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 (NYSE: MAN) 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 U.S. (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.
“In an increasingly tech-enabled world, people with skills are in demand.” Said Jonas Prising, 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.
For information on Closing the Skills Gap: What Workers Want published ahead of the 50th anniversary of the World Economic Forum’s annual meeting, Stakeholders for a Cohesive and Sustainable World, visit https://wef.manpowergroup.com/.
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions – creates substantially more value for candidates and clients across 80 countries and territories and has done so for over 70 years. In 2019, ManpowerGroup was named one of the World’s Most Ethical Companies for the tenth year and one of Fortune’s Most Admired Companies for the seventeenth year, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup is powering the future of work: www.manpowergroup.com
About ManpowerGroup Bulgaria
ManpowerGroup Bulgaria is part of ManpowerGroup® and one of the leaders on the Bulgarian market in contingent and permanent recruitment solutions, staff assessment, RPO and career consulting. With branches in Sofia, Plovdiv, Burgas and Varna, ManpowerGroup Bulgaria has provided organisations in the country with a continuum of staffing solutions for twelve years now, working with businesses from all industry sectors. In the Human Age, where talent has replaced access to capital as the key competitive differentiator, ManpowerGroup Bulgaria leverages its trusted brand to develop a rich talent pool, providing clients with access to the people they need, fast. By creating powerful connections between organisations and talents, we help everybody achieve more than they imagined, and power the world of work: www.manpower.bg