Why Demand for Skilled Talent Is Growing Across the World?

According to a recent study, by 2030, there will be a global human talent shortage of more than 85 million people. With rapid advances in technology, companies have increasing demands for skilled talent to perform a variety of newly created roles. Unfortunately, in an increasingly tight labour market, finding skilled talent is a challenge for employers worldwide and they can feel the pinch. Let’s take a look at the top reasons why the demand for skilled talent is growing across the world -

Shifting demographics

For some countries, low birth rates for decades imply that the talent pool keeps getting shorter every year. In other countries, the baby boomers or Generation X is on the verge of retiring and the younger generation might not have had the time or training to take many of the high-skilled jobs that get left behind. However, there are countries like India that aren’t expected to face a talent crunch. In fact, studies show that there might be a surplus of more than 1 million high-skilled Indian workers by 2030. A potential solution for shifting demographics would be recruiting professional and highly qualified Indian workers to meet the rising demand for skilled talent.

Increasing digitalisation

We live in a digital economy and as a result, most organisations worldwide engage in a battle for digital talent. They struggle to fill their digital jobs due to an acute shortage of skilled digital talent. Also, most of the existing digital talent prefers to work for tech giants and unless your company belongs to this category, your chances of finding skilled digital talent aren’t that great. According to a joint study

conducted by Capgemini and LinkedIn, India has the highest proportion of digital talent. Hiring highly skilled Indian workers by partnering up with an Indian manpower recruiting firm can help companies hire top talent, meet their talent demands and stay ahead of the competition.

Changing technologies

With advances in engineering, cloud computing and data processing, there has been a surge in new age professions such as cyber-security, data science, data engineering, machine learning, deep learning and artificial intelligence. To keep up with the technological advancements and maintain their competitive edge, companies are racing to find skilled talent with specialized skill sets. 

However, since a lot of these new technologies aren’t taught in traditional educational institutions, companies face a talent shortage as they cannot find talent with the right set of skills to successfully help them adopt and use these emerging technologies. As a potential solution, companies could take the onus of training their future employees themselves by investing heavily in excellent training and development programs. This will help them bridge the skills divide and meet their talent demands.

Hiring at a time where the demand for skilled talent trumps the supply, companies need to look beyond traditional recruiting and talent acquisition strategies to find, attract and hire top talent. Working with an established manpower recruiting firm such as International Manpower Resources Private Limited, New Delhi, India that excels in finding talent with specialized skill sets quickly will help you fill your critical vacancies and build a modern workforce that will supercharge your business.

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