Today recruiters worldwide report that they often struggle to fill open positions. In the latest report from the Indeed Hiring Lab, we explore the root causes of this global talent mismatch—and what employers can do about it.
Employers find it hard to hire for many reasons, ranging from global competition for workers with specialised skills to changes in employee preferences. Here are ten facts and figures we found most striking—and that’s just the tip of the iceberg. Want to know more? Read the report to get the full story.
10 surprising facts about today’s global talent mismatch. Today, recruiters worldwide report that they often struggle to fill open positions. At Indeed’s Labour Market Outlook 2016, we explore the root causes of global talent mismatch – and what employers can do about it. 1. 38% of employers worldwide report that they are struggling to fill open positions. Source: ManpowerGroup 2. 35$ of millennials don’t have any work-related computer skills. Source: OECD 3. It’s hard to fill open positions in the UK, where 13% of job postings stay open for 60 days or longer. Source: Indeed 4. In China, by contrast, only 1% of posts stay open that long. Source: Indeed 5. When it comes to brain drain, Norway is at risk of losing the most talent. Source: Indeed 6. But Russia, despite sanctions and crashing oil prices, is best at keeping it. Source: Indeed 7. Job search is increasingly global. Today 8% of people are searching for jobs beyond their porders. Source: Indeed 8. Meanwhile the US is the #1 source of candidates coming to the UK – followed by interest from candidates in Ireland and India. Source: Indeed 9. Employment is up but wages are flat. Global wage growth from 2011 to 2014 was a mere .5%. Source OECD 10. And the pay gap is bigger – in the UK the average cashier earns just over 40% of the wage of the average Java developer. Source: Indeed For more valuable employer insights, visit indeed.com/hiringlab
Want to learn more about global talent mismatch? Here’s some additional reading:
- Why do 38% of employer worldwide report that they are struggling to hire?
- Millennials are the most educated generation in history, but they aren’t necessarily learning the skills employers need on the job.
- The talent market is becoming more competitive, which is why 13% of jobs in the UK are open for 60 days or longer. The paradox of tough hiring? It’s the sign of a stronger economy, which means we shouldn’t be looking with envy at China, for example, where only 1% of jobs are open for more than 60 days.
- The global war for talent also means brain drain for some and gain for others. In the EU, for example, candidates are extremely interested in moving to the UK over other EU15 countries.
- The prospect of a career abroad is tempting to many, and linguistic and historical ties have sway over where people choose to work. For instance: 10.7% of people located in a Commonwealth country search for jobs in another Commonwealth country, greater than the global average for job search across borders (8%).
- In a job seekers market, it will become increasingly important to listen to what candidates want. The desire for flexible working arrangements is a global trend that shows no signs of stopping.
- Wage stagnation is another global phenomenon that could be deterring workers. Compensation is the number one factor candidates say will attract them to a new job.
