Skills shortages impacting on business

Skills shortages impacting on business Skills shortages impacting on businessPosted October 13, 2011, by Josie Chun Skills shortages are posing real problems for businesses when it comes to production and service delivery and are set to intensify, according to a recent report from the Australian Industry Group (Ai Group). Some argue they are the number one future threat to economic growth. The greatest shortages are of metal fitters, machinists and engineers, for whom over 50 per cent of positions are unfilled. Shortages are also significant for other metal trades and business administration managers, for whom a third of vacancies remain unfilled. The difficulties in filling vacancies stem from a variety of causes businesses notlage being able to find applicants with the required specialised skills, applicants not possessing the necessary general skills (communication, team work, literacy and numeracy, and problem-solving skills), and lack of local training leading to a dearth of local people with the skills needed by industry in their area. For many positions, there are simply not enough applicants. How businesses are coping with skills shortages Over a third of businesses believe there is a high to extreme risk of skills shortages negatively impacting their business this year. This rises to almost half (47.5 per cent) when businesses project this risk to 2015. As a result, almost half of businesses have placed skills shortages as a high priority and are currently implementing strategies to deal with the issue. The strategies they are using include increasing house training, increasing their focus on apprentices, helping employees to multi-skill, improving skills utilisation by better aligning skills with work performed, and redesigning jobs around available skills. Outsourcing or sub-contracting work is also a popular strategy. Still, almost 13 per cent of companies are forced to limit production levels because of skilled staff shortages. One in ten co mpanies would like to recruit from overseas to help fill the shortfall, though this is a much less attractive option to those in the construction industry compared to the manufacturing and services sectors. ResourcesMy first resumeCover letter for my first jobCareer Insider StoriesShelley Lask - Body Positive Health & FitnessInterested in becoming a?Human Resources OfficerGeneral ManagerBusiness ManagerAccountantOffice Administrator CoursesBachelor of Social WorkEnquire Online Enquire OnlineCertificate III in Health AdministrationEnquire Online Enquire OnlineBachelor of Criminal JusticeEnquire Online Enquire OnlineCertificate III in Allied Health AssistanceEnquire Online Enquire OnlineJosie ChunRelated ArticlesBrowse moreEMPLOYER RESOURCESCapability Statement What is it & How to Write One?It can be difficult to understand all of the formal documents you need to get by in business. One of the big ones, especially if youre looking to do some governmental work, is the capability statem ent. Learn what it is and how you can best write one.Career progressionNew skillsMeet Lucy. She wants a promotion.This is Lucy. She wants to ask her boss for a promotion. Read more to find out what happens next.WORKFORCE TRENDSMinimum wage rise boon to workers, but not to businessesAustralias national minimum wage has risen by $26 a week, increasing from $544 to $569.90 per week, to come into effect July 1.