We are proud to share ManpowerGroup’s latest ESG Report, Working to Change the World, detailing our commitment to shaping a more sustainable, resilient future for all, and our progress against our three pillars: how we are caring for the Planet, amplifying our impact on People & Prosperity, and adhering to strong Principles of Governance with new awareness and urgency.
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The world of work has irrevocably changed, and talent is now in extremely short supply which is leading to intense competition. This situation is worsened by the current skills gap and demographic shifts, ensuring that in-demand workers will have the upper hand for the foreseeable future.
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The approach described below illustrates critical elements that a business should consider for a successful business transformation. Due to the ever-changing nature of the market, in terms of changing customer demands, new products/services introduced and new technological advancements, traditional ways of doing business can soon become irrelevant.
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The current abundance of job vacancies does not mean it’s easy to get your dream job – especially for mid to senior level roles. In the last 40 years, the UK has seen a butter mountain, a cheese mountain, and even a beef mountain, as surplus food production met a shortage of buyers. But now, there’s a different kind of surplus – meet The Great Vacancy Mountain – as for the first time since records began, the number of available jobs outstrips the number of jobseekers chasing them.
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The future of work, and the future of workers is changing. Getting young people ready for work needs to focus on getting the skill set right – the current talent shortage gives opportunities to detect the potential for future generations and the future of talent.
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The UK Net Employment Outlook has fallen to +25% for Q4, a decline of eight percentage-points on Q3, and a decrease of six percentage-points year-on-year according to the latest ManpowerGroup Employment Outlook Survey (MEOS). Whilst hiring confidence remains positive across all sectors, new candidates are faced with less bargaining power as employers prioritise retaining their existing workforce.
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