Hashtag

New study – Soft skills essential yet many business lagging behind



A new study by The Australian Institute of Management (AIM) has identified soft skills as essential in the Australian workforce, yet businesses are failing to invest in their own employees.


According to the ‘AIM Soft Skills Survey 2019’, 9 out of 10 Australian leaders perceive soft skills as critical when hiring new talent and 80.5 per cent of Australian business leaders believe soft skill development is very or extremely important.

 

However, the survey also highlights that despite 51.9 per cent of Australian businesses allocating more than $1,000 per employee on a total learning and development budget, in 2019 it is predicted that 43.6 per cent will invest less than $500 per employee in soft skills training.

 

CEO of AIM, Ben Foote said; “The AIM survey results highlight that Australian leaders understand the need for soft skills, yet many are not willing to invest in their own employees to help further their soft skills.”

 

In the survey, the top three skills employers were able to identify to be the most important soft skills are:

  • Communication – 75.6 per cent of responders
  • Leadership – 55 per cent of responders
  • Emotional intelligence – 52.2 per cent of responders

 

“Communication, Leadership, and Emotional Intelligence are the key to an organisations growth and are the soft skills that will help businesses be more competitive, to grow and to create a positive internal culture,” said Mr Foote.

 

“In the age of digital disruption, automation, machine learning and artificial intelligence, the technical skills learnt one day can be obsolete the next. To thrive in a rapidly shifting landscape, organisations have no choice but to prepare their workforce for what the World Economic Forum has described as the Fourth Industrial Revolution.”

 

In the survey, only 5.3 per cent of Australian leaders feel very well equipped to assess soft skills, yet subjective assessment is overwhelmingly used when hiring with 96.1 per cent using interviews and 71.4 per cent using references.

 

“To create an innovative and agile workforce, leaders need to be better equipped to identify the necessary soft skills needed so they know where the investment in training should be made,” said Mr Foote.

According to Mr Foote, all employees in the organisation need to increase their soft skills to keep the business competitive.

“All employees at every level, will need to learn complex problem solving, people management, collaboration and resilience to navigate the constantly changing business world,” said Mr Foote.

The AIM Soft Skills Survey was completed by 360 Australian leaders (182 HR leaders and 178 Non-HR Leaders and was conducted by AIM in September/October 2018.

Business News

Visas for Temporary Skilled Shortage Strengthen the Global Workforce

Background of Temporary Skilled Shortage Visa The Temporary Skilled Shortage Visa is one of the most popular and widely used visas in Australia. It is designed to help employers fill skill shorta...

NewsServices.com - avatar NewsServices.com

Achieve Success in the Petrol Station Sales Market

A petrol station, also known as a gas station, is a facility that sells automotive fuel and lubricants to motorists. It typically consists of pumps for gasoline or diesel fuel, an attached convenien...

NewsServices.com - avatar NewsServices.com

Maximize Your Return on Investment with Google AdWords Management Services

Google AdWords Management Services are the perfect solution for businesses looking to take their digital marketing to the next level. With the help of a professional AdWords management team, busines...

NewsServices.com - avatar NewsServices.com

The Small Business Concessions are Designed for Small Business Owners

Definition of Small Business Concessions Small business concessions are government-provided benefits designed to help small businesses succeed. These benefits can include tax relief, government gra...

NewsServices.com - avatar NewsServices.com

The perfect setup: key considerations when choosing industrial shelving

Factory and warehousing companies across Australia understand the benefits of industrial shelving. Easy-to-install and highly modular, intricate and incredibly versatile, long span, mini span, pal...

NewsServices.com - avatar NewsServices.com

Harness the Power of an SEO Agency for Increased Visibility

What is an SEO Agency? An SEO agency is a business that specializes in search engine optimization (SEO). They work to improve a website’s visibility in the natural or organic search engine result...

NewsServices.com - avatar NewsServices.com

Health & Wellness

Learn About the Magic of Cosmetic Dentistry

NewsServices.com - avatar NewsServices.com

Benefits of Cosmetic Dental Services Cosmetic dentistry has been gaining in popularity over the past few years, and for good reason. Cosmetic dental services can provide a variety of benefits that ...

The Power of Physiotherapy in Injury Treatment

NewsServices.com - avatar NewsServices.com

Physiotherapy, also known as physical therapy, is a health profession that focuses on improving the quality of life by assisting patients in restoring and maintaining their natural movement. Through...

The Costs Associated with Gastric Band Surgery

Hashtag.net.au - avatar Hashtag.net.au

Overview of Gastric Band Surgery Gastric band surgery is a procedure that helps individuals achieve weight loss by reducing the size of the stomach. It is an adjustable gastric banding system, comm...

The Best Guide to Learn More About Dental Implants

NewsServices.com - avatar NewsServices.com

Are you interested in finding out more about dental implants? In that case, you've found the proper site! We're here to give you the greatest information on dental implants so you can comprehend the...



NewsServices.com

Content & Technology Connecting Global Audiences

More Information - Less Opinion