According to the findings, 35% of participants felt uncertain about having the necessary skills to excel in their roles. Moreover, 41% were worried about their job security due to these skill deficiencies.

When it came to skill prioritisation, employees placed leadership at the top of the list as the most vital for success in the modern workplace. This was followed by soft skills, such as communication and emotional intelligence, technology-related abilities, and AI/machine learning expertise. Interestingly, respondents noted that their managers also viewed leadership skills as the most essential quality for team members. However, 31% admitted that leadership was their most significant skill gap, and over 43% identified AI and machine learning as areas where they felt the least competent.

"This data highlights a significant issue: one-third of the workforce is questioning if they have the right skills to excel in their roles," said Ciara Harrington, Chief People Officer, Skillsoft. "These skill gaps hold workers back from reaching their full potential and can hinder organisations in achieving their key business objectives. As workers face an increasingly complex set of responsibilities, ongoing change in the workplace, and disruption spurred by generative AI, it’s critical for organisations to proactively build their talent’s skills. A skilled, agile workforce is inherently more confident, capable, and productive."

95% of surveyed employees said their organisation has a talent development programme in place, but only 25% find it to be highly effective, with a lack of time (42%), learning formats (30%), and leadership support (26%) as their main obstacles. To better achieve their skill-building goals, respondents are seeking a blended learning program comprising online, on-demand courses (39%), interactive and experiential opportunities (37%), and live, instructor-led training (37%) in particular.

"Effective learning programs take a blended, multimodal approach that goes beyond building skills and drives measurable improvements in job performance and behavioural change on a continuous basis," continued Harrington. "By offering timely, high-quality learning content and interactive experiences that allow for hands-on practice of newly acquired skills, organisations can prepare their talent to leverage emerging technologies like GenAI, adapt swiftly to emerging regulations, and develop essential leadership skills.”

Developing in-demand skills requires a fresh perspective on talent development. The study found that nearly 75% of participants believed their organisations had room for improvement in their talent development programmes. To bridge these gaps, a shift towards holistic and interactive learning methods was recommended to empower employees and enhance essential skills.

• Despite the increasing presence of Generative AI tools in the workplace, 62% of respondents rated their organisation's AI training as merely average or poor
• Only 28% considered their leadership skills training as "excellent," while just 31% felt the same about their soft skills training
• The respondents highlighted group training (33%), mentoring (32%), and coaching (30%) as crucial elements of an effective learning programme. Platforms like Skillsoft CAISY were noted for offering interactive coaching experiences that aid in developing leadership skills

Many organisations are in the initial phases of adopting a skills-based approach. In today's rapidly changing environment, programmes that link employee competencies directly to business objectives can significantly improve workforce agility and performance, positively impacting the bottom line.

• 82% of respondents reported that their organisations were taking steps towards a skills-based model
• The most common initiatives included providing skill- and role-based learning paths (28%), conducting skill gap analyses (16%), and implementing a skills taxonomy (16%)
• However, these efforts are still in their infancy, with only 19% of respondents receiving regular skill assessments, a crucial aspect of a skills-based strategy