Article: Talent Shortage in Accounting, Finance & IT: ManpowerGroup India

#Updates

Talent Shortage in Accounting, Finance & IT: ManpowerGroup India

ManpowerGroup’s tenth annual Talent Shortage Survey, released today, has revealed that 58% of India employers report difficulties filling job vacancies due to talent shortages. This marks a year­over­year decrease of 6% as compared to 2014 (64%).

ManpowerGroup’s tenth annual Talent Shortage Survey, released today, has revealed that 58% of India employers report difficulties filling job vacancies due to talent shortages. This marks a year­over­year decrease of 6% as compared to 2014 (64%).

9% of India employers recognize that talent shortages are having a negative impact on their businesses, but few employers are putting in place talent strategies to address the problem. 35% of employers who are proactively tackling talent shortages, compared with 27% employers 12 months ago. 

Employers in India are having the most difficulty filling jobs in Accounting and Finance, IT Staff and Secretaries, PAs, Receptionists, Administrative assistants & Office support staff as compared to last year when IT Staff, Accounting and Finance staff and sales Managers were the most difficult positions to fill.

13% of India employers say talent shortages are having a serious negative impact on their ability to meet client needs. Consequences include reduced competitiveness / productivity (29%), increased employee turnover (17%) and low employee engagement / morale (14%). When asked why they are struggling to fill certain jobs, employers cite a lack of available and a lack of employability or “soft” skills.

A G Rao, Group Managing Director, ManpowerGroup India said: “The demand index for IT and accounting professionals have been on a continuous rise. Focus on technology up-gradation and better financial access will drive the sectors growth in the coming months. Further, in an attempt to provide financial services into rural areas as an initiative by Government of India and Reserve Bank, the demand is projected to grow across core and support functions.”

“The demand for IT and related profiles is expected to go up further in the current year. Roles in analytics and mobile technologies will continue to be in demand.  Amid speculations and apprehensions, people are hoping for burgeoning job opportunities across sectors. Professionals who have strong domain knowledge and hands-on experience are preferred. Big data, data analytics and SMAC (social media, mobile, analytics and cloud) are the buzzwords. With the growing digitization in business, IT employers have crafted a special role around social media collaborations”, added Mr. Rao.

Summary of Regional Results for India

The hardest jobs to fill in India are Accounting and Finance followed by IT staff. Employers in Japan (83%), Peru (68%) and Hong Kong (65%) are having the greatest difficulty finding talent, while Employers in Ireland (11%) report least difficulty with talent shortages. 14% of employers in three countries − Netherlands, Spain and the UK − report difficulties filling jobs.

Summary of Global Results

Hiring managers report the most severe talent shortage in Japan (83 percent). Around two in three  employers  report  difficulty  filling  jobs  in  both  Peru  (68  percent)  and  Hong  Kong  (65 percent), while talent shortages are an issue for 61 percent of employers in both Brazil and Romania.

Across all 42 countries and territories as a whole, employers report that Skilled Trades vacancies are the hardest to fill, as was the case in each of the previous three years. However, the second hardest job to fill has changed from 2014, with Sales Representative roles rising up the list from fourth, meaning that the Engineer category slips from second to third and the Technician category from third to fourth this year.

Employers report considerably more difficulty recruiting Drivers in 2015, with the category climbing the rankings from 10th to fifth, while the Production/Machine Operator category is new to the top 10 this year, climbing from 12th to 10th. Moving in the other direction, the Sales manager category slips out of the top 10 in 2015.ManpowerGroup’s tenth annual Talent Shortage Survey, released today, has revealed that 58% of India employers report difficulties filling job vacancies due to talent shortages. This marks a year­over­year decrease of 6% as compared to 2014 (64%).

 

9% of India employers recognize that talent shortages are having a negative impact on their businesses, but few employers are putting in place talent strategies to address the problem. 35% of employers who are proactively tackling talent shortages, compared with 27% employers 12 months ago. 

 

Employers in India are having the most difficulty filling jobs in Accounting and Finance, IT Staff and Secretaries, PAs, Receptionists, Administrative assistants & Office support staff as compared to last year when IT Staff, Accounting and Finance staff and sales Managers were the most difficult positions to fill.

 

13% of India employers say talent shortages are having a serious negative impact on their ability to meet client needs. Consequences include reduced competitiveness / productivity (29%), increased employee turnover (17%) and low employee engagement / morale (14%). When asked why they are struggling to fill certain jobs, employers cite a lack of available and a lack of employability or “soft” skills.

 

A G Rao, Group Managing Director, ManpowerGroup India said: “The demand index for IT and accounting professionals have been on a continuous rise. Focus on technology up-gradation and better financial access will drive the sectors growth in the coming months. Further, in an attempt to provide financial services into rural areas as an initiative by Government of India and Reserve Bank, the demand is projected to grow across core and support functions.”

 

“The demand for IT and related profiles is expected to go up further in the current year. Roles in analytics and mobile technologies will continue to be in demand.  Amid speculations and apprehensions, people are hoping for burgeoning job opportunities across sectors. Professionals who have strong domain knowledge and hands-on experience are preferred. Big data, data analytics and SMAC (social media, mobile, analytics and cloud) are the buzzwords. With the growing digitization in business, IT employers have crafted a special role around social media collaborations”, added Mr. Rao.

 

Summary of Regional Results for India

 

The hardest jobs to fill in India are Accounting and Finance followed by IT staff. Employers in Japan (83%), Peru (68%) and Hong Kong (65%) are having the greatest difficulty finding talent, while Employers in Ireland (11%) report least difficulty with talent shortages. 14% of employers in three countries − Netherlands, Spain and the UK − report difficulties filling jobs.

 

Summary of Global Results

 

Hiring managers report the most severe talent shortage in Japan (83 percent). Around two in three  employers  report  difficulty  filling  jobs  in  both  Peru  (68  percent)  and  Hong  Kong  (65 percent), while talent shortages are an issue for 61 percent of employers in both Brazil and Romania.

 

Across all 42 countries and territories as a whole, employers report that Skilled Trades vacancies are the hardest to fill, as was the case in each of the previous three years. However, the second hardest job to fill has changed from 2014, with Sales Representative roles rising up the list from fourth, meaning that the Engineer category slips from second to third and the Technician category from third to fourth this year.

 

Employers report considerably more difficulty recruiting Drivers in 2015, with the category climbing the rankings from 10th to fifth, while the Production/Machine Operator category is new to the top 10 this year, climbing from 12th to 10th. Moving in the other direction, the Sales manager category slips out of the top 10 in 2015.

Topics: #Updates, #Hiring, Talent Acquisition

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