, but it […]
The average millennial tenure is only two years. The average cost to replace is $24,000 not to mention the down time. With stats like these it’s important to have a proactive strategy to increase retention. Millennials are different kind of talent. They grew up with chat rooms and Twitter. Engaging and retaining Millennials is more important than […]
We’ve all been there New in a role with high performance expectations, limited time to make an impact, and with extremely limited knowledge about team capabilities – competencies and skills, strengths, weaknesses, track record, style, etc. In the past, when companies were centrally located, the task of gathering data on employees was much easier than […]
Performance feedback isn’t done frequently because it’s too painful and difficult. Most companies use annual or semi-annual reviews because the thought of doing that kind of process more once a year is too much to consider. The current process is difficult for the reviewer, the subject, and those involved in doing 360 ratings. It’s painful […]