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The Jobs Are There, But the People Are Not

Stop us if you’ve heard this one before... hiring optimism remains strong, but talent shortages continue to pose problems. Despite the need and want to hire, recruiting the talent needed to fill vacancies remains the biggest challenge for businesses of all shapes and sizes. 
The latest installment of the ManpowerGroup Employment Outlook Survey of more than 40,000 employers across 40 countries finds global talent shortages are at a 16-year high with 75% of employers reporting they cannot find the people they need. An increase of 6% from one year ago and double the difficulty found in 2010 (31%), with the most difficult roles to fill globally in Education, Health, Social Work, Government, IT and Telecom, and Banking and Finance.  
“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, ManpowerGroup Chairman and CEO. “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 creating greater uncertainty in the economic outlook. The need for organizations like ours to focus on reskilling and creating talent at scale has never been more important.”   
Digital Roles Continue to Drive Demand 
The digital revolution that accelerated during the pandemic has only picked up speed as more organizations search for individuals with the right mix of digital and tech skills needed to operate in an increasingly tech-driven world.  
Employers report technology and data skills (29%) as the most difficult to find. Couple that with the IT & Technology employers reporting the strongest hiring outlook (+44%) this quarter, yet 76% can’t find the people they need. We’re seeing the perfect storm of supply falling dramatically short of meeting demand -- but IT and Tech aren’t alone.  
The Banking and Finance (+38%), Construction (+33%), and Manufacturing (+33%) industries are also posting strong demand while struggling to hire. How bad is it? Employers in each of these industries report extreme difficulty in finding talent with the skills they need (75%, 72%, and 76%, respectively).  
One of the common denominators is the lack of skills, which continues to be a significant hinderance for organizations looking to hire.  
Finding the Right Soft Skills is Proving to be Quite Hard 
When COVID-19 hit, it was quickly evident that the world of work would be changing, and the skills needed to do that work would be altered. The transformations reinforced the need for employees to reskill and upskill themselves like never before. Yet, even though we’re in a more digitally inclined world of work, employers report that some of the top skills they’re looking for in their talent pool are those that are decidedly human or “power” skills. Those include: 

  • Reliability & Self-discipline  

  • Resilience & Adaptability  

  • Reasoning & Problem-solving 

  • Creativity & Originality  

  • Critical Thinking & Analysis    

What are traditionally called soft skills –– or human skills –– are becoming increasingly important. As organizations rely more on computers and technology to expedite tedious tasks, humans are needed to manage, collaborate and strategize. As every aspect of life becomes more tech-enabled, human strengths continue to stand out in the digital age. 
To see the complete results from the survey, including the hiring outlooks for different regions around the world, visit: