Skilled Talent Search is difficult for 81% employers : Survey Report
The Manpower Group Employer Outlook Survey for the 1st quarter of 2024 finds the Net Employment Outlook in India the highest amongst 41 countries and remains stable when compared to the same time last quarter. However, the over 80% of employers report difficulty in finding skilled talent.
Skilled Talent Search is difficult for 81% of employers, Manpower Group Employer Outlook Survey revealed.
The secret to a successful firm providing high-quality services and goods is skilled talent. Is it simple for companies? Not at all. According to Manpower Group Employer Outlook 2024, 81% of companies say it is tough to recruit skilled people.
Employers in every industry express net positive hiring intentions; the best outlooks are in finance and real estate (+45%), followed by IT (+44) and consumer goods and services.
India has the best net employment forecast among 41 nations, according to the Manpower Group Employer Outlook Survey for the first quarter of 2024. This outlook is consistent when compared to the same period in the previous quarter.
“The survey reflects the evolving nature of work, wherein organizations are undergoing transformation, yet there is a dearth of IT talent possessing the necessary skills,” stated Sandeep Gulati, Managing Director of Manpower Group India and the Middle East.
“Employee well-being, hiring for skilled positions, and implementing AI and technology seem to be the top 3 priorities as organizations plan their strategic HR objectives for 2024,” Sandeep Gulati continued.
Sandeep Gulati continued, “But there are still issues with teaching employees how to use AI and identifying the roles that can benefit from this development.”
The Net Employment Outlook (NEO) for Q1 2024 is +37%, up 5% from Q1 2023, and the same when compared with the last quarter.
KEY FINDINGS FROM THE Q1, 2024 SURVEY
- Employers in every industry express net positive hiring intentions; the greatest outlooks are in finance and real estate (+45%), followed by IT (+44) and consumer goods and services. (+42%). For the first quarter, energy and utilities (+28%) had the least promising outlooks.
- With an outlook of +39%, the Western area of India leads in terms of job demand, followed by the North (+38%).
- Layoffs, high resignation rates, and silent resignations rank the lowest on the list of important factors influencing HR strategy for 2024.
TALENT SHORTAGE SURVEY KEY FINDINGS
- Employers report having trouble obtaining competent workers at 81%, up 1% from the study conducted in 2023. The industries most affected are transportation, logistics, the automotive sector (88%), and information technology (87%).
- Employers are increasing work flexibility (86%), searching for fresh talent (47%), and raising compensation (36%), in an effort to locate, attract, and recruit talent.
- IT and data, sales and marketing, engineering, operations and logistics, and human resources make up the top five most in-demand skill sets.
- Employers who question candidates about artificial intelligence (AI) mention that the biggest obstacles to fully utilizing the technology include finding candidates who are considering AI employment, training staff to use AI in their roles, and establishing tasks that can take advantage of AI.
In the first quarter of 2024, companies plan to begin hiring cautiously and strategically, according to the results of the most recent Manpower Group Employment Outlook Survey, which polled about 3100 employers from various industries and geographical areas. The study is based on survey replies that were collected during October 1–31, 2023.
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