Global hiring steady, talent gap widens – survey
WISCONSIN, UNITED STATES — Employers globally expect moderate hiring, while talent shortages persist amidst fluctuating economic conditions.
The survey of over 40,000 employers across 41 countries reveals a modest yet steady hiring outlook for the first quarter of 2024, with a net employment outlook of 26%.
This figure represents a small 3% increase compared to last year’s period, but a 4% decrease from the previous quarter.
According to the latest ManpowerGroup Employment Outlook Survey, Regional hiring expectations are strongest in North America (34%) and Asia Pacific (30%), with countries like India (37%), the Netherlands (37%), Costa Rica (35%), and the U.S. (35%) leading individual country outlooks.
The weakest outlooks are in Hungary (10%), Japan (10%), Czech Republic (8%), and Argentina (2%).
27 countries report a stronger #hiring outlook YOY, including Hungary, Poland, The Netherlands, Portugal & Spain. See what other #hiringtrends are on the horizon in the Q1 2024 @ManpowerGroup #EmploymentOutlookSurvey: https://t.co/U6DBvvxa7Z #MEOS #talentshortage #MEOS pic.twitter.com/BvzJQtawVQ
— ManpowerGroup (@ManpowerGroup) December 28, 2023
However, demand remains high for skilled talent across sectors like IT (36%), financials and real estate (34%), communications (31%), healthcare (28%) and industrials (28%).
“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 ManpowerGroup Chairman and CEO, Jonas Prising.
Addressing the talent shortage, 75% of employers acknowledge difficulties in finding skilled talent, consistent with 2022 levels. In response, companies are offering more flexible work arrangements (65%), increased wages (30%), and exploring new talent pools (28%).
The survey also emphasizes the need for reskilling to keep pace with technology integration and sustainability initiatives, predicting significant evolution in required skill sets.
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