Identifying team skills gaps: The value of competency assessments

70% of leaders say there are skills gaps present in their workforce, and 40% believe that these have worsened in the last year, according to The State of the Workforce Skills Gap Report from Springboard. From technological advancements and evolving working practices to ineffective training programmes, there are many potential causes for these disparities. So, how can you identify the skills gaps in your team, and why is it important to address them now?

What are skills gaps?

Skills gaps refer to the disparity between the skills your employees currently possess, and those needed to perform their jobs effectively or meet organisational goals. Whether it’s gaps in technical, hard skills or soft skills, it’s important that leaders identify them quickly and implement targeted development programmes to fill them.

How can competency assessments help address skills gaps?

Competency assessments help to highlight your team’s current capabilities and identify areas that need improvement. There are many ways to conduct a competency assessment for your team, including:

• Self-assessment tools
• Peer reviews
• Role-based evaluations

Leaders can then use the information gained from these assessments to build tailored development programmes that target the specific gaps visible in your team.

Why should your organisation use competency assessments?

As technology continues to advance at a rapid pace, the technical skills required to use it are evolving just as quickly. The Future of Work Report from McLean & Company found that 61% of leaders believe employee skill sets will need to change completely or almost completely by 2030. While the State of the Workforce Skills Gap Report found that more than 1 in 3 leaders say the current shelf life of hard skills is under two years.

Using competency assessments allows organisations to keep up to date with the skills gaps present in their teams, addressing these before they cause major issues. They have three main benefits.

Improves team and organisational performance

Competency assessments play a vital role in improving team and organisational performance, as they align employees’ skills with strategic goals, helping to drive productivity and innovation. By identifying skills gaps, organisations can target upskilling and reskilling efforts, enabling teams to adapt quickly to new technologies and market trends. Additionally, a clear understanding of individual and team competencies fosters stronger collaboration and boosts overall operational efficiency.

Delivers greater return on investment from training initiatives

By identifying specific skills gaps and focusing development efforts where they are needed most, organisations can maximise the return on investment from their training initiatives. This targeted approach minimises wasted resources on irrelevant training, ensures measurable performance improvements, and delivers greater business impact.

Increases employee retention and workforce planning

Using competency assessments can boost employee engagement and retention by demonstrating a commitment to individual development, fostering job satisfaction and loyalty. Simultaneously, they enhance workforce planning by identifying skills gaps and preparing employees to fill critical roles, ensuring the business is well-positioned to meet future challenges.

Address the skills gaps in your organisation with support from ILX

We offer our own competency assessment tool for project, programme and portfolio management professionals based on the APM Competence Framework. This tool assesses and highlights an individual’s development areas, before generating a tailored learning plan that details the relevant bitesize learning modules needed to bridge their gaps.

For more information about our competency assessment tool, and to discover how ILX can help you create a tailored development programme for your organisation visit the business solutions section on our website. You can also learn more about our 3CAT assessment tool and other consulting services.