Global talent shortage peaks at 17-year high in 2023
WISCONSIN, UNITED STATES — Nearly four out of five employers worldwide (77%) reported difficulty finding a skilled workforce this year.
According to the latest ManpowerGroup Talent Shortage survey, this figure reflects a 2-percentage point increase from the previous year and more than double the reported difficulty in 2015 (38%).
The study surveyed approximately 39,000 employers in 41 countries, with Taiwan (90%), Germany (86%), and Hong Kong (85%) experiencing the most severe impacts of the talent shortage.
ManpowerGroup Chairman and CEO Jonas Prising explained that the tight labor market means many companies face challenges finding people with the necessary soft and technical skills.
Among various soft skills, the study revealed that most employers are looking for talents with reliability and self-discipline (29%), creativity and originality (26%), critical thinking and analysis (26%), reasoning and problem-solving (26%), and resilience and adaptability (26%).
In terms of technical skills, the highest demand lies in IT & data (27%), engineering (22%), sales & marketing (20%), operations & logistics (19%), and customer-facing & front office skills (17%).
To address the skills gap, 71% of organizations plan to increase investment in their workforce, while 51% intend to fill new, permanent roles. Furthermore, 43% will invest in more technology to augment processes, and 37% will bring in more contract or temporary roles.
Meanwhile, nearly 3 in 5 organizations (57%) are looking to offer more work flexibility, and 55% expressed willingness to hire internationally to overcome the current talent shortage.
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Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
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