This Week's Herman Trend Alert

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  The Herman Trend Alert

October 15, 2014

The War for Talent has Resumed---Once Again

Very recently, the recruiting consulting firm, Qualigence released a whitepaper*, bringing together survey data from a variety of current sources. This paper, titled "Talent Acquisition Forecast 2015" paints a challenging picture for employers worldwide, as economies continue to recover and hiring increases significantly.

With the worldwide competition for qualified talent at its highest peak since pre-recession hiring, employers across the globe will discover that their "time to hire" will typically increase and qualified, experienced workers will become increasingly difficult to find. According to the Manpower Employment Outlook Survey, employers will continue to hire throughout the fall and winter seasons of 2014. "Staffing levels are expected to increase in 37 of 42 countries and territories in the 4th quarter" and to continue into 2015.

However, the big challenge is that by 2015, 60 percent of the new jobs being created will require skills that only 20 percent of the population actually possesses. A recent report from the Association for Talent Development says that in 2015, a whopping 76 percent of all jobs in the United States will require highly skilled workers in science, technology, engineering, and math, the STEM areas. In addition, Georgetown's Center on Education and the Workforce estimates that the demand for college educated workers will surpass the supply by 300,000 a year. In other words, in 10 years, there will be 3 million fewer graduates than needed.

On top of that, across the board, organizations are struggling to find qualified talent to fill positions. According to Robert Half International, more than half (6 out of 10) business owners are having a difficult time finding candidates that have the necessary qualifications for their open positions. Managers are finding that posted jobs are not leading them to qualified candidates, according to the report.

As a result, the positions remain vacant and small businesses suffer---43 percent of small business owners said they have unfilled jobs---up from 39 percent in 2012. More than ever before in recent history, employers will find themselves challenged to find the qualified people they need. Wise employers will poll their top talent for non-financial incentives to offer.

Tune in next week, when we will cover the top unusual perks being offered worldwide to attract and retain talent.

*Read Qualigence's full whitepaper at http://qualigence.com/wp-content/uploads/2015-forecast-wp1.pdf


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