In the 2019 Aon Global Risk Management Survey, the failure to attract and retain top talent remained in the top 15 of managerial concerns for the year ahead, as it has been since the inaugural survey in 2007.

It’s clear that organisations deem securing the right talent with appropriate skills as crucial to ongoing prosperity. However, how do these results fare in the APAC region and what can organisations do to help bridge the ever-growing skills gap?

Here John Young, APAC director at industrial automation parts supplier, EU Automation explains more.

Respondents to the Global Risk Management Survey from around the world said that issues of securing and retaining top talent were firmly in their top 15 of concerns.

In Asia Pacific (APAC), however, managers indicated these risks were a higher concern, positioning them at number ten in their list. As a new generation of graduates from across APAC find the world’s multinationals and fast-growing start-ups at their fingertips, competition is high among businesses to attract skilled staff.

Technology is the key

The increase of technology in our daily lives could be one of the secrets to regaining control of the skills gap in APAC.

There is an increasing need to encourage students to study science, technology, engineering and maths (STEM) as core subjects in higher education.

If students, regardless of their age, begin to associate the technologies they use on a daily basis with potential career opportunities, then there’s an increased likelihood that they might consider a STEM career pathway.

Many students don’t realise that a number of skills they develop socially can be transferable into a potential career.

These skills might stem from the use of problem-solving apps, the creativity of curating social media content, or using pocket-sized coding computers and simple HTML coding for websites.

The changing role

Furthermore, businesses must also be willing to adapt and develop their approach to hiring new, and loyal, talent. If a new employee sees the chance to grow in a role — and influence their future career, team or even the company as a whole — then the prospect should hopefully want to seize the opportunity.

Technology can also prove key to this development. With the integration of Industry 4.0, automated systems and software into a number of industrial sectors, more human tasks are being phased out by robotic counterparts.

An increasingly connected facility can help to relieve some of the strain felt by the growing skills-gap.

However, going forward, this doesn’t mean that businesses should consider robotic machinery as the sole focus of their workforce.

Technology like artificial intelligence (AI) and automation should expand the expertise of human employees, rather than replace it.

Typical human-led tasks might include analysing productivity or efficiency, or monitoring inventory management systems to ensure that maintenance plans are implemented with care and knowledge.

These responsibilities require actual insight — in other words, a human sensibility.

Yet it will be vital that this developed workforce arrives to the industry with the right soft skills — simply having a STEM background won’t necessarily cut it.

An inquisitive mind and a willingness to adapt their own practices alongside the changing technological developments will set them on the right path.

Employers responsibility

It is imperative that businesses play their part in shrinking the skills gap. Not paying skilled graduates a reasonable wage is one of the reasons many talented STEM graduates have been tempted overseas. On the other hand, a dedication to upskilling programmes has helped organisations retain key talent.

Furthermore, many businesses that attract skilled staff are no longer using rigid job descriptions or recruitment processes. Nowadays, it’s common for a person’s job to encompass numerous roles, rather than a strict job description.

Moving to an open approach, that seeks to hire the right person for the outcome rather than simply fulfilling a process, could help APAC organisations close the skills shortage.

It’s clear that the APAC region regards the need to attract and retain skilled talent as a top priority — alongside such challenges as dealing with economic slowdown, risks from cyber-attacks and increasing competition.

However, while many of these other risks are a result of external influencing factors, the onus to successfully bridge the skills gap sits firmly in the hands of employers, and employees, alike.