Talent wars, changing strategies

Yet another global survey suggests employers are struggling with talent shortages and work models are changing to counter the problem.

A massive study of more than 37,000 employers in 42 countries and territories by The Herman Group says 36 percent of global employers are struggling to find candidates with the right skills to fill their open positions. This percentage is at its highest level since 2007. The findings confirm the ManpowerGroup’s Talent Shortage Survey published in our last issue of Management Today.

Japanese employers are experiencing the worst talent shortages (81 percent). However, Peru (67), India (64), Argentina (63), Brazil (63), and Turkey (63) are also facing serious shortages. Eleven countries reported shortages of more than 50 percent.

The hardest category to fill is "skilled trades". The global ranking from worst down engineers, Technicians, Sales Representatives, Accounting & Finance Staff, Management/Executives, Sales Managers, IT Staff, Office Support Staff, and Drivers.

More than 50 percent of global employers believe talent shortages are impacting their ability to meet client needs. And 40 percent say shortages reduce their competitiveness and productivity.

Some employers are moving to address the shortages by adopting "alternative people practices" including providing more training and development for existing staff and adopting non-traditional or new recruitment practices. One in four employers claim to be "exploring new talent sources".

A significant 23 percent of employers say they are implementing alternative work models. These include focussing more on their talent pipeline, redesigning current work procedures or integrating contingent workers into their workforce. However, more than 22 percent of employers that are facing talent shortages aren’t pursuing any other strategies to address their problem.

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