41% concerned about job security due to skill gaps

35% of employees lack confidence that they have the skills required to succeed in their roles, according to Skillsoft. Additionally, 41% expressed concerns about job security due to gaps in their skills.

Leadership skills rank highest for workplace success

Surveyed employees rated leadership skills as the most critical for success in today’s workplace, followed by soft skills (e.g. communication, emotional intelligence), technology skills, and AI/machine learning skills. Respondents also acknowledged that their manager views leadership skills as the most important competency for team members to have, but 31% said this is their greatest skill gap. 43% said the same about their AI/machine learning skills.

“This data highlights a significant issue: one-third of the workforce is questioning if they have the right skills to excel in their roles,” said Ciara Harrington, CPO, Skillsoft. “These skill gaps hold workers back from reaching their full potential and can hinder organizations in achieving their key business objectives. As workers face an increasingly complex set of responsibilities, ongoing change in the workplace, and disruption spurred by generative AI, it’s critical for organizations to proactively build their talent’s skills. A skilled, agile workforce is inherently more confident, capable, and productive.”

95% of surveyed employees said their organization has a talent development program in place, but only 25% find it to be highly effective, with a lack of time (42%), learning formats (30%), and leadership support (26%) as their main obstacles. To better achieve their skill-building goals, respondents are seeking a blended learning program comprising online, on-demand courses (39%), interactive and experiential opportunities (37%), and live, instructor-led training (37%) in particular.

“Effective learning programs take a blended, multimodal approach that goes beyond building skills and drives measurable improvements in job performance and behavioral change on a continuous basis,” continued Harrington. “By offering timely, high-quality learning content and interactive experiences that allow for hands-on practice of newly acquired skills, organizations can prepare their talent to leverage emerging technologies like GenAI, adapt swiftly to emerging regulations, and develop essential leadership skills.”

Organizations rate AI training as average or poor

75% believe there are gaps in the effectiveness of their organization’s talent development programs. To address these shortcomings, organizations are encouraged to adopt holistic and interactive learning solutions to empower talent and build crucial skills.

Despite the proliferation of GenAI tools, 62% of respondents said their organization’s AI training program is average to poor.

Only 28% believe the leadership skills training provided by their organization is “excellent.” Just 31% said the same about soft skills training. Respondents cited group training (33%), mentoring (32%), and coaching (30%) as key components of a strong learning program.

In an era where adaptability is key, a skills-based talent development program where competencies are directly linked to business objectives can enhance workforce agility, employee performance, and the bottom line.

82% of respondents said their organization is taking steps to transition to a skills-based model. The most common actions being taken are providing skill- and role-based learning paths (28%), performing skill gap analyses (16%), and implementing skills taxonomies (16%).

Many organizations are still in the early stages of this initiative, as only 19% of respondents say they receive regular skill assessments – a critical component of skills-based strategies.