Manpower Group’s annual Talent Shortage Survey shows that 36% of employers worldwide are reporting talent shortages in 2014 – this is the highest level in seven years. Globally, Japan reports the most dire news, with more than 80% of employers saying they are having difficulty filling open jobs. Significant talent shortages are reported throughout Latin America, with 67% of Peruvian employers indicating talent shortages.
Other survey highlights include:
The global talent shortage is impacting employers in almost every part of the world. The five countries reporting the most difficulty filling open jobs are:
- Japan – 81%
- Peru – 67%
- India – 64%
- Argentina – 63%
- Brazil – 63%
Other notable countries above the average (36%) are:
- New Zealand – 59%
- Australia – 41%
- USA – 40%
Interestingly, Spain (3%) and Ireland (2%) are reporting little difficulty filling open jobs, despite being among the hardest-hit areas of the Eurozone recession. These two countries have also suffered from sustained weak job markets.
Once again, the worst shortages exist in the skilled trades. Engineers are the second-hardest candidates to find. Among the remaining top ten hardest-to-fill jobs are accounting & finance professionals as well as IT staff.
Over half of all employers participating in the global talent shortage survey indicate that the talent shortage is impacting their business. Negative impacts include a reduced ability to serve customers, reduction in competitiveness, lower productivity, and reduced employee engagement.
The survey also asked employers to indicate steps they are taking to combat the pervasive global talent shortage. Fewer than half have implemented strategies such as providing additional training or development. Only 25% of respondents have started to change their hiring process to include candidates who may not currently have the exact technical skills, but DO have the potential to learn and grow.
The Manpower survey puts the onus on human resource professionals to adopt three new critical roles in order to help companies develop a flexible and agile workforce. These new roles are:
Supply-and-Demand Experts: Understanding how the demand for their companies’ products and services impacts the demand for talent.
Marketers: Developing branding, messaging, and corporate image to focus on attracting and retaining talent, much as traditional marketing efforts have helped position a company’s products and services.
Designers: Adopting a focus on the outcomes of work as opposed to the traditional focus on jobs.
