UK Talent Shortages Hit Twelve-Year High as Employers Struggle to Keep Up with Candidate Demands
- 23% of UK employers are unable to find the talent they need – the worst shortage since 2008
- Large organisations hit hardest; 51% of firms with over 250 employees report hiring struggles
- The worst affected sectors in the UK: Skilled Trades, Healthcare and Accounting & Finance
The UK Talent Shortage has more than doubled since its lowest reported point in 2010 (9%), with almost a quarter of British businesses reporting talent shortages, according to the latest Talent Shortage Survey released today by ManpowerGroup. The worst affected organisations are those with over 250 employees, with over half (51%) of them reporting talent shortages. Conversely, small organisations fare much better in the war for skilled talent, with only 21% of businesses with less than ten employees reporting difficulty in filling roles.
Now in its 13th year, the survey of more than 1,000 employers across the UK found the sector with the most acute talent shortage remains Skilled Trades (electricians, welders, and mechanics). Healthcare professionals (doctors, nurses and other non-nursing health professionals) edges up from third hardest in 2018, to second in 2019; and, Accounting and Finance personnel (certified accountants, auditors and financial analysts) entering the top three hardest to fill roles for the first time.
ManpowerGroup UK Director, Chris Gray, says: “With growing talent shortages across the UK, it’s no longer a question of simply finding talent; we need to build it. Organisations need to be agile, and willing to stretch their candidate offering, increasing salaries isn’t enough of a differentiator anymore.”
“Although the UK is experiencing the worst Talent Shortage in over a decade, our market place is faring well compared to the rest of the world reporting shortages of 54%. This comes down to some key sectors findings new ways to combat Talent Shortages in recent years. For example, we’ve seen an increase in innovative solutions to address the drivers’ shortage. Although driving roles remain in the top ten hardest to fill, there have been some improvements as they slip from second in 2018 to ninth hardest to fill roles in this latest survey. Companies have an important role to become creators of talent by helping people learn new skills today for the jobs of tomorrow – to plug talent gaps before the emerge.”
Gray continues: “Whilst salary size remains a decisive factor for the attraction and retention of workers, demands for workplace flexibility continue to gain importance across all age demographics, as do businesses with a strong purpose. Candidates are seeking more meaningful work and to create ‘One Life’, the balance of work and home. Businesses must be agile in embracing these preferences to shore up access to the skills they need; embracing these preferences to help safeguard future talent pools.”
Closing the Skills Gap: What Workers Want reveals what attracts people to an organisation and what makes them stay so that businesses can find, build and keep the best talent. While what workers want varies at different stages of career cycles, the research finds autonomy over when and where work gets done, wellbeing to balance work and life and career mobility to build skills are top priorities alongside strong leadership and a commitment to purpose.
- Gen Z’s (18-24) preference is towards a strong employer brand. These workers are also looking for a good immediate boss and diversity of employees across the organisation.
- Money talks for Millennials (25-34) who view salary gains as the main reason to join or stay in an organisation. Followed by childcare subsidies and diversity of employees.
- Younger Xers (35-44) prize flexibility among their primary work requirements and the option to work either flexibly or remotely. They also value the opportunity to further their careers over pay.
- Those aged 45-54 list pay as their top priority when looking for a new role, followed by work that challenges them and flexible work practices.
- Baby boomers (55-64) are again seeking higher salaries when deciding on their next career steps. Followed closely by flexible hours and the ability to work from home being equal to an organisation that is purposeful.
- Individuals who are 65+ have a variety of preferences for entering and remaining in work, they seek work that challenges them and proximity to their home in order to find the right work life balance
When trying to attract talent, getting it right first time is crucial. What attracts workers to an organisation can also be what engages and makes them stay. To understand what workers want, employers should:
- Get creative about compensation
- Assess fit for potential
- Build a culture of Learnability
- Create flexibility that allows One Life
- Be more transparent about your Why – bring employees on the journey with you
For information on Closing the Skills Gap: What Workers Want and to find out how we can support you in closing your skills gap please visit www.manpowergroup.co.uk
For further information, please contact:
Savannah Dixon M: +44 (0) 7483397233 [email protected]
Oisin Prendergast M: +44 (0) 7483 401289 [email protected]
About This Report
As the leading workforce solutions company, ManpowerGroup finds sustainable employment for nearly 3 million people across the world every year. With the largest global footprint in the industry, we work with almost half a million companies in over 80 countries and territories. To find out What Workers Want, we surveyed 14,000 individuals across 15 countries to understand what attracts them to an organisation, what keeps them there and how that varies by geography, gender and at different stages of their career. This report combines our unique insight with 13 years of data from our global Talent Shortage Survey, the largest human capital study of its kind.
ManpowerGroup commissioned two-part research to understand attitudes towards work from individuals, and talent shortage challenges across organisations.
Infocorp carried out quantitative research with 24,419 employers across six industry sectors in 44 countries and territories: Argentina, Australia, Austria, Belgium, Brazil, Bulgaria, Canada, China, Colombia, Costa Rica, Czech Republic, Finland, France, Germany, Greece, Guatemala, Hong Kong, Hungary, India, Ireland, Israel, Italy, Japan, Mexico, Netherlands, New Zealand, Norway, Panama, Peru, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Taiwan, Turkey, UK and USA.
About ManpowerGroup
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions – creates substantially more value for candidates and clients across 80 countries and territories and has done so for over 70 years. In 2019, ManpowerGroup was named one of the World’s Most Ethical Companies for the tenth year and one of Fortune’s Most Admired Companies for the seventeenth year, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup is powering the future of work: www.manpowergroup.com
