Using a talent gap analysis to address staffing issues
If you’re responsible for hiring, it’s vital that you know what staffing needs are on the horizon. Obviously, you don’t have a magic ball to let you know for sure what will happen, but a talent gap analysis can enable you to predict upcoming requirements and determine how best to address them.
Here’s what you need to know about talent gap analysis.
What a talent gap analysis is
Also known as a skills gap analysis, a talent gap analysis is a tool to identify current and projected skills (or talent) issues in your organization. An effective analysis will show you what skills to hire for and can identify where offering training and professional development for current staff will fit your needs.
Your analysis examines what your current competencies are compared with your preferred competencies, identifies the gap between them, and enables you to build a plan to fill that gap.
Why you need a talent gap analysis
A talent gap analysis can help you identify:
- How to prioritize your training/professional development budget
- When you need to hire new people
- What your long-term recruiting strategy should be
- Which skills your organization will need in the future
What you need to know
To conduct an effective gap analysis, you need to understand two levels of data: your organization’s needs and each staff member’s abilities.
For example, you need to know what your organization as a whole needs from its staff members. This requires you to understand the entire team as a whole, identify their skills, and review what competencies can be enhanced through training compared with which require you to hire someone new.
Additionally, it helps to know where you want your business to be in the future. If you want to open new offices, you’ll need to hire new employees. Have a timeline in place of how (or if) you want your practice to grow.
Do you want to offer new services? For example, if you offer individual counselling, do you want to offer relationship counselling? You may need to hire new employees or you may be able to train the staff you currently have to offer new services. Perhaps relationship counselling is an area one of your team members is interested in offering and has the training to do, for example.
Individually, you need to understand the various roles within your business, who sits in each role, and how competent they are to carry out their duties. You also need to know if they have any interest in building their skills. If you’re looking for certain skills that your staff is willing and interested in learning, this can be a great opportunity to retain and promote from within.
Addressing the talent gap
Typically, there are two main ways to address a talent gap: hire new staff or train existing staff. However, there is an additional option that can free up staff time: implementing technology. There are many apps and software solutions that enable seamless workflow processes and may mean you don’t need to focus as much on administrative skills when hiring.
AI can also enhance training programs, introducing an element of gamification into your practice and engaging your staff more. Meanwhile, implementing new technology can also take some of the strain off your staff.
At King Business Solutions, we understand the unique challenges businesses face in their accounting and bookkeeping. Contact us to schedule a free initial consultation for your practice. We help clients manage their finances and make informed decisions to grow their practices.