WHAT IS THE SKILLED LABOUR GAP? HOW TO ELIMINATE THIS ISSUE?

WHAT IS THE SKILLED LABOUR GAP? HOW TO ELIMINATE THIS ISSUE?

The Skilled Labour Gap in Australia

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According to the Financial Review, Australia needs 280,000 skilled workers by 2025. The chief executive officer of the Tech Council of Australia has claimed that “Software Engineering is now a more common job than plumbing or hairdressing.”

This statement can be backed up by the fact that Australia is home to about 860,000 people working in the tech field. The projections estimate the figure to increase to 1 million by the year 2025 & reach approximately 1.2 million by 2030.

To ensure smooth growth of Australia’s Technological & Industrial sector – The skilled labour crisis must be overcome quickly. News reports suggest that New Zealand, the United Kingdom, & the United States are also facing labour market tightness. Compared to pre-pandemic observations, these figures denote a rather significant development.

skilled labour gap graph

One strategy through which governments fight a crisis like the skilled labour gap is to conduct skills shortages assessments. Various methodologies are adopted to assess skills shortages in different countries. NSC Australia’s recent Internet Vacancy Index findings & Skills Priority List assessment match various international findings.

For example: As per the National Skills Commission of Australia: 42% of Technician and Trade Occupations are presently in shortage, in contrast to 19% of all assessed professions found to be in shortage. According to a survey conducted by the UK in 2019, the most challenging occupation to fill vacancies was in the Skilled Trades group.

These observations were listed in NSC’s most recent Skills Priority List. You can read about these facts & figures in more detail here.

Another strategy to overcome labour shortage is including cutting-edge assisted reality solutions within your company for digital knowledge transfer and remote training. RealWear wearable devices are one of the most innovative and forward-thinking additions to the market that facilitate companies to retain skills and knowledge digitally.

How Can the Skilled Labor Gap Be Eliminated?

There are several ways to tackle the skilled labour gap. It requires an in-depth analysis to study the specific needs of every industry to come up with sustainable solutions. From management teams to recruitment policies & training systems – All orders of operations must be refined & brought up to date with the latest technological innovations. Here are some ways the skilled labour crisis can be resolved:

  1. Identify Overlooked Talent Pools
  2. Refocus Your Recruitment Mindset
  3. Initiate Knowledge Transfer Process

1. Identifying Overlooked Talent Pools: An intelligent way to manage the current skilled labour challenges is to tap into talent pools that are often overlooked – The nontraditional & diverse talent pools. These may include older workers, formerly incarcerated individuals, disabled individuals, global talent & veterans.

2. Refocus Your Recruitment Mindset: Hiring managers, recruiters & HR should focus on intangible qualities alongside a candidate’s skill set. Potential employees must also be given a chance to tell their story instead of a judgment solely based on paperwork.

3. Initiate Knowledge Transfer Process: Transferring knowledge is a significant part of retaining useful information within your company. If you have a silver workforce that is reaching retiring age, assisted-reality solutions, like RealWear HMT-1 and HMT-1Z1, can facilitate the process of knowledge transfer.

Eliminating Labour Shortage with the Latest AR Smart Glasses Technology

The skilled labour gap is a significant issue faced by industries across the globe. It must be resolved swiftly to ensure the sustainable growth of all industrial enterprises. The most thoughtful approach to tackle this crisis is incorporating the latest technology into employee training sessions.

Industry seniors should curate a system in conjunction with Augmented Reality, Assisted Reality & Artificial Intelligence. Hands-free solutions like Real Wear’s HMT-1 can play a crucial role by making knowledge transfer more effortless than ever before. It will also simplify your workflow & create remote work more efficient.

The RealWear HMT-1 is used to help eliminate the labour gap crisis through innovative training programs. Such remote mentor solutions can speed up the knowledge transfer process to ensure quicker training of employees. It will enable companies to equip new hires with extensive technical skills over a short period. This is a revolutionary innovation & a smart approach that can be cashed during the current skilled labour gap crisis. What makes it more elegant is the fact that it is a hands-free solution.

For more information & details, please feel free to reach out to us here.

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