2012 Talent Shortage Survey

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Results of ManpowerGroup\'s 2012 Talent Shortage Survey, and insights into the what the results mean for employers.

Transcript of 2012 Talent Shortage Survey

  • 1. 2012TALENT SHORTAGESURVEY RESEARCH RESULTS
  • 2. EXECUTIVE SUMMARYDespite the continuing caution exercised by many developing candidates with potential becomes theorganizations amid ongoing economic uncertainty, a norm rather than the exception.substantial proportion of employers around the globe The Talent Shortage research results for 2012 areidentify a lack of available skilled talent as a continuing similar in many ways to the 2011 results. However,drag on business performance. ManpowerGroups 2012 the world is a much different place than it was oneTalent Shortage Survey, the seventh in the annual series, year ago, and there are several notable differences.explores the extent to which employers in the worlds To begin with, skilled trades workers are once againleading economies are having difficulty filling talent; identified as the most difficult position to fill globallywhat jobs are most difficult to fill and why; concern over after slipping to the third spot in 2011.stakeholder impact; and what strategies employers arepursuing to overcome the talent shortage. The most surprising response, however, involves the percentage of employers who indicate unfilledIn this years research, over a third of the employers positions are expected to have little or no impact onwe surveyed told us they were unable to find the key constituents, such as customers and investors;talent their organizations need. That so many this proportion has grown considerablyfrom 36%employers continue to identify talent shortages as in 2011 to 56% in 2012.a barrier to their business goals defies prevailinglogic, especially when viewed against the high levels The reason behind this shift in perceived impact isof unemployment in many economiesparticularly puzzling. However, this finding could be revealingamong young adults. However, we asked a new normal. For example, employers wereemployers to identify why they were experiencing understandably cautious in the aftermath of theproblems filling positions in their organizations. recession, and responded to declining revenuesOverwhelmingly, a lack of available candidates with by allocating their resourcesboth financialthe right technical expertise and employability skills and humancautiously. And although manycontinues to vex employers. organizations have emerged from the challenges of the recession operating at new levels ofThis talent mismatch will continue to challenge efficiency, they evidently remain reluctant to addemployers. In the Human Age, companies will employees at greater expense, or without proofhave to navigate the continued growth of emerging that additional talent will provide long-term benefits.markets, globalization, and the expanded use of This is, in part, why hiring has not kept pace withincreasingly sophisticated and rapidly changing the overall economic recoveryorganizationstechnologies. Emerging trends put unprecedented have become more comfortable and adept atvalue on talent as the driver of business success. conducting business in an uncertain environmentThis will only increase the competition for proven, where systematic shortages of talent persist. Theytalented employees with skills employers need. are increasingly utilizing contingent workers toFurthermore, individuals with in-demand skills introduce more flexibility to their workforce to dealwill become more selective as they evaluate their with see-sawing demand. Since they believe theemployment options, compelling companies to talent challenges will persist, rather than focus ondevelop better recruitment and retention strategies. solving complex talent management issues, they areSimilarly, this lack of talent will force organizations to instead focusing on other areas of the business foradopt a new mindset regarding talent development, competitive advantage. However, for those companieswhere upskilling their existing employees and that maintain a longer-term view and realize that their2012 TALENT SHORTAGE SURVEY RESEARCH RESULTS 2
  • 3. EXECUTIVE SUMMARYtalent will differentiate them from their competitors, Other highlights from this years survey include:they will likely gain a major competitive advantage over Worldwide, talent shortages are most acute inthose who choose to put talent management on the the Asia Pacific region, with particular difficultiesback burner. As we have only been tracking impact faced by employers in Japan, where an agingin the research for two years, only time will tell if workforce is exacerbating the issue. Among aconfidence operating with systematic talent shortages subset of this regions employers who are mostis truly the new norm in business. concerned about inadequate talent supply,Nonetheless, failure to understand the impact unfilled soft skills deficits among IT and Engineeringpositions can have on the client experience and candidates are a current challenge.stakeholders, (and remember that an organizations Skilled trades positions are currently the mostemployees should be counted among this group) is difficult to fill in Europe, the Middle East anda monumental mistake. Organizations cannot remain Africa (EMEA), while employers in the Americasin denial about the long-term impact of talent on find engineering posts the hardest to fill. For thetheir businesses. Leaving positions unfilled may be a sixth consecutive year, Asia Pacific employersshort-term solution that organizations feel they can name the sales representative category as theendure at present and one that will boost the balance most challenging role to fill.sheet, however, as the shortage of specific skill sets Despite the ongoing level of talent shortages,becomes even more acute, it is also a short-sighted, compared to last year employers expressunsustainable approach to addressing talent shortages notably less concern about the impactin the Human Age. shortages have on key stakeholders such asSigns that talent shortages are here to stay also customers and investors. This surprising findinghighlight a key difference between the 2011 and may represent a new normal.2012 surveys. In 2011, only 24% of employers Environmental and organizational factors arenamed the Lack of available applicants/no important concerns for all businesses sufferingapplicants as the most common reason for from talent gaps, regardless of where thedifficulty filling jobs. In 2012, that percentage shortage lies. The top reason employers sayjumped to 33%. An equal percentage named Lack they cant fill roles is simply an overall lackof technical competencies/hard skillsin particular of applicants; the second is the candidate-the lack of industry-specific qualifications in both based factor that applicants lack the technicalprofessional and skilled trades categoriesup from competencies, or hard skills, required for the role.22% in 2011. Environmental factors, such as thislack of available applicants, may force organizations Employers are becoming slightly more proactiveto counter Human Age trends with proactive, about closing skills gapsmore employers seekinnovative and flexible workforce management to addr