A survey commissioned by the job portal CareerBuilder and conducted by Harris Interactive states that talent crunch is causing a drag on employers across the world and the situation is worse in emerging market economies, including India, where over half of the employers have positions for which they are not able to find qualified candidates. According to the survey, a significant number of employers in the 10 largest world economies said that extended job vacancies have resulted in lower revenues and productivity and the inability to grow their businesses. Employers in the BRIC countries (Brazil, Russia, India and China) were the most likely to report challenges in recruiting high skill labour with more than half of employers stating they currently have positions for which they can't find qualified candidates, the report said. According to the survey, 74 per cent of companies in China have open positions that they cannot fill, followed by Brazil at 63 per cent, Russia (57 per cent), India (53 per cent), Germany (31 per cent), Japan (29 per cent), the US (28 per cent), France (26 per cent), the UK (23 per cent) and Italy (16 per cent).
Source: The Economic Times