Employers Face Perfect Talent Storm

Economic growth is placing increased pressure on skilled labour markets, leading to a growing global talent crisis, according to the Hays Global Skills Index 2014. The challenges are particularly acute in developed economies such as the US, Germany and the UK, which are now returning to pre-crisis levels.

In many markets, the labour available simply does not meet the skill requirements of employers, says Hays, and talent mismatch – the gap between what skills people can offer and what employers are looking for – continued to worsen this year. In all countries that faced particularly high levels of talent mismatch last year including the US, Spain, Portugal, Japan and the UK, the situation is even more serious this year.

In order to avoid a global talent crisis derailing growth, Hays calls on Governments and the business community to take action.

One recommendation set out in the report is that Government policy must clearly distinguish between mass migration and skilled migration, so that employers are able to recruit the types of skilled workers they need.

“To avoid an ever-greater gulf between the needs of employers and the skills of those looking for work, we need more collaborative action from Governments, education authorities and critically, businesses themselves,” said Hays’ Chief Executive Alistair Cox.

“From a Government perspective, this also means having immigration policies in place to attract top skilled workers from overseas,” he added. “We need policy makers to work harder on the crucial distinction between skilled and unskilled migration. Businesses must have access to the talent they need, regardless of nationality.”

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