Employers across the globe are facing the worst skills shortages seen since the start of the financial crisis, according to the latest research.
The Manpower Group’s Annual Talent Shortage Survey revealed that while many economies around the world are entering a period of recovery, they may not have the workforce needed to power up their operations now and into the future.
Questioning 37,000 employers the research showed that more than a third (36%) are facing difficulties in finding skilled candidates to fill their range of vacancies. This is the highest level recorded since 2007.
More worrying still is the fact that over half (54%) of those questioned, outlined that this has a “medium or high impact” on their capacity to meet client’s demands.
UK sees fall in skills shortages, but action still needs to be taken
Despite the less than positive figures, the research also noted that the UK’s skills gap has dipped marginally over the last 12 months. This has fallen from 13% of employers reporting skills shortages to 12% across the year.
Commenting on the survey findings, Manpower UK Managing Director Mark Cahill argued that HR departments the world over need to be proactive when it comes to tackling skills shortages. He said: “Successful HR leaders are increasingly efficient in recruiting talent exactly where it is needed, marketing their organisation’s strengths to attract the best candidates and shaping the work model to suit their goals and employees.”
Negative impact of skills shortages
Earlier this year research conducted by CareerBuilder UK revealed some of the negative impacts of skills shortages on business performance.
For 25% of employers, skills shortages have led to lower morale as other employees take on heavier workloads to compensate. For 17%, skills shortages have acted as a barrier growth, while 12% have argued that a lack of skilled staff has presented a significant hit to their revenues.
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