A Dearth of Workers
Around the world, managers are reporting a global talent shortage, with 40 percent of respondents to a 2016 survey saying they haven’t seen a challenge this great since 2007. The survey polled over 42,000 employers in Europe, the Middle East, Asia and the Americas about who they are looking for and the skills they need.
- Almost half (46 percent) of Asian companies were experiencing hiring difficulties, compared to 36 percent in Europe and the Middle East, and 42 percent in the Americas.
- Skilled trade positions remained in highest demand, a trend that has continued over the past five years. Traditionally poor opinions about the value of the skilled trade industries remain persistent across the globe, which causes many young people to steer away from those career opportunities. However, the interconnected global economy has generated strong building and manufacturing industries in many countries, many of which struggle to fill their open positions in time to complete their current and future contracts.
- The second most sought-after worker is the information technology and technical employee. Demand for these highly trained staffers is highest in Asia, and IT jobs are the 10th hardest to fill in the U.S.
- Engineers, drivers, accountants, managers
and operations professionals are all highly sought after in every corner of the world.
Worker Shortage Requires Innovative Recruiting Strategies
The worker shortage has compelled many companies to re-evaluate their hiring strategies, especially if those had traditionally relied on hyperlocal or in-house hiring practices. When there are no “local” candidates, however, corporations must then determine how to canvass a larger, potentially global region for appropriate
For many companies, that new hiring strategy requires intense analysis of what the role is expected to produce and how to best match that
- Does it require comparable experience over foundational education or the opposite?
- Must the skill base match exactly with the expected position? Or can comparative skill be used to enhance or improve on previous expectations?
- What are the short-, mid- and long-term goals for the position? Are there advancement opportunities? Will there be additional training expected or offered? How does this specific position factor into the company’s succession planning or future growth activities?
Experts assert that matching the company’s culture with a comparably cultured employee is the best strategy to pursue, to achieve the closest fit with the lowest likelihood of failure. If the worker shares a similar occupationally relevant mindset with the enterprise, then the education and skills background can modify to fit the work.
Finally, when the recruitment team identifies eligible candidates who will have to relocate to take the position, those companies that provide attractive relocation incentives are more likely to secure the hire. WHR Group research roots out the best relocation practices and standards that exist anywhere, not just across the globe but within separate industries, too. With this information, your company will know that its relocation packages are as enticing as any other company in your sector, so you don’t lose top talent because of an insufficient offer of relocation support. In this job-seeker economy, no company can afford to cut corners on this critically important incentive.
At WHR Group, we specialize in helping our clients find the right candidate and helping that employee feel at home in their new location. As more workers relocate to fill the needs of the growing global economy, the last thing they should worry about is how they are going to get their stuff from the old home to the new one. How can we help you find and relocate your next worker?
For more information on how WHR Group can take your relocation program to the next level, call us at 800-523-3318 or email contactus@whrg.com.
