How Corporations Are Overcoming The 'Skills Gap'

While the economy has gradually recovered from 2008’s massive recession, a new threat looms on the horizon for tech companies: the skills gap.

"When we talk to businesses, despite that unemployment rate, there still is a workforce skills gap," said Massachusetts Secretary of Labor and Workforce Development Ronald Walker. "There are issues trying to fill the middle-skilled jobs that these businesses need for distribution [and] execution."

General Electric, which recently began moving its headquarters to downtown Boston, is addressing the skills gap by reaching the youngest workforce available.

"We actually made a commitment with the United Nations at the World Youth Summit to say that we are actually committed to offering internships to 16- to 18-year-olds worldwide," said Kelli Wells, executive director of education at GE. "And I think it’s part of that exposure that students need to have."

"We have to create new pathways," said Daryl Graham, vice president of global philanthropy at JPMorgan Chase.

"We have to improve skills matching. Skills matching is a big part of this," he said.

But it doesn’t just come down to technological skills.

"We have to develop soft skills. We see kids now going to the table, they have their phones in front of them, they're not talking to people. They have their headphones on. We live in a digital age where that exists, but you still have to communicate with people. So those skills are needed in these environments," Graham said.