Milwaukee / Mumbai: Amid VUCA environment, talent shortage has become the talking point in the HR landscape. In India, 48% of employers admit difficulties filling jobs due to lack of available talent while forty percent of employers globally are experiencing difficulties filling roles. As per the latest Talent Shortage Survey 2016-17 , released yesterday (18 Oct 2016) by ManpowerGroup, the talent shortage level in 2016 is the highest level since 2007.
As skills needs change rapidly, employers are looking inside their organizations for solutions, with more than half choosing to develop and train their own people. This represents a significant jump from ManpowerGroup’s 2015 survey, when just 20% prioritized training and development to fill roles or find new skills. In the IT sector, businesses are reporting the most marked talent shortage in a number of years. IT roles jump from ninth to second place this year, the most marked demand for IT in a decade.
“Upskilling our global workforce is critical to ensure organizations have the skills they need to accelerate performance and everyone has access to the opportunities on offer,” said Jonas Prising, ManpowerGroup Chairman & CEO. “The best organizations know this, which is why we’ve seen a marked rise in the number of businesses focusing on training and development to fill talent gaps. We expect to see this number grow. That’s why we support companies and individuals to nurture learnability – the desire and ability to learn new skills to be employable for the long-term.”
In India, finding right IT professionals is most hardest jobs for hiring managers. The other to ten jobs where employers are facing difficulties are as followed: Accounting & Finance staff, Project Managers, Sales Managers, Customer Services Representative & Customer Support, Technicians, Quality Controllers, and Buying and Procurement staff.
Of the 42,300 employers surveyed globally, the hardest jobs to fill remain Skilled Trade Workers for the fifth consecutive year. Sales Representatives, Engineers, Technicians and Drivers all slip one ranking, 3rd – 6th respectively, and Office Support Staff drops two places to 10th. Production and Machine Operators also become harder roles to fill as they move from 10th to 9th when compared with 2015.
With 86% talent shortage, employers in Japan report the highest levels of difficulties in hiring while employers in China post the lowest levels of trouble in picking right talent (20% talent shortage). Employers in Taiwan (73), Romania (72%), Hong Kong (69%), Turkey (66%), Bulgaria (62%), and Hungary (57%) are facing the most difficulties while hiring right talents.
ManpowerGroup’s Talent Shortage Survey 2016 report mentioned that lack of available applicants and hard skills are the top reasons employers can fill the positions. Nearly one fourth employers globally attributed lack of available applicants/no applications is cause of difficulties in picking right candidates. Nearly one fifth employers globally admit that lack of hard skills/technical competencies is the major reason for growing talent shortage. Around 19% of surveyed employers say that lack of experience is the reason for talent shortage while 14% employers report candidates are looking for better pay than offered package.
In Asia Pacific almost half of Asian employers (46%) report hiring difficulties, with Japan, Taiwan and Hong Kong reporting the most challenges, down five percentage points year-over-year. Just 10% of Chinese employers report difficulty, the lowest of all countries surveyed, and a steep fall from the 24% reported in 2015. For the first time in 11 years of the Talent Shortage Survey employers are reporting the most difficulty filling IT Staff roles – up from 5 th position in 2015.
More than 42,300 employers in 43 countries and territories participated in ManpowerGroup’s eleventh annual Talent Shortage Survey. Forty percent of employers report difficulty filling jobs – the highest proportion since 2007.