Talent Scarcity

From Pledges to Progress Whoever Holds the Talent Holds the Future Shifting demographics including shrinking birth rates, reduced mobility across borders and the rise in early retirees means talent is scarce. Now is the time to get even more creative attracting, upskilling, reskilling and retaining valued workers. Source: ManpowerGroup Talent Shortage Survey 2021

^{Talent Scarcity | What Workers Want | Tech Accelerates | Companies Reset}

TREND #6

^{Talent Scarcity | What Workers Want | Tech Accelerates | Companies Reset}

SKILLS SCARCITY IS DRIVING EMPLOYER CREATIVITY

The skills revolution is in full force. Record talent shortages, rising wages and the race to reskill means labor markets are in flux.

Reskilling and upskilling will become non-negotiable for individuals and organizations as roles continue to require more skills than before, with both tech AND human capabilities most in demand.

Employers will become increasingly creative and master the art of flexibility – to attract, retain and upskill.

58% of all employees will need new skills to get their jobs done.

^{Source: Gartner}

Over 30% of companies plan to increase wages in order to attract and retain talent.

1 in 5 employers plan to offer more benefits such as additional vacation time.

^{Source: ManpowerGroup Employment Outlook Survey, Q4 2021}

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TREND #7

^{Talent Scarcity | What Workers Want | Tech Accelerates | Companies Reset}

THE END OF THE GENERATIONAL ERA

NO MORE BOOMER, MILLENNIALS OR GEN Z?

People of all ages will demand even more personalization and resent being boxed, labelled and pitched against one another.

Younger workers are set to swell the workforce and as inflation rises and savings dwindle, the pandemic-exiteers will likely return to drive the gig work boom across generational lines.

People under 35 will make up 75% of the workforce
by 2030.

^{Source: Deloitte}

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TREND #8

^{Talent Scarcity | What Workers Want | Tech Accelerates | Companies Reset}

FROM SHE-CESSION TO SHE-COVERY

Closing the gender gap has hit the brakes with women leaving the workforce at alarming rates.

Mass exoduses from sectors typically dominated by women - education, health and hospitality – coincide with growth in tech, logistics and sales where women are under-represented.

As women are increasingly getting more college degrees, producing more valedictorians and higher GPAs than men in STEM, it will be the employers who provide choice, flexibility and performance-over-presenteeism that will attract and keep the best and brightest, all while driving the skills and growth agenda.

51% of women are less optimistic about their career
prospects than before the pandemic, with 57% saying
they plan to leave their current job within two years.

^{Source: Deloitte Women @ Work Global Outlook 2021}

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TREND #9

^{Talent Scarcity | What Workers Want | Tech Accelerates | Companies Reset}

DIVERSITY, EQUITY, INCLUSION AND BELONGING PROGRESS, NOT PLEDGES

Continued polarization along lines of politics, race, identity and age means organizations will increasingly be asked to take positions on social issues.

All stakeholders – investors, regulators, customers and employees – will expect even more transparency around progress, not just pledges, and will be held to account.

Organizations will need to visibly action diversity, equity, inclusion and belonging so everyone is able to benefit from economic recovery, tech advancements and climate justice.

Over 30% of companies already deploy D&I training programs.

1 in 5 plan to deploy them over the next six months.

^{Source: ManpowerGroup Employment Outlook Survey, Q4 2021}

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TREND #10

^{Talent Scarcity | What Workers Want | Tech Accelerates | Companies Reset}

SENSE AND SENSIBILITY:
THE FUTURE OF WORK MUST WORK FOR FAMILIES

Rethinking the future of work needs to be as much about family and care as it is about tech, robotics and machine learning.

Employers who provide caregivers (across all genders) with choice-flexibility and performance over presenteeism-will attract and keep the best and brightest.

Nearly 1 in 4 workers are looking for employers who provide benefits such as parental and caregiving leave.

^{Source: ManpowerGroup What Makes Workers Thrive Survey, December 2021}

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