War for Talent
Human Resources, Market Conditions, Professional Services Consulting
As reported by Hunt Scanlon, hiring optimism has returned to levels not seen since the start of the pandemic with employers in 36 of 40 countries reporting stronger hiring outlooks year-over-year according to the latest ManpowerGroup Employment Outlook Survey of more than 40,000 employers. Yet that optimism is being tempered by the highest levels of global talent shortages in 16 years with 75% of employers reporting difficulty filling vacancies, a six percent increase compared to this time last year. Employers report technology and data skills (29%), are the most difficult to find, followed by skilled workers in sales and marketing (22%), operations and logistics (21%). This has caused a war for talent.
“While it’s encouraging to see employers have the intention to hire workers, it’s been increasingly difficult for them to find the talent they need,” said Jonas Prising, chairman and CEO of ManpowerGroup. “On top of the skills gap challenge, employers are dealing with wage inflation and competition for workers, as many are switching industries altogether to better suit their lifestyle. On the ground, we continue to see talent shortages created by the pandemic, the Ukraine conflict starting to impact the supply chain, and greater uncertainty in the economic outlook.”
In the U.S., employers report their most optimistic hiring intentions in more than 21 years. The U.S. (+38%) and Canada (+43%) report strong hiring levels for the third quarter. Hiring managers in both countries expect hiring to be significantly stronger compared to intentions year over year (+24%, Canada and +9%, U.S.).
By Industry in the U.S.:
- IT, tech, telecoms, communications & media +59%
- Banking, finance, insurance & real estate +45%
- Primary production +26%
Our inclusive team of trusted advisors have a keen eye for diverse and dynamic candidates. This competitive and untamed market has created uncertainty and shifting hiring practices for HR, leadership, and hiring teams. Our market insights to adapting salary targets and candidate pools contribute to our 97% acceptance rate. For more global hiring & diversity statistics and to learn about Talent Partners solutions with proven success, feel free to email us directly.
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