All rights reserved. ➡️ Learn how to build your talent pool proactively and nurture and engage your candidates! Bootcamps. Sixty-four percent of employers are upskilling people in hard skills through technical certifications, apprenticeships and ➡️ Learn how to promote your employer brand on social media! Why such a dire talent shortage in US manufacturing? . In 2020, 82% of companies use some form of pre-employment assessment tests. But if you think it’s tough to find great talent now, new research from the Korn Ferry Institute suggests that things are only going to get worse. Infocorp carried out quantitative research with 24,419 employers across six industry sectors in 44 countries and territories: Argentina, Australia, Austria, Belgium, Brazil, Bulgaria, Canada, China, Colombia, Costa Rica, Croatia, Czech Republic, Finland, France, Germany, Greece, Guatemala, Hong Kong, Hungary, India, Ireland, Israel, Italy, Japan, Mexico, Netherlands, New Zealand, Norway, Panama, Peru, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Taiwan, Turkey, UK and USA. While nobody has a crystal ball, signs indicate that talent shortages will worsen: Get ready to work harder than ever to recruit the good people you need. How important is company culture in 2020? According to the U.S. Bureau of Labor Statistics, there are currently more job openings in the U.S. economy than there are people looking for work. When skill gaps and talent needs are projected, the organization is given the necessary time to gather the resources needed to create these training programs. Respondents were aged 18-79 and included full-time workers (78%), part-time workers (13%) and gig workers (12%) from organizations of all sizes and at all levels of the company from entry level and individual contributors to senior management and C-suite. Taking your recruiting to the next level will ensure the talent you need, will always be in supply, and isn’t that what drives and maintains success? But when it comes to ailing CEOs, the decision isn’t black-and-white. Office perks (e.g., free lunch, casual dress): 19%Source: Glassdoor Employment Confidence Survey. See which positions are the hardest to fill globally and in your country. Beyond a global talent shortage, organizational leaders are grappling with a series of interrelated risks from a rapidly transforming business environment. Accelerating privacy regulation remained a key concern, dropping into second place in this quarter’s survey. Women continue to do most of the emotional labor and unpaid work at home balancing work around other commitments. How important is diversity hiring in 2020? ➡️ Learn how to evaluate and choose the best recruiting tool that will fit your specific needs! This HUGE list of the most important hiring statistics contains everything you need to know to benchmark your recruiting and ensure successful hiring in 2020. Source: Gartner (January 2019). “Unfortunately for most organizations, the most critical talent needs are also the most rare and expensive to hire for,” said Mr. Shinkman. ➡️ Learn how to build your employer branding strategy in 5 steps [INFOGRAPHIC]! Both are equally important! This year new research reveals what attracts and retains workers and how that varies by age, gender and geography. Hire for what’s next! The boss they work for and the people they work with matter a great deal. We use cookies to deliver the best possible experience on our website. Workforce development programs. The survey of 137 senior executives in 4Q18 showed that concerns about “talent shortages” now outweigh those around “accelerating privacy regulation” and “cloud computing”, which were the top two risks in the 3Q18 Emerging Risk Monitor (see Figure 1). Participate in the Global Talent Trends Study. And how to win them over? What is the best way to assess your candidates’ knowledge and skills? There has always been a disconnect between traditional education and truly applicable skills, but the skill gap and talent shortage has put a magnifying glass on it. When the skills simply aren’t there, organizations are going to have to establish working training programs, before it’s too late. Invest some time and effort in creating an effective (and fun!) With a ... Personalize Your Applicant Screening Process for Better Results, Transforming Your Talent Process: 7 Must Have Downloads, 49% of employers plan to train workers who don’t have experience, top business challenge was hiring and retaining talent, The Difference Between Performance Management and Performance Reviews. Should you invest in onboarding in 2020? For the 7th consecutive year, skilled trades positions are the hardest to fill and healthcare was added to this year’s list. skills gaps, low unemployment and disruptive technologies, Bureau of Labor Statistics’ unemployment data, U.S. labor force is declining by about 5,900 Baby Boomers, Highly skilled healthcare workers, such as nurses, doctors and medical specialists, Skilled manufacturing and trades workers, such as electricians, machinists, welders, Business and finance specialists, especially with experience in fin-tech technologies and platforms, Skilled technicians in healthcare and telecommunications. We equip business leaders with indispensable insights, advice and tools to achieve their mission-critical priorities today and build the successful organizations of tomorrow. Is Candidate Management Really That Important? Here we’re identifying that this challenge isn’t just a projection or prediction; it is the current reality. ➡️ Check out our guide for conducting structured job interviews! ➡️ Check out our guide on how to successfully onboard new employees! The most frequently used interview techniques are structured interviews. Attracting and recruiting is only going to get tougher, especially without the necessary information to make informed recruiting moves. How open are top candidates to changing jobs? While 2025 might seem too far away to seem relevant, those numbers don’t change overnight. Employees in 30+ countries also shared what helps them thrive in uncertain times. The skills gap is widening, unemployment in the U.S. is at its lowest rate since 2000, and nearly 60% of employers struggle to fill job vacancies within 12 weeks. 60% of people report that benefits and perks are a major factor in considering whether to accept a job offer.Source: Glassdoor Employment Confidence Survey, Most wanted benefits are:1. To learn more about how we help decision makers fuel the future of business, visit gartner.com. CEOs are betting technology will rule, but are they ignoring their most important asset? Architecting a Better Talent Acquisition Pipeline with PBK. Companies of all sizes from major corporations (250+) to micro firms (less than 10 employees) are struggling to attract talent. This is intended as an eye-opener for those organizations that have not yet invested resources into building strong talent pipelines, worked out a talent strategy, or recognized the effectiveness of talent forecasting.