Global Talent Shortages Hit Record Highs: ManpowerGroup Reveals How to Close the Skills Gap with New Research on What Workers Want
Global talent shortages have almost doubled in the last decade according to new research from ManpowerGroup released ahead of the World Economic Forum in Davos next week. 54% of companies report skills shortages with businesses in 36 of 44 countries finding it more difficult to attract skilled talent than in 2018. Employers in the US (69%), Mexico (52%) Italy (47%) and Spain (41%) report the most acute shortages.
Closing the Skills Gap: What Workers Want reveals what attracts people to an organization and what makes them stay so that businesses can find, build and keep the best talent. While what workers want varies by geography, gender and at different stages of career cycles the research finds autonomy over when and where work gets done, wellbeing to balance work and life and career mobility to build skills are top priorities alongside strong leadership and a commitment to purpose.
HR Technology News: Workforce Management and HCM Solutions Provider Kronos Lauded by NelsonHall
“In an increasingly tech-enabled world, people with skills are in demand,” said Jonas Prising, ManpowerGroup Chairman & CEO. “We know from conversations with candidates, clients and from our data that workers want flexibility and the opportunity to learn new skills. Ahead of the World Economic Forum Annual Meeting in Davos next week, we are calling for leaders to shift their workforce demands closer to the needs of in-demand talent. Creating shareholder value can only be done in conjunction with taking care of employees, customers and communities, so listening to the voice of the consumer is key. As the pace of disruption accelerates, helping people adapt for future jobs and companies become creators of talent has never been more important.”
Closing the Skills Gap: What Workers Want finds that what workers want varies by geography, gender and at different stages of career cycles:
- Gen Zs (age 18-24) are ambitious, hungry for cash and career development, yet already, women and men have differing desires. Women prioritize pay twice as much as their next priority — developing skills — while men say skills and career matter almost as much as pay.
- Millennials (25-34) want flexibility and challenging work; women say flexibility is a necessity, whereas it’s still a nice-to-have for men.
- Younger Xers (35-44) are on a quest for balance. Men prioritize flexibility as much as women and want the ability to work remotely, their share of parental leave and a flexible start and end to their day.
- Boomers (age 55-64 and 65+) are driven by pay, challenging work and flexibility though they place the highest priority on leadership and teams. Older workers want to pay it forward: the over 65s are most motivated by purpose.
HR Technology News: The Right Combination of Human Support and Technology Helps with Global Expansion, Says Velocity Global