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Sixty four per cent of CEOs interviewed by PricewaterhouseCoopers are concerned that they won’t be able to find people with the skills needed to fill positions over the coming year.
The business growth expected as the global economy improves has lead 20% of more than 1,300 CEOs in 68 countries plan to increase their headcount by more than 8% in the next year. The same proportion expect to grow employee numbers by up to 8%, and a quarter plan to hire up to 5% of their current workforce.
UK business leaders particularly concerned about the availability of key skills – more so than any of their Western European counterparts, rating it as the biggest business threat to their growth plans. Technology and engineering firms report the most chronic shortage of skilled employees.
Rising labour costs in high growth markets and signs of skilled young workers in China and India starting to favour domestic employers is leading organisations to look to Indonesia, Vietnam and the Philippines for new talent.
“With two thirds of UK CEOs planning to hire more people in the next 12 months competition for talent will be intense,” said Jon Andrews, HR consulting leader at PwC. “People with tech-based skills, such as cloud computing, mobile technology and data analytics, will be in strong demand but this is also the area with the biggest skills shortage.
“Business leaders are looking for people with a far wider range of skills than ever before. Gone are the days of lifetime careers; chameleon-like employees who apply their skills whenever and wherever they’re needed are now in high demand.”
Two thirds of UK CEOs say creating a skilled workforce should be the joint top priority for the government (alongside ensuring financial sector stability and access to affordable capital). However, only 7% of UK business leaders believe the government has been effective at achieving this.
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