The Single Most Obvious Place You Might Not Have Thought to Look

It’s no myth: employers today are struggling to find enough people with the ‘right’ skills for the job. According to a recent Accenture survey, a stunning 46% of U.S. executives anticipate that over the next two years they won’t have the skilled labor they need.[1]

This skills shortage poses a real threat to many businesses – and yours may soon be one of them. Sixty-six percent of the executives surveyed by Accenture face losing business to the competition, and 64% will lose revenue thanks to the lack of skilled employees. More than half risk a serious drop in customer satisfaction, stalled innovation, and delays in development of new products and services.

Are you having a hard time finding people with the skills needed to innovate and grow your business? If so, there may be one obvious place you haven’t thought to look yet: inside your own company. Instead of spending time and money on recruiting new hires, consider making an investment in training the talent you already have.

More and more, smart companies are growing the valuable human capital they need through on-the-job training. Take a look at MGM Resorts International, for example. Through MGM University, the company provides skills training and professional development for over 66,000 employees, with affordable courses in areas ranging from operations and computer skills to leadership development, HR and finance. When you think about it, it is a win-win proposition. MGM can count on always having a pool of trained talent they need to staff their fifteen resorts worldwide. At the same time, they keep their employees happy and motivated by giving them the opportunity to invest in themselves, further their careers, and increase their earning potential.

MGM is just one of an increasing number of companies securing their future through robust in-house skills training. Whatever the size of your business, you can easily follow their example to ensure a productive, satisfied workforce – without having to look any further than your existing talent roster.

Why invest in on-the-job training?

1. It will save you time and money.

You’ll see these savings both in reduced turnover costs and less time spent recruiting. When human resources can pull from within the company to fill existing roles, it not only saves time spent on recruiting, but also money on flying and interviewing potential candidates. Plus, you save time and money on orientation and basic training when you fill new roles with people who already know the business from inside. And, finally, providing opportunities for ambitious employees to advance reduces your chance of losing them.

2. It builds loyalty and motivation.

On-the-job training and apprenticeships build loyalty, and you can’t put a price on that. When employees can see a clear path upwards in the company, it increases their commitment to the business. When people know they’re not in a ‘dead-end’ job, but rather one with opportunity for growth and development, it does wonders for job satisfaction and in turn, productivity and motivation.

3. It encourages a learning culture.

Business thrives in an atmosphere of open communication and knowledge-sharing. This comes at no extra charge when skills training is part of your business model. Even staffers who are not directly involved in training at the present time benefit from a work environment that encourages learning.

4. It ensures the future of your business.

With nearly half of U.S. executives today facing loss of revenue or a freeze in growth due to skills shortages, now is the time to take control of your company’s future. In today’s competitive global economy, developing human capital is the killer app for the future.

So whether you’re a manager, an HR professional, or the owner of your own business, if you’re struggling to find the right talent, the answer may be right in front of your eyes.

Photo: Getty Images

[1]Accenture. (2013). Accenture 2013 skills and employment trends survey: Perspectives on training [PDF].

That May be Keeping You From Your Perfect Job…And Why it’s NEVER Too Late to Follow Your Dream

Do any of the following ring true to you?

• You’re in a job that isn’t fulfilling and you can’t stop dreaming about doing something completely different.
• You’re just starting out in your professional life, having a hard time making the transition from school to work and are unsure of which direction to take.
• You’re in the field you want to be in, but can’t seem to get a promotion or find a way to move up the ladder.
• You’re feeling the bombardment of messages from family, friends and the media telling you ‘a desk job (like a manager or an accountant) is the only respectable way to make a living’ – the exact kind of job that bores you to tears.
• You think you need a college degree to be competitive in today’s job market, but you don’t learn well in a classroom, or don’t want to take on the burden of a big student loan.
• You’ve always dreamed of learning a trade and enjoying satisfaction that comes from making something with your own two hands – but don’t know where to look for the right program or teacher.

If you identify with one or more of these statements, I have some good news for you. No matter what stage of life or career you are in, it’s never too late to follow your dream.

For many people, these four common myths are the only thing standing in the way of a fulfilling a financially rewarding career:

• Myth #1: The are no jobs.
• Myth #2: Vocational training only leads to boring, low-status jobs.
• Myth #3: You can’t afford the education or training.
• Myth #4: It’s too late to too risky to change career directions.

Too many people put off pursuing what they really want in a career because they’ve fallen prey to these popular ideas. In many cases, the problem isn’t a lack of opportunity; it’s a lack of information about all the amazing opportunities that exist. But as I can tell you first hand, your dream job is probably out there waiting for you; all you have to do is choose the right path towards it. Here’s why:

Truth # 1. Take the U.S for example. There are over 3 million American jobs that need to be filled. We are currently experiencing what economist call a job-skills gap, which is simply a mismatch between the skills people possess and the skills employers actually need. This is why even though there are 13 million unemployed or underemployed people in the United States, 39% of employers still say they are having trouble filling jobs. These employers are desperate for skilled people – and willing to pay them well.

According to the Summer 2014 Occupational Outlook Quarterly published by the US Bureau of Labor Statistics, there are tens of thousands of job opportunities available in sales, mechanics, woodworking, customer service, manufacturing, and others – and many have median salaries up to $60,000 a year.

Truth # 2. These are not low-paying menial jobs. Vocational and practical skills training is not just for blue collar jobs. In fact, it can be the ticket to well-compensated careers in business and entrepreneurship, hospitality, aviation, health care, graphic design, mechanical engineering, information technology, and even artistic trades such as culinary arts or book restoration.

With increasing apprenticeship and skills-training opportunities available in a wide range of professional fields, it’s easier than ever for anyone in any walk of life to make a change and pursue a dream.

Take Alisha Doring, for example, who just landed her dream job with one of the largest employee-owned global consultancy firms in the world. Alisha had been working in retail and hoping for a promotion to management that never came, when she decided to apply for a business traineeship. After a series of interviews, Alisha was awarded the year-long, opportunity to ‘earn and learn’ and she could not be happier.

For Alisha, this opportunity isn’t just “good enough”- it’s exactly what she was hoping for. She’s now on the direct path to her dream career, and making money while she learns.

Truth # 3. Most of these opportunities don’t require a college degree. It’s no wonder that many people hesitate to pursue higher education when the cost of a four-year degree from a private college has tripled over the last three decades, and bachelor’s degree holders are graduating with an average of $23,000 in student debt. In contrast, skills certifications (awarded for 9-12 weeks of concentrated training in specialized fields) cost only a few thousand dollars, and the average cost of 2-year associates degree in the US is just $6,300 (compare that with the $120,000 one could easily pay for a 4-year degree at a private institution!).

And contrary to the popular belief that 4-year college is the best or only way to land a job in today’s economy, 61% of all jobs in the US right now do not require a college degree. Many of these are high-paying, respected, skilled jobs in mechanics, technology, electronics, manufacturing, and so on; all careers that can be built on skills certifications, associates degrees, or with on-the-job training and apprenticeships, with absolutely no need to invest in an expensive university education.

Truth # 4. It’s never too late. Anyone, at any stage in their career can pursue a skills-based education. I have seen this in action so many times. From young people like Alisha who have chosen apprenticeships over university, to working parents who increased their earnings exponentially by learning a trade, to successful professionals who quit the rat-race to start their own business, to retired adults who found the rewards of hands-on work in their golden years.

And contrary to popular belief, the benefits of changing direction at any time in your life greatly outweigh the risks. Skills are stackable credentials, and you can always keep acquiring new ones to move up or over in your chosen profession.

That’s exactly why today’s smartest companies are building opportunities for further education and training right into their business model.

And remember that vocational education isn’t a strait jacket; It can be a springboard to greater educational advancement. Just because you choose not to pursue the traditional college education now, doesn’t mean you can’t go back to school later in life, as I myself did.

In short, with more and more on-the-job training programs cropping up on-line and in companies across the nation, and more and more apprenticeships and community colleges partnering with employers in local job markets to “skill up” their work force, there’s never been a better time to seize these opportunities to follow your dream.

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We have all heard it before: “The best way to guarantee your career future is to go to a good college and get a degree.” The message has been drilled into our heads by guidance counselors, parents, teachers, and the media alike. While it’s true that certain jobs require a degree, you might be surprised to find that the almighty degree is not the first priority for many hiring managers.

So what’s the most overlooked resume item that recruiters and managers are really looking for?

Skills. Real-world, practical skills: like communication and interpersonal skills or the ability to solve problems, to complete projects and to stay organized. According to a 2013 study conducted jointly by Chegg, an online resource for students, and Harris Interactive, only 39% of managers felt that recent college graduates they’d interviewed were job-ready. Overwhelmingly, they reported that recent grads were lacking in practical skills such as time management, communication, problem-solving and organizational proficiencies.

Indeed, according to the Chegg study, which surveyed 2,000 students and 1,000 hiring managers in the US study real-world skills like these are the top priority in today’s job market. Moreover, the prestige associated with certain colleges also didn’t matter much at all according to the study. In fact, only 28% of managers said that it factored greatly into their decision. In other words, it’s the skills that matter, far more than the reputation of where they were acquired.

So how exactly do skills make you more hireable?

Trainability. Having vocational or practical skills behind you demonstrates your trainability; it shows potential employers that you are willing and able to learn. After all, every job is different, and hiring managers do not necessarily expect candidates to know all the ins and outs of the job from the word go. It’s often much more important to find people who know how to learn.

Pride. Vocational training not only builds skills, but pride in one’s work as well. As those who have every taken a shop class will remember, learning how to make something with your own hands delivers an unparalleled sense of pride that comes with seeing a project through from beginning to end; there is an incredible satisfaction in work that is not just some abstract idea, but a real and useable product. So how does this make you more hirable? Because this kind of confidence and pride translates to every aspect of your professional life. In my work helping put young people on the paths to the career of their dreams, I’ve seen time and again how the confidence gained through skills training boosts confidence, which increases people’s ability to perform well both in interviews and on the job.

Motivation and problem-solving. Having real-world skills shows potential employers that you are a self-starter; that you can commit to something and follow through with it. Regardless of what skill you took the time to learn or what job you are applying for, these qualities are gold on the job market.

Three practical ways to add skills to your resume:

1. If you want to boost your resume, the best thing to do is take a class. Sign up for a shop class, or a cooking class, or a course in introductory business or computer science or accounting. You don’t have to be enrolled in school to do this – in virtually every town or city in America you can find classes on all kinds of practical skills at local community centers, libraries, museums, or learning annexes (and many are offered in the evening to accommodate the schedules of 9 to 5ers). You could also try looking online on sites like Skillsshare.com, Craigslist, Meetup.com, or even post a query to your Facebook wall asking your local friends for leads.

2. Check out the certificate degree programs at your local community college. Nearly all community colleges offer certificates in areas like woodworking, business, accounting, automotive mechanics, sewing, culinary arts, and computer skills. You don’t have to commit to a two-year Associate’s Degree in order to take advantage of this. A certification program can take only a few hours of your time per week for as little as 6-12 weeks and the cost is very reasonable—usually tiny a fraction of the cost of classes at a four-year college or university.

3. Look into local opportunities for traineeships, internships and apprenticeships. In many towns and cities across the United States, schools and local businesses are teaming up to create on-the-job training opportunities. There just might be an opportunity right before your eyes to start an exciting career in information technology, health care, design, or business—and get paid while you learn. In the Chegg study mentioned above, a whopping 82% of hiring managers in a range of industries said they felt potential job candidates should have completed an internship in their field. Just goes to show that if you’re looking to land the job of your dreams, few things are as valuable as relevant, real-world experience.

Trust me, whether you’re looking for a job, vying for a promotion, or looking to transition into a new role or even entirely new career, having some type of vocational skills training behind you can be the one item that makes a big difference.

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The business of higher education is booming. More Americans are going to college now than ever before. But does this mean that more Americans are on the right road to a well-paying, rewarding career? Unfortunately, the research shows that a big investment in an expensive education does not necessarily equal a well-paying job. Instead, many college graduates remain unemployed or underemployed – with thousands of dollars in student debt to pay off.

At this point in time it’s hard to deny the fact that we’re facing a major student debt crisis. How much of a crisis? U.S. student loan debt has reached a record $1.2 trillion dollars, most of which is in federal loans. And not only are tens of millions of people currently saddled with mountains of outstanding student debt, default rates are at an all-time high; indeed, according to the most recent numbers, one in 10 borrowers default on their loans within the first two years of repayment. Worse yet, it’s not just the graduating students who are faced with massive debt, but in many cases parents are also taking on loans in a well-meaning effort to support their children’s futures.

So if a college degree, the one credential once thought be a guaranteed ticket to gainful employment, is leaving so many of today’s graduates high and dry, why do so many students of all ages persist in taking on massive debt for a degree that’s often not worth the sheepskin it’s printed on? Well, student loans are largely fueled by the misconception that a college degree will “buy you” a well-paying job — just as when purchasing any product or service. But the reality is that this is no longer the case. Why? The answer, quite simply, is that the needs of employers have changed, while so many aspects of the education system have remained essentially the same. What I mean by this is that sadly, too many colleges and universities are not equipping students with the technical, practical, or soft skills that companies are looking for.

Luckily, if you’re considering going to – or back to – school, whether for a bachelor’s, a masters, an MBA or some other form of advanced education, there are three things you can do to increase the chances that you’ll emerge highly and immediately employable, and not deep in the hole.

1) Do your research.

Although a 4-year college education may be the right option for some people at certain points in time, it’s important to let go of the “college for everyone” mentality that pervades our culture and consider if it’s your best option, now. Take a long hard look at the job or career you’re thinking of pursuing. Can the day-to-day skills required to do that position well be taught within the classroom walls?

Next, do the math. If you think college is the ticket to the career you want, it pays to research what your earning potential will be in those first few years at your chosen job. Will that exceed the total amount you’re about to spend on your 4-education?

When you buy a car, you know exactly how much debt you’re incurring – the loan terms are defined in the contract. But with college, all kinds of extra costs (including computers, books and supplies) pile up over the years — so make sure to factor those in when calculating the debt you are building.

In short, do your homework.

2) Never take an unpaid internship.

This amounts to paying while you work rather than being paid to work. Put that way, does it sound like a smart option? Many college students take unpaid internships to gain practical experience or to bolster their resume, but most complete them in the hopes that making an inroad at a company will help them land a paying job at that organization after college. Not so. In fact, only a tiny percentage of unpaid interns end up getting offered a permanent paid position at the place they interned (and an unpaid internship doesn’t even look all that impressive on a resume anymore now that everyone is doing them).

Instead:

3) Earn as you learn.

Apprenticing is one excellent way to avoid a mountain of debt and go to work doing something rewarding, valuable, and profitable, right away. A growing number of informed young people are choosing this debt-free path. In my work, I constantly encounter success stories of people who learned a marketable skill under the supervision of a skilled expert – while earning a steady paycheck.

An apprenticeship can set you on a trajectory to success. It can be the launchpad for a successful, rewarding career, giving young people the opportunity to learn the soft skills that they need to land and, most importantly, keep a job. An apprenticeship teaches young people values and life-lessons that a traditional classroom simply cannot. Not only that, once complete, the majority of apprentices remain gainfully employed with the same company long-term, and end up fast-tracked for promotion because they know the business inside-out. Apprenticeships, and the on-the-job training opportunities that define them, give young people a huge advantage in any job market – without the mountains of student debt.

When it comes down to it, it’s simple: getting a real job in the real world isn’t just about school; it’s about real world skills.

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