Worldwide talent shortage even more acute in India, with 41 percent of local employers struggling to fill jobs, compared to 36 percent globally
India (29 May 2014) : AV Services Pvt Ltd India today released the results of its 9th Annual Talent Shortage Survey, finding over 40% of employers in India are experiencing difficulty finding staff with the right skills.
Global results of AV Services Pvt Ltd’s Talent Shortage Survey reveal 36% of employers worldwide are reporting shortages, the highest level since 2007.
The survey of more than 1,500 employers in India found the most difficult jobs to fill are Skilled Trades, Engineers and Sales Representatives — the same top three as 2012 and 2013. Almost all of the Top 10 hard-to-find roles remain unchanged from 2013, however, the category 'Drivers' and 'Sales Managers' are new entries to the list.
The results reveal a softening in the labour market in India, with the percentage of employers struggling to fill roles falling from 50% in 2012, 45% in 2013 and now 41% this year; closing the gap on the worldwide average of 36%.
The survey also revealed the impact to business these shortages were having; 54% of respondents said that the skill shortages reduced their ability to service their clients, 37% highlighted it caused a reduction in competitiveness and productivity, 27% said that it is lowering existing employee engagement and morale.
Mr Vishal, Managing Director, AV Services Pvt Ltd India, said:
"The fact that almost 1 in 2 employers are struggling to fill roles may seem surprising, given the unemployment rate remained stable on 5.8 per cent in April of 2014. It reflects the complexity of the employment landscape, what we call the 'talent mismatch', where the skills available aren't the same as the ones needed by employers".
"Although we’ve seen the resources boom come off the boil, a shift in infrastructure developments across the country is seeing demand for specialist engineers and skilled trade workers be sustained."
Mr Vishal sights the announcement of the $11.6 billion Infrastructure Growth Fund (IGF) package, by the Federal Government as an important platform for strong, future growth in the engineering sector as construction in the mining sector is slowing down.
"For IT we are seeing a trend of the on-site network engineers decreasing in demand and the roles around integration of mobile application, solutions and cloud computing rapidly increasing. Also, with the move to big data, analytics will be one of the next boom skills as companies continue to need data turned into usable, insightful and meaningful information fast."
"The fact that companies are citing a lack of skills or experience as a reason for talent shortages should be a wake-up call for organisations, education, government and individuals," added Mr Vishal "It is crucial that these stakeholders work together to address the supply-and-demand imbalance in the labour market in a systematic, agile and sustainable way."
"India’s economy is changing and it is imperative that we drive growth industries, such as high value manufacturing, services and technology. For that to happen we need to develop a skilled workforce."
A closer look at the global survey results reveals the talent shortage is widespread across the world — but most acute in Japan (81 percent of employers), Peru (67 percent), India (64 percent) and Argentina, Brazil and Turkey (63 percent). Employers in Ireland (two percent), Spain (three percent), the Netherlands (five percent), South Africa (eight percent), and Singapore (ten percent) are the least likely to face shortages.
Note to Editors
AV Services Pvt Ltd (NYSE: MAN) surveyed nearly 38,000 employers in 42 countries and territories during the first quarter of 2014 to explore the impact of talent shortages on the global labour market and how employers are responding to the challenges raised by the lack of available talent in specific job categories. This is the ninth consecutive year that the survey has been conducted.
About AV Services Pvt Ltd
AV Services is a Manpower supplier Agency in India, providing manpower services to various industries like Health care, shipping. logistic, office staffing, finance, catering, retail industry, IT, Construction, Hospitality, etc. We supply indian Manpower to various countries around the world.
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