Megatrends are redrawing the skills map for global businesses; the supply of talent is shifting at a time when demand is increasing. This is exacerbating a familiar worry for CEOs; 63% said availability of skills was a serious concern, an increase of 5% on 2013. With half of CEOs planning to hire more people over the next 12 months, competition for talent will be intense. Wage arbitrage is a growing concern; 58% of CEOs are worried about rising labour costs in high- growth markets.
Governments need to help
CEOs lay much of the blame for the skills shortage at
the feet of government and legislators; 52% say that regulation is hampering their ability to attract and retain the best people, and only one in five felt their government had been effective in addressing skills shortages.
CEOs see that there are serious talent management challenges ahead; 93% say that they recognise the need to change their strategy for attracting and retaining talent. But an enormous 61% haven’t yet taken the first step. CEOs are well aware that something needs to be done, but are less sure of exactly what that is.
Chosen excerpts by Job Market Monitor. Read the whole story at 17th Annual Global CEO Survey: The talent challenge – PWC
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