Talent Shortages in The Time of High Unemployment
48% of Indian employers struggle to find the right candidate
ManpowerGroup survey reveals persistent shortage in skilled trades, engineers, IT
Nearly Half of U.S. Employers Struggling to Fill Mission-Critical Positions
This is the story of the day. Those who thinks there are no opportunities they have to think twice before saying this. There are opportunities and more than enough opportunities for RIGHT KIND OF SKILLS. The right kind of skills are changing very fast. With changing time and economies one cannot think of getting good job with 20th century skills and qualification. These skills and qualifications needs to be upgraded to fulfill the needs of 21st century economy and needs.
In January 2011, at the World Economic Forum Annual Meeting in Davos, Switzerland, ManpowerGroup announced the world has entered the Human Age, where talent has replaced capital as the key competitive differentiator. This concept of talentism as the new capitalism continues to resonate and was echoed as a core theme of the 2012 Annual Meeting of the World Economic Forum in Davos.
The battle for the right candidate continues to rage as 48% of Indian employers struggle to find the right candidate for the job. A study on Talent Shortage by staffing firm Manpower Group shows that although down by 19% from last year, India's hunt for suitable employees is high compared to global average of 34%.
The profiles on demand have also altered since same period last year. While it was difficult to hunt for R&D, sales manager and IT staff last year, this year the positions are for IT staff, marketing/public relations/communication staff and engineers. Personal assistants, call center operators, researchers are also hard to find this year
Lack of available candidates, technical competencies amongst those present, refusals to move to another location, poor image of the occupation, weak soft skills and demand for a higher salary have been key reasons in Asia Pacific for the posts to remain vacant. Owing to high growth in the IT sector and increase in the social media presence of organizations, there has been a surge in the demand for IT staff and marketing/communications staff. Access to talent is the key competitive differentiator in the Human Age, and the companies that succeed in this new ecosystem will be those that employ a comprehensive workforce strategy closely aligned with business strategy.
The world leader in innovative workforce solutions, warns employers, who are increasingly at peace with failing to find the right talent to fight the perception that specialized in-demand talent is out of reach and develop flexible workforce models comprised of contingent and permanent workers, in order to meet fluctuating demand for their products and services.
ManpowerGroup's 2012 Talent Shortage Survey, released along with the accompanying insights paper, "Break the Crisis and Complacency Cycle, Get Ahead of the Global Talent Shortage," shows the world is for the seventh year in a row gripped by an acute talent mismatch, as over a third (34%) of employers globally identify a lack of available skilled talent to their organizations. Despite this, a substantial proportion of employers indicate unfilled positions are expected to have little or no impact on key constituents, such as customers and investors; this proportion has grown from 36% in 2011 to 56% in 2012.
"Break the Crisis and Complacency Cycle, Get Ahead of the Global Talent Shortage," details specialized solutions ManpowerGroup has identified for winning today's talent wars, including: developing a workforce strategy, strategic migration, developing flexible work models, hyper specializing work among specialized workers, exploring untapped talent markets and expanding tapped talent markets.
The results of its seventh annual talent shortage survey, revealing 49 percent of U.S. employers are experiencing difficulty filling mission-critical positions within their organizations.
In the United States, the top 10 most difficult jobs to fill are:
Accounting and finance staff
Summary of Global Results ManpowerGroup surveyed nearly 40,000 employers across 41 countries and territories as part of its annual Talent Shortage Survey. Globally, 34 percent of employers say they are having difficulty filling positions, the three most challenging of which are Skilled Trades, Engineers and Sales Representatives. The reasons most often cited are lack of available applicants and lack of technical skills. Among the 41 countries and territories surveyed, employers are having the most difficulty finding the right people to fill jobs in Japan (81 percent), Brazil (71 percent) and Bulgaria (51 percent).