MUMBAI: Employers across the globe are facing the acutest talent shortage since the recession, says a survey by HR consulting firm, ManpowerGroup. Of the over 42,000 employers surveyed globally, 40% are experiencing difficulties filling roles; the highest level since 2007, according to the Talent Shortage Survey. 48% of India employers report difficulties filling job vacancies due to talent shortages.
As skills need change rapidly, employers are looking inside their organizations for solutions, with 36% of Indian employers choosing to develop and train their own people. In the IT sector, businesses are reporting the most marked talent shortage in a number of years. Lack of soft skills (36%) and looking for more pay that what is offered (34%), are the top reasons that employers in India are not able to fill the positions, says a statement from ManpowerGroup.
AG Rao, group managing director of ManPowerGroup India said: “The demand index for IT and accounting professionals have been on a continuous rise. Focus on technology up-gradation and better financial access will drive the sectors growth in the coming months. Further, in an attempt to provide financial services into rural areas as an initiative by the government, and Reserve Bank, the demand is projected to grow across core and support functions. While banks struggle to keep up with increasing demand and traditional non-banking finance companies (NBFCs) are still in the process to learn the ways of the online business, in tech startups are one of the major breakouts today, and this could potentially define the shape of the financial services industry”.
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