Manpower Inc. Talent Shortage Survey Reveals 40% of Employers Worldwide Are Struggling to Find Qualified Job Candidates
Feb 21, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Manpower Inc. (NYSE: MAN) surveyed nearly 33,000 employers across 23 countries and territories in late January to determine the extent to which talent shortages are impacting today's labor markets. The survey results, released today, revealed that 40 percent of employers worldwide are having difficulty filling positions due to the lack of suitable talent available in their markets.
Employers having the most difficulty finding the right people to fill jobs are those in Mexico (78% reporting shortages), Canada (66%) and Japan (58%). The talent shortage appears to be least problematic in India, where only 13 percent of employers reported having difficulty filling positions.
"The talent shortage is becoming a reality for a larger number of employers around the world, and this is only going to get worse over the next several decades, as demographic shifts and other factors continue to reduce the number of people who are willing and able to participate in the workforce," said Jeffrey A. Joerres, Chairman & CEO of Manpower Inc. "The shortages are most acute across North America at this point, with employers in Europe and Asia currently feeling much less pressure to compete for employees."
The top 10 jobs that employers are having difficulty filling across the 23 countries and territories surveyed are (ranked in order):
1. Sales Representatives 2. Engineers 3. Technicians (primarily production/operations, engineering and maintenance) 4. Production Operators 5. Skilled Manual Trades (primarily carpenters, welders and plumbers) 6. IT Staff (primarily programmers/developers) 7. Administrative Assistants/Personal Assistants 8. Drivers 9. Accountants 10. Management/Executives
"Across North America and Asia, the top three talent shortages are identical -- sales representatives rank number one, followed by engineers and technicians," said Joerres. "Employers are telling us that they are not just looking for bodies to fill sales jobs, they want experienced sales people who know their respective industries and can drive revenues."
"As employers compete for talent in these hot job categories, we will see salaries and compensation escalate. Anyone who is currently searching for a new job or a different career path should seriously consider the results of this survey, and set their sights on getting the education and training required to pursue one of these promising career paths," Joerres advised.
Today's survey announcement coincides with the publication of a new Manpower White Paper, "Confronting the Coming Talent Crunch: What's Next?" The white paper highlights the growing talent shortages around the world and what businesses, government and individuals should be doing to adapt their human resource strategies. Visit http://www.manpower.com/ResearchCenter for a copy of the white paper.
Joerres added, "In 10 years, we will see many businesses failing because they haven't planned ahead for the talent shortage and are unable to find the people they need to run their businesses. This is not a cyclical trend, as we have seen in the past, this time the talent crunch is for real, and it's going to last for decades."
About Manpower Inc.
Manpower Inc. (NYSE: MAN) is a world leader in the employment services industry; creating and delivering services that enable its clients to win in the changing world of work. The $16 billion company offers employers a range of services for the entire employment and business cycle including permanent, temporary and contract recruitment; employee assessment and selection; training; outplacement; outsourcing and consulting. Manpower's worldwide network of 4,400 offices in 72 countries and territories enables the company to meet the needs of its 400,000 clients per year, including small and medium size enterprises in all industry sectors, as well as the world's largest multinational corporations. The focus of Manpower's work is on raising productivity through improved quality, efficiency and cost-reduction across their total workforce, enabling clients to concentrate on their core business activities. Manpower Inc. operates under five brands: Manpower, Manpower Professional, Elan, Jefferson Wells and Right Management. More information on Manpower Inc. is available at http://www.manpower.com .
SOURCE Manpower Inc.
Britt Zarling of Manpower Inc., +1-414-906-7272, firstname.lastname@example.org://www.prnewswire.com
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