Majority offering more work flexibility to address issue: report
Three in four employers worldwide are reporting difficulties in filling vacancies, according to ManpowerGroup.
Its 2024 Global Shortage Report revealed that 75% of employers across the world are finding it hard to recruit for their openings, down slightly from the 77% in 2023.
To address the issue, 65% of employers around the world said they are offering more work flexibility. Other said they are raising rages (30%) and are looking at new talent pools (28%).
Talent shortage breakdown
To gather this data, ManpowerGroup surveyed 40,077 employers across 41 countries.
By size, organisations with 1,000 to 4,999 employees are most likely to find it hard recruiting talent, with 77%.
By nation, 85% of organisations in Japan reported talent shortages, followed by Germany, Israel, and Greece, which all reported 82%.
Source: ManpowerGroup
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By sector, the industry that was most likely to report talent shortages include Health Care and Life Sciences (77%). It was followed by Consumer Goods and Services, Information Technology, as well as the Transport, Logistics, and Automotive industries, with 76%.
Source: ManpowerGroup
According to the report, employers are mostly having trouble finding employees with the following technical skillsets:
- IT and Data
- Engineering
- Sales and Marketing
- Operations and Logistics
- Manufacturing and Production
In terms of soft skills, the most difficult skillsets to find for employers include:
- Collaboration and Teamwork
- Accountability and Reliability
- Active Learning and Curiosity
- Resilience and Adaptability
Amid the struggle in recruiting talent, ManpowerGroup's Employment Outlook Survey in January revealed that organisations will observe moderate hiring in the first quarter of 2024, with many looking into retaining their existing workforce.
"As companies continue to transform their business models, many are holding onto the talent they have, and struggling to find the new talent they need," said Jonas Prising, ManpowerGroup chairman and CEO, in a previous statement. "This data suggests organisations are committed to offering flexible work options, recognising that this can give them a competitive edge for attracting and retaining workers."