The results in the new annual Talent Shortage Survey from ManpowerGroup
are aligned with our recent forecasts: global employers continue to
struggle with talent shortages.
 
This massive study of more than
37,000 employers in 42 countries and territories found that 36 percent
of global employers are having difficulty finding candidates with the
right skills to fill their open positions. This percentage is at its
highest level since 2007.
 
Globally, employers in Japan have the
worst talent shortages (81 percent). However, significant shortages also
were reported in Peru (67), India (64), Argentina (63), Brazil (63) and
Turkey (63). In fact, 11 countries had shortages of more than 50
percent.
 
In both the United States and elsewhere, the hardest
category to fill is "Skilled Trades," according to the survey. Globally,
the order is 2) Engineers, 3) Technicians, 4) Sales Representatives, 5)
Accounting & Finance Staff, 6) Management /Executives, 7) Sales
Managers, 8) IT Staff, 9) Office Support Staff and 10) Drivers.
 
In
the U.S., not only are there different categories, but they are in a
different order: 2) Restaurant & Hotel Staff, 3) Sales
Representatives, 4) Teachers, 5) Drivers, 6) Accounting & Finance
Staff, 7) Laborers, 8) IT Staff, 9) Engineers and 10) Nurses.
Domestically, the surprise for us is that more categories are not in
healthcare.
 
Additional key findings serve to provide additional
evidence: more than 50 percent of global employers reporting talent
shortages said those shortages had a significant impact on their ability
to meet client needs. Moreover, 40 percent said that shortages reduce
their competitiveness/productivity.
 
The good news is that some
employers are taking steps to address these shortages. Almost half of
them who are addressing talent shortages are doing so through
"alternative people practices." Manpower defines alternative people
practices to be training and development for existing staff and
utilizing non-traditional or new recruitment practices. In addition,
this study found that one in four employers are "exploring new talent
sources."
 
Employers are taking other steps as well: 23 percent
are implementing alternative work models. These alternative models
include increasing the focus on their talent pipeline, redesigning
current work procedures, or integrating contingent workers. Furthermore,
more than one in five (22 percent) of employers who are experiencing
talent shortages are not presently pursuing strategies to address such
shortages. That is a big mistake.
 
What these results mean to employers is that now and moving into the future, it will be imperative for them to become "Employers of Choice" if they want to attract top talent and optimize their profitability.