Report: 2018 Talent Shortage Survey
The UK is in the grips of an extensive talent shortage; with unemployment at a level not seen since the mid 1970’s and job vacancies continuing to grow. At the same time, technology is transforming how work gets done, creating demand for new skills which employers are struggling to find.
To ensure organisations can attract and secure the in-demand skills they need, employers must understand which areas are most impacted by talent shortages, the reasons why, and how this affects the running of their business. This will allow organisations to shift from ‘just in time’ recruitment strategies, to becoming builders of talent for today and tomorrow.
That’s why we surveyed nearly 40,000 employers in 43 countries to learn more about the impact of talent shortages on companies. We asked how much difficulty they are having filling roles compared to last year; which skills they most struggle to find and why; and what they are doing to solve talent shortages.
We invite you to take a look at the findings from UK employers:
Talent Shortages in the UK
One-third of employers say the main reason they can’t fill roles is a lack of applicants. Given the low levels of unemployment currently seen in the UK, this lack of applicants may not come as a surprise. Another 26% say candidates lack the necessary experience.
Another commonly given reason why UK employers can’t find the talent they need is because applicants lack the hard skills they need (14%) or that they lack certain soft skills (6%). In today’s world of work, finding workers with the right blend of technical skills and human strengths is more important than ever. For example, sales representatives need strong product knowledge, excellent relationship management skills, and the ability to use digital inventory and analytics tools – three skill sets that are very disparate. While in IT functions, technical capabilities are vital, but strong people management and communication skills are important too. Finding individuals with the right skills mix is critical.
UK employers are exploring a number of strategies in order to overcome these talent shortages. Most predominantly, 72% of investing in training and development platforms to build their talent pipelines. With new roles emerging as fast as others become obsolete, employers realise that what you are likely to learn is becoming more important than what you already know. Consequently, many companies are beginning to tackle talent shortages by upskilling their own workforce.
Companies are also trying to reach new talent pools, and attract people who would not previously have been considered for a role within their organisation. 41% of employers are recruiting from outside their traditional talent pool, and looking to attract different demographics, age ranges, geographies, as well as groups like retirees, returning parents and part-timers. Added to this, more than one-third (36%) of employers are being more flexible about the education or experience requirements for the role.
How ManpowerGroup Solutions Can Help
At ManpowerGroup Solutions, we partner with organisations to overcome the challenge of talent shortages, by helping them get the most from their people. We connect them to the talent they need and optimise their workforce management processes, so they can achieve their critical business goals. Our ability to capitalise on new thinking, new workforce models and new possibilities has made us the most respected workforce solutions provider in the world – as benchmarked by leading industry analysts.
Learn more about our extensive workforce solutions capabilities – visit Our Solutions.