The New U.S. Talent Reality: High Talent Shortages, Low Unemployment and Increasing Demand for Hard and Soft Skills
Most of the jobs where demand is growing are mid-skilled roles such as electricians, welders and mechanics that require training, yet not always a four-year college degree. More than half of the companies surveyed are investing in learning platforms and development tools to build their talent pipeline, up 7% from 2016. Nineteen percent of employers are also changing their existing work models, including offering flexible work arrangements.
Although unemployment remains low, there are millions of workers on the edge of the U.S. labor market. Companies are bringing in workers from the sidelines to fill talent gaps and 40% are looking at different talent pools for skills including boomerang retirees, long-term unemployed or returning parents and part-timers.
"We continue to see increasing demand for skilled workers across all sectors of the U.S. economy from transport and trade to manufacturing and sales," said
Global talent shortages are at the highest level in 12 years.
- BUILD. Invest in learning and development to grow the talent pipeline and upskill the existing and potential workforce.
- BUY. In a tight labor market, go to the external market to find the best talent that cannot be built in-house in the timeframe required to fill immediate openings.
- BORROW. Cultivate communities of talent inside and outside the organization including part-time, freelance, contract and temporary workers to complement existing workforce.
- BRIDGE. Help people move on and move up to new roles inside or outside the organization.
For more details on the talent shortages around the world, including an interactive data explorer tool, visit www.manpowergroup.com/talentshortage.
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Danielle Switalski, (414) 248-7431, firstname.lastname@example.org