Talent Shortages at Record High: 45% of employers say they can’t find the skills they need – the highest in 12 years. From manufacturing to mining, transport to trade, employers cannot find the people they need with the right blend of technical skills and human strengths.
● 45% of Employers Around the World Report Difficulty Filling Roles
● 27% of employers say applicants lack the hard or soft skills they are looking for
● Skilled trades – electricians, welders, mechanics, etc. – and sales representatives, engineers, drivers and technicians have ranked among the top five hardest roles to fill for the past ten years, which shows the problem isn’t going to fix itself.
VIETNAM (28 June 2018) – Employers around the world are facing the most acute talent shortage since 2006, according to the latest Talent Shortage Survey, released today by ManpowerGroup (NYSE: MAN). Of the almost 40,000 employers of 43 countries surveyed, 45% are struggling to fill roles, with skilled trades workers, sales representatives and engineers the most difficult to find. At the same time, organizations in 42 of the 43 countries that we survey are increasing headcount and many markets are nearing full-employment[YNH1] . Not surprisingly, talent shortages are at a record-high and growing.
Most of the top ten in-demand roles today require post-secondary training, not always a full university degree. They show that in the digital age employment will not always require a college degree, but will rely heavily on continual skills development as even the most traditional roles are augmented with new technology. Over half of surveyed employers investing in learning platforms and development tools to build their talent pipeline, increases 5% in 2016. Twice as many employers are investing in training their workforce (56%) compared to just [YNH2] 4 years ago, an indication that employers are increasingly investing in building tomorrow's talent, including creating a flexible working environment (time, working space, working style, etc.)
Companies are also trying to reach new talent pools and attract more people on the margins into the workforce – 33% are looking at different demographics, age ranges or geographies, looking at groups like retirees, returning parents and part-timers.
“We continue to see increasing demand for skilled workers across all sectors of the country economy from skilled trades to Manufacturing and IT,” said Simon Matthews - Country Manager ManpowerGroup Viet Nam, Thailand and the Middle East. "Employers cannot find the people they need with the right blend of technical skills and human strengths. It's time for a new approach to attract, recruit and retain talent. Employers need to buy skills where necessary, borrow from external sources and help people with adjacent skills bridge from one role to another. We need to value potential over performance. Above all, we need to be builders of talent, rather than consumers of work to create a workforce with the skills companies and individuals need to thrive today and tomorrow."
Solutions: Build, Buy, Borrow, Bridge:
· BUILD. Invest in learning and development to grow the talent pipeline and upskill the existing and potential workforce.
· BUY. In a tight labor market, go to the external market to find the best talent that cannot be built in-house in the timeframe required to fill immediate openings.
· BORROW. Cultivate communities of talent inside and outside the organization including part-time, freelance, contract and temporary workers to complement existing workforce.
· BRIDGE. Help people move on and move up to new roles inside or outside the organization.
For more details on the talent shortages around the world, including an interactive data explorer tool, visit www.manpowergroup.com/talentshortage.
ManpowerGroup (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. We develop innovative solutions for over 400,000 clients and connect 3+ million people to meaningful, sustainable work across a wide range of industries and skills. Our expert family of brands – Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions – creates substantially more value for candidates and clients across 80 countries and territories and has done so for 70 years. In 2018, ManpowerGroup was named one of the World's Most Ethical Companies for the eighth consecutive year and one of Fortune's Most Admired Companies, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup is powering the future of work: www.manpowergroup.com
For more information please contact:
Ms Nguyen Dinh Hoang Yen
Marketing & PR Manager
Tel: +84 28 3911 0950 (ext. 135)