Talent Mismatch
TALENT MISMATCH
Abstract: This paper talks about the talent mismatch caused by skills shortages around the world. The paper reports on the difficulty experienced by employers all around the world in recruiting highly skilled workers who meet their strategic or long term goals. It cites the jobs noted by Manpower Group’s 2011 Talent Shortage Survey for which positions were hardest to fill by the employers all around the world. This paper also highlightsmajor business trends that are converging into a workplace. This paper also suggests employers to develop long-term recruitment strategies, sound job training strategies and appropriate retaining strategies. While it also suggests workers to have long term career planning that includes assessment of major skills required in the marketplace, strengths and areas of interest to ensure employability in ever changing work environment.
Keywords: Talent Mismatch, Talent Shortage, Difficulty filling jobs, Labor shortfall, Talent Gap
1.1 INTRODUCTION:
The demand for skilled labors in the global marketplace over the past decade and a half has been growing rapidly. Despite global economic meltdown, recession and colossal rate of unemployment in many countries the demand for talented individuals in the marketplace has not declined, instead the demand for highly skilled labor has been rising. However, on the supply side, due to talent scarcity, many jobs are left unfilled.
According to the recent survey conducted by human resource solutions firm Manpower (2011), 52% of UScompanies reported difficulty in filling out the jobs.Remarkably, the data from the previous year, 2010 stated just 14% companies had difficulty in filling out the jobs. Similarly, a report by World Economic Forum in collaboration with Boston Consulting Group titled “Global Talent Risk: Seven Responses” stated that the employability will become a huge problem worldwide in coming 20 years; it stated that currently, only 25% of Indian and 20% of Russians
Abstract: This paper talks about the talent mismatch caused by skills shortages around the world. The paper reports on the difficulty experienced by employers all around the world in recruiting highly skilled workers who meet their strategic or long term goals. It cites the jobs noted by Manpower Group’s 2011 Talent Shortage Survey for which positions were hardest to fill by the employers all around the world. This paper also highlightsmajor business trends that are converging into a workplace. This paper also suggests employers to develop long-term recruitment strategies, sound job training strategies and appropriate retaining strategies. While it also suggests workers to have long term career planning that includes assessment of major skills required in the marketplace, strengths and areas of interest to ensure employability in ever changing work environment.
Keywords: Talent Mismatch, Talent Shortage, Difficulty filling jobs, Labor shortfall, Talent Gap
1.1 INTRODUCTION:
The demand for skilled labors in the global marketplace over the past decade and a half has been growing rapidly. Despite global economic meltdown, recession and colossal rate of unemployment in many countries the demand for talented individuals in the marketplace has not declined, instead the demand for highly skilled labor has been rising. However, on the supply side, due to talent scarcity, many jobs are left unfilled.
According to the recent survey conducted by human resource solutions firm Manpower (2011), 52% of UScompanies reported difficulty in filling out the jobs.Remarkably, the data from the previous year, 2010 stated just 14% companies had difficulty in filling out the jobs. Similarly, a report by World Economic Forum in collaboration with Boston Consulting Group titled “Global Talent Risk: Seven Responses” stated that the employability will become a huge problem worldwide in coming 20 years; it stated that currently, only 25% of Indian and 20% of Russians
References: American Society for Training and Development (2006), How the Skills Shortage Threatens Growth and Competitiveness and What to do About It. pg.; 5-15 Bram Lowsky (2010) The Shrinking Talent Pool The Linkage Leader, Right Management Canada pg.:3-5 Kevin Wheeler (2010) Does Our Own Mindset Cause the Talent Shortage Recruiting Intelligence and Recruiting Agency http://www.ere.net/ Melanie Holmes (2011) Talent Mismatch- the Gap Widens, web seminar, Manpower Group. Tammy Johns Money ball and the Talent Mismatch Facing Business (2011): Harvard Business Review http://blogs.hbr.org/cs/2011/09/moneyball_and_the_talent_misma.html, 2010 Talent Shortage Survey Report, Manpower Group pg., 3-36 [ 2 ]. Melanie Holmes (2011) Talent Mismatch- the Gap Widens, Web seminar, Manpower Group. [ 3 ]. American Society for Training and Development (2006), How the Skills Shortage Threatens Growth and Competitiveness and What to do About It. pg.; 5-15 [ 4 ] [ 5 ]. Tamar Elkeles and Jack Phillips (2006)The Chief Learning Officer: Driving Value within a changing organization Edition 1 pg: 25-38 [ 6 ] [ 7 ]. Kevin Wheeler (2010) Does Our Own Mindset Cause the Talent Shortage Recruiting Intelligence and Recruiting Agency http://www.ere.net/ [ 8 ]