What Will It Take to Close the Skills Gap? Take an Educated Guess

One of the most pressing issues employers face today is the growing talent gap.

The skills gap can have a paralyzing effect on businesses and the broader economy. The pace of technological change is only exacerbating the problem. We’re seeing roles evolve rapidly, as they grow more complex and require additional training. CareerBuilder research has shown that 2 in 5 employers are now hiring people with college degrees for positions that were previously held by those with high school diplomas. Sixty-one percent of these employers attributed this to roles within their organizations now requiring more sophisticated skill sets.A recent nationwide study conducted by Harris Poll on behalf of my company, CareerBuilder, found that nearly 60 percent of U.S. employers have job openings that stay vacant for 12 weeks or longer. The average cost companies say they incur for having extended job vacancies is more than $800,000 annually.

During a recent panel discussion on bridging the skills gap, I had the opportunity to talk with Donna Shalala, former U.S. secretary of Health and Human Services and current president of the Clinton Foundation; Austan Goolsbee, a professor of economics at the University of Chicago who was the chief economist for President Barack Obama’s Economic Recovery Advisory Board; and Kevin Gilligan, CEO and chairman of Capella Education Co.

Click here to read Mark Ferguson’s complete interview published on the Workforce website. 

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