Companies must adapt their HR strategies to find and retain talent in the midst of a global labour and skills shortage.
Employers are finding it increasingly difficult to find and keep skilled employees because of demographic change, globalisation and changing views on work and careers following Covid-19 lockdowns. Industry and country-specific factors, such as Brexit, are also having an impact.
The 2021 Q3 ManpowerGroup Employment Outlook Survey found that 69% of businesses globally reported talent shortages in 2021. In 2013 it had been only 35%. According to a recent survey from SD Worx, a Belgium-based human resources services company, 42% of European employers struggle to attract employees. More than half of European employers said positioning themselves as an attractive employer amongst increased competition has never been more difficult. In Australia, a third of all businesses struggle to find suitable workers and a recently conducted survey on workforce in Asia Pacific shows that the balance of power between employees and employers is shifting, as the vast majority of employees surveyed plan to ask for a promotion or a salary increase within the next 12 months. A post-pandemic ‘great resignation’ in the US has spread to other countries staff turnover in Europe, Australia and elsewhere.
This generates costs for organisations as they cope with permanently unfilled positions; advertising for new workers and repeated hiring and onboarding processes for new employees....
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