ManpowerGroup's research report on Talent Shortage 2020 revealed that more employers than ever – 54% reported talent shortages almost doubled as compared to a decade ago globally, and 63% in India. ManpowerGroup surveyed 14,000 individuals across 15 countries to understand what attracts them to an organization, what keeps them there and how that varies by geography, gender and at different stages of their career.
- Career Growth, Skill Development and Flexi timings are prominent attractions for Indian employees across all age groups.
- Millennial males regard skill development and females regard career enhancement as the top attraction.
- 91% of workers say they like their job, yet 70% of those workers are interested in finding a new one.
- 93% of Indian employees who are offered free training by their employers like their jobs.
- India, Australia, Mexico, UK and the U.S. have the most purpose-oriented workforce driven by brand and reputation
The global trends found in the study:
- 54% of companies reported Talent Shortage.
- 73% of workers say they like their jobs yet half of workers are interested in finding a new one even higher for millennials and Gen Zs at 60%.
- 81% of those who have been assessed report higher job satisfaction globally.
- 71% of workers globally claim that their boss knows what their main skills.
- Globally, almost two-thirds of organizations offer free training. India ranked highest of all the countries surveyed.
- Almost half of employers are using assessment data versus gut instinct to predict performance and potential
“Unlike their predecessors – the Gen Xers and the Baby Boomers, today’s workforce, the Millennials and Gen Zs want an engaging relationship rather than balancing two different worlds – Work and Life. They want their employers to be as flexible as fluid,” – said Mr. Sandeep Gulati, Managing Director of ManpowerGroup India. “The Millennials want to integrate and not just balance! With the ever evolving technology driving the pace of work, new skillsets are defining familiar looking in-demand roles. And the agile, success hungry Gen Z and millennial workers want to learn more, work more and run the career at an ultramarathon pace without compromising their commitments at home. And to integrate both, they want flexibility.
“To overcome talent shortage in the future, employers must put people first, invest in building and nurturing talent enabling individuals to reach their potential holistically. Rewarding productivity over presentism and driving a culture of learnability, providing assessment-based training programs will help employers attract and engage workers, retain in-demand and diverse talent and build a trusting relationship”, added Mr. Gulati.
The Talent Shortage 2020 report also states that top ten most in-demand roles in 2019 are trending year over year: 80% of them were also in short supply in 2018. Healthcare professionals remain in the top ten, reflecting an aging population.