Skill Development in Organisations: Conceptual Framework and Operational Strategies

Purpose:This research aims to provide a conceptual framework that will help organisations address the skill shortages and gaps in their current business model. The study also aims to fulfil the literature gap by offering three strategies that can help firms across industries in the international arena to upskill and reskill their talent pool. Design/Methodology/Approach:Using real-world cases and statistics, the research offers a conceptual framework along with the three strategies, that is, revisiting skills requirements, continuous training and development, and partnership across ecosystems for addressing the critical challenge of skill gap and shortage that is prevailing across industries today. Findings:The findings of the research show that by involving employers, employees, and policymakers, an effective conceptual framework can be made that will help organisations to serve their target customers more effectively and efficiently. The study also results in the formation of three strategies to help the company address the talent shortage and gap in their organisation. Research Limitations/Implications:The research has wide implications for a variety of stakeholders and especially for the companies, employees, and policymakers. This will prove instrumental in handling the shortcoming of the talents prevailing in today’s business environment. Originality/Value:The study is unique in offering a framework and giving three operational strategies: revisiting skills requirements, continuous training and development, and partnership across ecosystems for building and managing the talent pool in the company.