Asked by Michael Thamms on May 05, 2024

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A skills gap is a situation in which the supply of a particular form of human capital available to a firm is inadequate to address the demand.

Skills Gap

The difference between the skills required for a job and the skills possessed by the workforce.

Human Capital

The aggregate of talents, insights, and invisible resources owned by people that have the potential to generate economic profit for the workers, their employers, or the community they live in.

  • Determine the critical factors and hurdles associated with employee retention and the administration of human capital.
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MA
Megan AlexisMay 06, 2024
Final Answer :
True
Explanation :
A skills gap occurs when there is a mismatch between the skills that employers need and the skills that are available in the workforce. This can happen for a variety of reasons, including changes in technology or industry trends, a lack of emphasis on certain skills in the education system, or a shortage of workers in certain fields. The result is that employers may have difficulty finding qualified workers to fill open positions, which can limit their ability to grow and compete in the marketplace.