Reduced productivity: When employees lack the necessary skills to perform their jobs effectively, it can result in lower productivity, longer turnaround times, and increased error rates.
Increased costs: The cost of recruiting and training new employees to fill skills gaps can be high. Additionally, mistakes made by unskilled workers can lead to costly rework and even legal liabilities.
Decreased morale: When employees feel like they don't have the skills to do their jobs well, it can lead to feelings of frustration, stress, and even burnout.
Decreased competitiveness: Companies that can't keep up with the latest industry trends and technologies due to a skills gap may lose out to competitors who are more up-to-date.