Our talent shortage will only get worse

The online survey explored what types of talent shortages are being experienced today, the consequence on business results, the types of employees in short supply and the future employment outlook. It received 360 responses covering the spectrum of industry segments, and mix of small, medium and large employers.

New Zealand employers report talent shortages are affecting business results today, and shortages are anticipated to intensify as the economy improves. Neither the global financial crisis nor recent economic softness have reduced the pace of globalisation, the ageing of the workforce, or advancing technology – all key influences on talent shortages in New Zealand.

These trends create new economic conditions that call for new talent strategies, but organisations may be relying on old tactics and outdated programmes, says Deloitte in its Talent Edge New Zealand Survey report. The following key observations emerged in Deloitte’s analysis of the results:

Talents problems are real. Employers should be doing more to analyse and predict  their future talent needs over the next two to three years, and what they can do to limit shortages and compete in an increasingly tight talent market.

It’s only going to get worse. Don’t delay addressing talent issues, even if they aren’t significant right now, because as the economy improves there will be increasing demand for key types of employees. At the same time, these valuable employees will be enticed by better opportunities elsewhere far more than in the past two years.

Employers need to spend more time understanding what their employees really want. Now is the time to reflect on your overall people strategy and make sure it is directly aligned with what your employees value and with your business objectives. Retention and engagement strategies are just as important as recruitment strategies.

When asked to indicate which types of employees are in short supply, the New Zealand employers surveyed identified these five categories as the most difficult to find:

• Managers and Professionals – 32%
• Information Technology, especially technical development professionals – 28%
• Sales and Marketing, especially sales representatives – 27%
• Accounting and Finance, especially Chartered Accountants – 27%
• Engineers – 19%

To read the full report go to www.deloitte.com

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