Despite the continuing caution exercised by many organisations amid the ongoing economic uncertainty, a substantial proportion of employers around the globe identify a lack of available skilled talent as a continuing drag on business performance, according to Man-powerGroup’s Talent Shortage Survey.
In this year’s research, more than a third of the employers said they were unable to find the talent their organisations needed. That so many employers continue to identify talent shortages as a barrier to their business goals defies prevailing logic, especially when viewed against the high levels of unemployment in many economies – particularly among young adults.
Overwhelmingly, a lack of available candidates with the right technical expertise and employability skills continues to vex employers.
This talent mismatch will continue to challenge employers. Companies will have to navigate the continued growth of emerging markets, globalisation and the expanded use of increasingly sophisticated and rapidly changing technologies, Manpower says. Emerging trends put unprecedented value on talent as the driver of business success. This will only increase the competition for proven, talented employees with skills employers need.
Furthermore, the US-based human-resource consultancy says, people with in-demand skills will become more selective as they evaluate their employment options, compelling companies to develop better recruitment and retention strategies.
Similarly, this lack of talent |will force organisations to adopt a new mindset regarding talent development, where improving |the skills of their existing em-|ployees and developing candidates with potential become the norm rather than the exception.
Suthida Kanjanakantikul, marketing manager at Manpower-Group Thailand, said yesterday that several organisations were being cautious in every aspect when carrying out their business operations amid economic fluctuation.
“On the other hand, they are facing the issue that some of their employees lack necessary skills, and these employees have become a hindrance and weakness of the agencies, and impaired organisational capability and effectiveness.
“At present, this talent shortage does not hinder business operation in any way. But if the issue is not coped with in the right direction, it is expected that this will prevent the agency or organisation from being able to compete effectively in industries,” she said.
“We see that companies should establish operational plans, strategies and directions for their continuous growth according to the trend of business growth and changes in order to accommodate the upcoming open market under the Asean Economic Community, as well as the large number of changes in technology in the world.
“These changes require all agencies and organisations to look for workers with great potential, strong points and other special skills outside their field of work,” Suthida said.
Some employers have the desire to tackle the shortage of talent by enhancing skills for their workers to ensure that these employees continuously develop their capability. It can be seen that these employers realise that the talent shortage has an impact on their business operations and are willing to target the problem to ensure their future growth.
They also believe that skill enhancement for staff at the operational level will propel the organisation to develop and effectively compete in the market.