Confronting sizable skills gaps, companies have stopped waiting for higher education to meet their rapidly shifting competitive needs.
Employers are confronting sizable skills gaps in all parts of their operations, at all levels, and they can’t seem to fill them by simply hiring new people. In today’s tight labor market, there are about 7 million open jobs for which companies are struggling to find qualified candidates because applicants routinely lack the digital and soft skills required to succeed. In the face of rapid technological changes like automation and artificial intelligence, helping employees keep pace is challenging. And companies are wrestling with how to retain top talent — a critical differentiator in a hypercompetitive environment. No wonder a staggering 77% of chief executives report that a scarcity of people with key skills is the biggest threat to their businesses, according to PwC’s 2017 CEO survey.
As a result, companies can no longer afford to wait for the traditional “system” to supply the workers they hope will help shape their future — the need is too acute and too urgent, particularly given that many higher-education institutions remain in denial. We must change how we educate both traditional college-age students and adult learners.