30 Aug 2022

Autor: Luxe Talent Team
30 Aug. 2022

The labour market presents a particular paradox. 

80% of companies report difficulties in filling certain profiles.

Professionals have rearranged their priorities, some industries pay very low salaries and workers have decided to escape from precarious situations. But there are many other factors at play, especially training.

In this Luxe Talent blog we tell you how to bridge the gap between professionals and companies.

The keys to tackling the mismatch between offer and demand: training

Keys to tackling the supply-demand mismatch | blog | luxe talent

Current situation

Not in all industries professionals are fleeing, in the vast majority there is a mismatch between the skills required by organisations and the current qualification of the talent. In other words, the problem does not originate in a lack of personnel, but in a lack of training and retraining. 

In particular, there is a lack of young talent in craft professions and a lack of highly qualified profiles in services.

If there is a lack of talent in your company, and you are offering the right conditions, the problem is not the salary but the lack of training.

The European government, aware of the lack of educational options, foresees a large number of new places and public educational options and presents new measures to improve access to universities. But the educational curriculum remains unchanged, i.e. there is no solution proposed that fits in with the reality of companies.

Without training there will be no transformation.

This is why ad-hoc training adapted to the needs of each organisation is key. Sometimes, in Luxe Talent's consultancy services, after an exhaustive research, we have to communicate to companies that the market cannot provide them with the profile they are looking for. Therefore, it is time to create tailor-made trainings that guarantee the necessary skills for their team.

Future forecasts

Currently, and according to 'The EU Blue Economy Report 2021' report by the European Commission, the most established sectors employ 4.5 million people directly and the figure is expected to double by 2030, mostly aimed at senior profiles, prioritizing highly qualified positions.

Despite the expected increase in vacancies, this does not mean that the necessary assets are available to fill them. There is an imbalance between the skill levels of the active population and the present and future needs of our labour market. Senior profiles, despite being the most in demand, will not be able to use their competitive advantage without upgrading their education.

Studies show a high level of interest in profiles that enable the expected digital and ecological transformation. As well as a growing commitment to enhance soft-skills and highly flexible and adaptive profiles.

Brands need to invest in training, re-qualification and lifelong learning ('skilling', 'reskilling' and 'upskilling'); as only they, as companies, are the ones who truly understand their needs.

New models of training and information organisation systems must be used in order to truly enhance the talent of human capital.

Training, the more specific the better 

The present and the future require highly specialised and very adaptable professionals. Therefore, the more specific your training is and the more it is adapted to the needs of your industry.

At Luxe Talent, we have decades of experience in the Retail, Fashion and Luxury industry. At Retail Academy, we offer training for both professionals and companies. 

Enhance your soft-skills in training specific to your industry and/or the sector in which your dream job is located. 

Keys to tackling the supply-demand mismatch | blog | luxe talent

Did you know that every day, you waste training resources that are available to you? 

There is a wide European range of training grants, job placement programmes, training subsidies for the younger and older generations... If you want to know more, contact Retail Academy, and we will help you to manage your training.

If you operate in the Spanish market, visit our blog, where we tell you how to subsidize your training through public entities.

In conclusion, we can say that the main challenge to have the right talent in your teams is the use and implementation of appropriate training. The market is not always able to offer us the profile we are looking for, so it is important that as a company we know what our needs are. Create your own profile through training, empower and retain your talent. 

Visit the Retail Academy, Luxe Talent's training centre.

We help teams to carry out their transformation with tailor-made training plans. We empower talent through the facilitation of useful, practical and experiential learning. 

If you want more tips, follow us on our social networks: LUXE TALENT on Instagram, LUXE TALENT on LinkedIn, or in our academy RETAIL ACADEMY on Instagram, RETAIL ACADEMY on LinkedIn.