Talent gaps – when they occur – are major issues in any organization. When businesses face this problem, companies suffer as a whole. Processes will slow down, and a company’s overall efficiency and productivity will go down along with it.
Companies facing talent gaps in their ranks will struggle to stay competitive and consistently meet production demands. Businesses facing this workplace problem usually have two choices: invest in employee training or source the right talents elsewhere.
With the latter choice, companies can access talent from reliable offshoring firms like ConnectOS.
But is offshoring the right choice to help businesses redress talent gaps? Read on to find out.
What are talent gaps?
Talent gaps are the space between the levels your company needs regarding talent, skills, or competencies and what your employees currently have. In short, it is the distance between your employees’ current skills and where you need those skills to be.
Companies commonly experience talent gaps in more technical roles (e.g., software development or engineering) where they struggle to find qualified candidates.
Talent gaps are especially prevalent in technology companies, as businesses in tech industries tend to have high turnover rates and rapid growth.
But even organizations that don’t specialize in technology can experience talent shortages if they’re not keeping up with their industry’s demand for skilled workers.
Why talent gaps occur
Talent gaps can occur at any stage of an employee’s career, from early recruitment and onboarding to training programs and promotion opportunities.
They can also be unintended consequences of swift advances in technology. When technology changes too quickly, it becomes challenging for employees to keep up – especially if they’re not actively trying to.
Here are some reasons companies may experience talent gaps:
Ineffective hiring processes
When businesses don’t have rigorous recruitment processes in place, they can end up hiring just about anyone with the barest minimum qualifications.
While speed hiring does have its advantages, it can lead to bad hires, and companies end up with either incompetent employees or high turnover rates.
High turnover rate
A high turnover rate results in a loss of talent in businesses. When employees leave or are terminated just as quickly as they are hired, they cannot grow into their roles and develop the needed skills.
Constantly losing employees due to high attrition rates can leave companies unable to fill vacant positions. This would result in not only talent gaps but also a loss of productivity.
Lack of investment in employee training
Talent gaps can occur when companies neglect to upskill their employees. Failing to invest in upskilling programs for employees can result in a skills plateau across the organization.
Consequently, the plateauing skills of a company’s workforce can hamper its effectiveness and competitiveness compared to firms that invest in employee development.
How offshoring can help your company overcome talent gaps
Resorting to offshoring solutions is one of the most cost-effective ways for businesses to address talent gaps.
Below are just a few ways offshoring can help you close the talent gaps in your company.
Offshoring lets you hire top talents
BPO companies often employ top talents from various industries in the countries where they operate. Whether you’re looking for veteran software developers or seasoned customer service specialists, offshore BPO firms have you covered.
BPO companies can hire and retain the best talents due to various reasons, such as:
- Offering competitive salaries
- Having employees undergo constant training
- Providing attractive compensation and benefits packages
Offshoring gives you instant expertise
BPO firms employ some of the best talents in their countries of operation, which means you get access to highly skilled specialists through your partner BPO.
Offshoring gives you access to a larger labor market
One of the reasons why your business may be suffering from talent gaps is the shortage of skilled workers in your locality. This problem can be easily overcome by turning to offshore BPO providers.
Through offshoring, you can hire specialists from halfway across the world.
Partner with ConnectOS for your offshoring needs
ConnectOS is one of the Philippines’ leading providers of offshore talents. Its team helps clients identify roles better suited to remote talents and helps these clients save up to 70% on salary.
The company’s vast talent pool of candidates has passed ConnectOS’s thorough recruitment process. This ensures that the talents clients offshore from ConnectOS are university-educated, highly skilled, and fully trained for their roles.
Connect with ConnectOS now!