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12 9 2010
»Deloitte Survey: Talent Shortage Looming

Despite high unemployment rates across many leading economies, finding good talent is the number one concern of business leaders, according to a new survey by Deloitte and Forbes Insights.

Based on feedback from 334 senior executives and talent managers at large companies throughout the world, 41 percent say finding top employees is their biggest challenge. The extent of the problem varies by geography, highlighting where leaders perceive the most prevalent talent shortage. In Europe/Middle East/Africa, the average share of those identifying recruiting as their biggest problem is 48 percent, the average across Asia-Pacific countries is 41 percent and just 35 percent in the Americas.

The “Talent Edge 2020” survey also found an alarming global consensus in the skill sets business executives anticipate will be lacking in future hires. For example, almost three in four (72 percent) expect at least a moderate shortage in R&D talent. A lack of talent with those skills could pose specific challenges to innovation-dependant industries, such as technology, media and telecom.

"During the recession, most executives were churning their business and talent strategies into survival mode, not success mode—this has to change or corporate growth and innovation will be severely challenged," says Jeff Schwartz, a principal in the human capital practice of Deloitte Consulting and global co-leader and U.S. leader for talent services. "This is where the talent paradox poses the biggest threat—not only are companies struggling to find the right skill sets to fill critical jobs, but they are worried about their ability to keep the talented workers they have. And, these are concerns worldwide—not just in a company's backyard. So, if companies are not thinking about talent and workforce issues in a global way, they are not thinking about them in the right way."
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