A key insight was that the risk the skills shortage posed to the delivery of business objectives was now so critical that it should be given appropriate strategic priority at the boardroom level rather than being considered just an ‘HR problem’. Mitigating action needs to be proactive, not reactive.
There can be no better way to demonstrate why the skills crisis requires the attention it deserves at the top table than to put a number on the potential commercial impact of the shortages.
Without data, organisational skills gaps are not quantified and the commercial impact goes unreported. The Board is consequently unaware of the scale of the risk, leading to spiralling skills gaps across the organisation.
In this paper, we fill this data vacuum with a financial model that quantifies the cost of the skills gaps identified in an organisation, enabling action and accountability.
Combining Ennis & Co’s experience and understanding of the automotive and mobility talent market with industry knowledge and expertise in financial modeling and analysis, we assess the financial upside of investing in upskilling and recruitment, and the economic downside of doing nothing.
