The Talent Shortage – Are You a Victim or Victor?

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More than one employer in five is not pursuing a new recruitment strategy to overcome talent shortages. Many more still cannot see that action is necessary. Without guidance, companies have lost track of their recruiting goals, and allowed their talent pool to run dry. That’s why we’ve constructed this guide to help define the path to a better solution. Below is some insight into trends, the problem, and some options to resolve this growing shortage.


Where it hurts the most

The statistics are in — and we know what jobs are the hardest to fill. For the fourth consecutive year, Skilled Trades vacancies are the hardest jobs to fill globally. Sales Representatives are in second place, followed by Engineers, Technicians and Drivers. Honorable mention goes to the following for rounding out our top ten — Management, Accounting Staff, Office Support Staff, IT Staff, and Production Operations. This is just a snapshot into the issues many are having, but it doesn’t stop there. Every industry runs into talent shortages in some capacity. Let’s talk about where the problem exists, and why it’s happening. talent shortages

What’s the problem?

We know the problem exists, but we can’t seem to put our finger on the pulse. What is it that causes these shortages? Well, we found the top 5 key reasons for difficulty filling jobs. You can check out our research below:

 

  35% Lack of available applicants or none at all

  34% Lack of technical competencies (hard skills)

  22% Lack of experience

  17% Lack of workplace competencies (soft skills)

   13% looking for more pay than is offered

 

Why is this happening?

Employers are not doing enough to address the talent shortages. More than 1 in 5 employers are not pursuing any strategies to fix the problem at all.  Only 1 in 10 is adopting recruitment strategies to utilize untapped talent pools. Only 1 in 20 is looking to enhance benefits or increase starting salaries. 5% are redefining qualifying criteria to include individuals who present a “teachable fit.”  Lastly, only 1 in 5 is providing additional training and development to existing staff. These are pretty staggering number, but there is always time for change.

 

What employers can do

Instead of maintaining outdated practices, smart companies are taking the time to analyze their employees from a completely new perspective. Business owners are quickly realizing that an impact performer for one company may not look the same as an impact performer for a different company.

What employers can do

-Now we implement-


HR Certification InstituteIf you would like to hear more about this topic, along with additional trends, join Joan Graci on:

May 24, 2016 – Buffalo News Career Fest Employer Sunrise Seminar, 7:30 AM

REGISTER HERE

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