Global concern over talent shortages, survey shows

Shrinkage in the global talent pool has become a major headache for business leaders across the world, according to a survey by international recruitment firm Cielo.

Global concern over talent shortages, survey shows
A survey of more than 1,000 HR, business and procurement professionals by recruitment firm Cielo has revealed that almost 70 per cent are concerned about a shortage of talented recruits and about the increasing competition for available skills. Some 54 per cent of respondents said their firms had more open positions than ever before.

Disagreements over how to recruit new talent

According to a report on the London Loves Business website, the situation "is causing major shifts in corporate strategy, as well as significant disagreements among business functions regarding their companies’ approaches to finding, recruiting, interviewing and hiring new employees".Cielo found that business leaders disagreed on talent acquisition priorities, effectiveness, metrics for success and the role of technology and outsourced services to help them compete for talent.
The research found that only 10 per cent prioritised implementing technology to achieve their strategic goals.

C-Suite leaders increasingly demanding involvement

Seb O’Connell, Cielo's Europe and APAC managing director, said: “Over 70 per cent of C-Suite leaders now say they want to play a role in talent acquisition decisions, a clear indication of the increasing pressure to align talent acquisition and retention with business goals."There is a tremendous opportunity to improve outcomes through better collaboration and communication across the enterprise and taking the time to implement technology into talent acquisition programmes will achieve this at a much quicker pace.”

Hiring contingent labour

Cielo’s study also revealed that nearly 30 per cent of companies were now hiring contingent labour across all job levels, including 24 per cent of senior roles, 28 per cent of manager level roles, 32 per cent of individual contributors and 41 per cent of entry-level talent.“There appears to be a rapidly growing trend as 65 per cent of companies we surveyed said they expect flexible workers, contingent workers and project-based workers will take over a significant amount of the work currently being done by full-time employees,” said Mr O'Connell.“We’re seeing more and more companies embrace a ‘total talent’ approach that incorporates the recruiting, hiring, and retaining functions of all their employees into a single strategy. This shift introduces important challenges, specifically around who owns that single strategy for the organisation."For related news and features, visit our Talent Management section.
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