Employers focusing on retaining skilled staff while cautious in hiring
Labour markets across the world "remain solid" despite persisting global geopolitical uncertainty, according to ManpowerGroup CEO Jonas Prising.
After conversations with business leaders worldwide, Prising said it is "evident" that the world is in rapidly changing times due to geopolitical uncertainty, advancing technology, and shifting post-pandemic economic rulebook.
"Still, labour markets remain solid in many areas, with relatively low unemployment and layoff activity," the CEO informed his employees in a conference call on Thursday. "Many large enterprise clients are prioritising hiring for the core skills they need and holding onto the skilled workers they have."
This is evident in ManpowerGroup's latest employment outlook survey of over 40,000 employers, where hiring confidence held steady at lower levels as economic uncertainty gives employers a "pause."
Focus on upskilling amid AI
This measure of focusing on retention while being cautious in hiring also comes as more employers put artificial intelligence at the front of their minds
"We are convinced that the potential of AI at scale will only be realised when it augments human capabilities and skills," Prising said. "Many companies recognise this need and are developing their current workforce, while selectively adding new talent."
Priority is also placed on9 retaining and attracting employees who have specialised, flexible skills and an adaptable mindset to adjust to the workplace's evolving needs, the CEO added.
"This focus on workforce development to maximise potential is more evident now than ever."
ManpowerGroup's latest survey among 40,374 employers revealed that 48% have already adopted AI, a 13% increase year-on-year. More than half of the respondents (55%) believe that AI will lead to higher headcount in their workforce, while 18% believe it will reduce their workforce.
