The skill gap analysis: what it is and how to use it

In order to be successful, companies need to have the right team in place with the necessary skills and qualifications. However, it is not always easy to determine at a glance whether that is the case. A skills gap analysis can help managers find skill gaps within the team and take steps to fill them. In this blog post, we will discuss what a skills gap analysis is and how companies can use it. We will also discuss how team augmentation is a good solution for teams that need additional competences, both in the short and long term.

What does a skill gap mean for a business?

A skill gap is the difference between the skills and qualifications that a team has and what they need in order to complete their tasks. This could mean that employees do not have enough knowledge or skill to perform certain tasks, or it could be that there are no team members with specific skill sets. For example, a company may need someone who is experienced in web development, but there are no team members with this skill.

The consequences of a skills gap can be serious, resulting in delays and reduced productivity. If skills gaps are not identified and addressed properly, they can lead to costly mistakes that could result in financial losses or reputational damage.

How to find out whether there is a skills gap in the team?

In order to identify skills gaps in the team, companies should conduct a skills gap analysis. This involves examining the qualifications and skill sets of existing team members and comparing them to the skills required for tasks or projects. The skills gap can then be determined by looking at which skill sets are missing from the team's current capabilities.

What is a skill gap analysis?

A skills gap analysis is a process that helps to identify skills gaps and propose solutions to fill them. It involves analyzing the skills and qualifications of each team member and comparing them with what is required for the tasks at hand. This can be done through interviews, surveys, or other methods of collecting employee skill information. By comparing what the team currently has to what is needed, a skills gap can be identified and its size determined.

How can companies use skill gap analysis?

Once a skills gap is identified, companies need to address it in order to ensure that tasks are completed efficiently and effectively. The skills gap analysis can be used to determine the skill sets that need to be filled, as well as what qualifications and experience are required for each skill set. The analysis can also be used to identify potential team members who could fill those skills gaps, either from within the company or externally.

When to conduct a skill gap analysis?

Ensuring that the company possesses all the skills and qualifications necessary to operate effectively can be a part of a regular evaluation, or it can happen as a response to a crisis or failure. It is also the logical next step in several situations:

• When a team member's responsibilities change significantly,
• After a poor performance review,
• After a promotion,
• When starting a new project,
• After it becomes clear that there are difficulties in meeting business goals,
• As part of a shift in strategy,
• When introducing new technologies to the team's toolkit.
• Skill gap analysis steb by step

When performing skills gap analysis, companies should follow a systematic process in order to ensure accuracy and consistency. This includes:

Identifying the hard and soft skills needed for the project or tasks at hand

Skills gap analyses can be conducted either at the level of a specific job, or for the entire team or company. In either case, the first step is to identify the skill shortages that are slowing or preventing success. It is also helpful to predict future skill gaps. While technical skills are often easier to define and identify, it is also important to pay attention to soft skills, such as critical thinking or leadership abilities.

Gathering data on team members’ skill sets and qualifications

There are many ways to measure the team's current skills, such as:

• Team member interviews (open-ended questions),
• Surveys,
• Assessments,
• Analysis of feedback from performance reviews,
• Analytics included in skills management software.

Identifying skill gaps and estimating the size of those gaps

During this step, it is often crucial to talk to the people who know the most about the potential missing skills. Sometimes, what looks like a big problem on paper might be only a matter of terminology. When estimating the size of a skills gap, the focus should be placed on the knowledge, experience, and capabilities required for each skill type.

Developing solutions for filling skill gaps

There are two major solutions for a skills gap: training and hiring. Training is the right approach when  skills gaps are small and the skill sets involved can be learned relatively easily. On the other hand, if the skills shortages are large, require a high level of skill, or need to be filled quickly, hiring might be the more practical option.

Although accessing top quality talent to fill skills gaps can be very challenging, there are many effective alternatives, such as team augmentation, body leasing or other staffing strategies. These solutions allow businesses to find skilled employees very quickly, allow for a high level of flexibility for changing team composition, and facilitate inter-team knowledge sharing as a long-term benefit.

How can team augmentation help solve skills gaps?

When skills gap analysis reveals that a team is missing certain qualifications or skill sets, team augmentation is a great solution. This involves bringing on board additional skill sets that are not currently present within the team. It can be done through body leasing or staffing services, which involve hiring professionals from outside the company with specific skill sets. Team augmentation can help bridge skills gaps quickly and effectively, filling them with the right skill sets and reducing the impact of skill gaps on productivity.

In conclusion, skills gap analysis can be an effective way to identify skill gaps in teams and address them quickly. Companies should use skills gap analysis to determine what skills are needed to complete tasks and then look at team augmentation as a potential solution for short and long term skill gaps. This type of analysis can help ensure that teams are equipped with the right skill sets, allowing them to work more efficiently and effectively. 

By taking advantage of skills gap analysis and team augmentation, companies can maximize their productivity by having a well-equipped team of professionals. With the right skill sets in place, companies can ensure that tasks are completed on time, with minimal risk and maximum efficiency.