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Overcoming this challenge requires every
employer to become more agile, open and
flexible in the way they engage, select and
acquire talent. It requires an innovative approach
that knocks down traditional silos and transforms
talent strategy into a holistic, integrated model.
At a time of rising talent scarcity, human capital
leaders need to think differently about how
they will use talent to fulfill business mandates.
The C-suite is also demanding a clear and robust
workforce strategy to support their future growth
ambitions, but recognizes one of the most
pressing barriers is access to skills.
In Randstad Sourceright's 2017 Talent Trends
survey of more than 700 human capital and
C-suite leaders around the world, 69% say the
talent gap is widening and will create greater
challenges in the near future. Even more (73%)
report that talent acquisition is a top priority for
their executives.
As a result, many believe all available resources
should be considered; 74% say the right person
for a role may be an employee, contractor or
contingent worker from anywhere in the world.
These priorities are driving new investments and
greater flexibility. Companies that don't act will
fall further behind.
digitalization drives total talent
One of the most transformational forces across
all businesses is global digitalization. Whether
it's e-commerce, the human cloud or social
media, the rapid digitalization of consumer and
business-to-business processes means an equally
disruptive shift in the skills needed to stay current
with markets.
Most companies, however, lack the in-house
resources to execute on digital strategy, according
to the Technical University of Munich, whose
"Skills for Digital Transformation Research
Report 2017" finds that only 15% of executives
and managers are confident they have the skills
needed for digital transformation. The gap is
so disconcerting that the European Commission
has asked each of its member states to draft a
national digital skills strategy this year.
This gap will only worsen as more companies
accelerate digital transformation. According
to McKinsey, a survey of companies in
various industries around the world shows
that most believe digitalization has yet to
reach mainstream status in their sectors.
In fact, of 10 major industries studied, only the
media and entertainment sector reports wide
adoption of digitalization.
The skills gap isn't limited to digital roles. In the
U.S., a shortage of qualified workers is dragging
down business growth. According to the National
Federation of Independent Business, in the first
quarter of 2017, 45% of small businesses were
unable to source skills in nursing, construction,
automotive workers and industrial technicians,
among others.
The World Economic Forum reports that more
than three-quarters of the 13 million workers
entering the workforce each year in India are
not receiving the technical and vocational
training needed to prepare them for a changing
economy. And in Europe, the EU estimates that
by 2020, there will be more than 750,000 job
vacancies in the information and communication
technology sectors.
say the right person for a role may be an employee,
contractor or contingent worker from anywhere in the world
