Talent shortage is hitting European businesses hard
Skills and labour shortages have been identified repeatedly over the past couple of years as two of the biggest challenges facing business.
And now, fresh research from SD Worx has revealed just how acutely the talent drought is being felt across Europe.
France is the European nation where employers are being hit hardest, with around six in ten (61%) confessing they are facing a shortage of workers to get necessary work completed.
That proportion drops below 50% in Italy (49%), Germany (47%) and the UK (46%), but is still worryingly high.
“The gap between talent supply and demand is widening once again,” comments Rachel Clough, who heads up SD Worx’s operations in the UK. “Moving out of an economic downturn, as companies look to grow and expand it’s crucial to have the right workers on board and the right strategies in place to keep them.
“Today's workforces have high expectations for their workplace experience. They want greater control of their career development and expect to have access to the tech tools and upskilling opportunities that will support them along the way.”
Leaders must prioritise learning and development
In carrying out its research, SD Worx surveyed 16,000 businesses based in 16 nations across Europe.
The leading HR solutions provider discovered personal development is a key part of retention strategies and, positively, the majority (73%) of UK employers state they have technology in place for employee training, giving staff the tools they need to better their skillsets.
This makes the UK one of the highest-performing countries for learning and development technology availability, ahead of Germany (70%), France and Italy (both 68%).
And yet, despite this availability, there appears to be a distinct lag in course implementation and training uptake. For example, around four in ten (41%) UK employees say they have little or no time to take training courses at work.
This, in turn, is causing knock-on effects in terms of job readiness.
“Leaders that empower their workers through training and technology can ensure longer employee tenure and more positive engagement,” adds Clough. “Maintaining a competitive edge is dependent on a happy workforce.
“Employees know their worth and won’t hesitate to leave if the grass appears greener elsewhere. That’s why businesses need to work twice as hard to create a positive personal development culture within organisations, as well as arming staff with the tools and capacity to pursue training opportunities.”
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