Skills Gap Causing Losses in Productivity and Revenue in Top Ten World Economies, According to CareerBuilder Survey

    Skills Gap Causing Losses in Productivity and Revenue in Top Ten World
                 Economies, According to CareerBuilder Survey

PR Newswire

CHICAGO, March 20, 2013

CHICAGO, March 20, 2013 /PRNewswire/ --The growing deficit of skilled labor
needed to fill in-demand jobs is causing a drag on employers across the
globe. A significant number of employers in the ten largest world economies
said that extended job vacancies have resulted in lower revenue and
productivity and the inability to grow their businesses. Employers in China
were the most likely to report having open positions they cannot fill and
corresponding negative effects on their company performance. Russia houses
the largest percentage of employers reporting a revenue shortfall tied to
extended job vacancies while the U.S. is among those most likely to report a
productivity loss. Japan ranked high among those who said the inability to
find skilled talent has impeded expansion of their businesses.

Infographic: http://cb.com/ZVEkDf

The global CareerBuilder survey, conducted online by Harris Interactive^© from
November 1 to November 30, 2012, included more than 6,000 hiring managers and
human resource professionals in countries with the largest gross domestic
product.

"The inability to fill high skill jobs can have an adverse ripple effect,
hindering the creation of lower-skilled positions, company performance and
economic expansion," said Matt Ferguson, CEO of CareerBuilder. "Major world
economies are feeling the effects of this in technology, healthcare,
production and other key areas. The study underlines how critical it is for
the government, private sector and educational institutions to work together
to prepare and reskill workers for opportunities that can help move the needle
on employment and economic growth."

Percentage of companies that have open positions they can't fill
Employers in the BRIC countries (Brazil, Russia, India and China) were the
most likely to report challenges in recruiting high skill labor with more than
half of employers stating they currently have positions for which they can't
find qualified candidates. 

  oChina – 74 percent
  oBrazil – 63 percent
  oRussia – 57 percent
  oIndia – 53 percent
  oGermany – 31 percent
  oJapan – 29 percent
  oU.S. – 28 percent
  oFrance – 26 percent
  oU.K – 23 percent
  oItaly – 18 percent

The BRIC nations are also hiring at a more accelerated rate, containing the
highest percentages of employers planning to add full-time, permanent staff in
2013 (see CareerBuilder's Global Job Forecast).

Negative impact of positions that stay open too long
A large percentage of employers in the top ten economies stated their
companies have experienced negative implications from extended job vacancies,
citing less effective business performance, lower quality work, lower morale
and higher employee turnover. Following the BRIC nations, employers in Italy
and France were the most likely to report this.

  oChina – 81 percent
  oBrazil – 74 percent
  oRussia – 74 percent
  oIndia – 69 percent
  oItaly – 55 percent
  oFrance – 47 percent
  oU.K. – 41 percent
  oJapan – 40 percent
  oGermany – 39 percent
  oU.S. – 38 percent

Of employers who have felt a detrimental impact from extended vacancies, the
following reported suffering a loss in productivity and revenue and stagnant
business growth. 

Loss of Productivity

  oChina – 65 percent
  oU.S. – 41 percent
  oRussia – 40 percent
  oBrazil – 39 percent
  oU.K. – 33 percent
  oIndia – 32 percent
  oGermany – 31 percent
  oItaly – 31 percent
  oJapan – 30 percent
  oFrance – 21 percent

Loss of Revenue

  oRussia – 29 percent
  oChina – 26 percent
  oJapan – 26 percent
  oGermany – 24 percent
  oIndia – 22 percent
  oU.S. – 21 percent
  oItaly – 19 percent
  oFrance – 17 percent
  oU.K. – 16 percent
  oBrazil – 15 percent

Inability to grow their business

  oChina – 33 percent
  oJapan – 25 percent
  oFrance – 24 percent
  oU.S. – 22 percent
  oU.K. – 22 percent
  oIndia – 21 percent
  oGermany – 21 percent
  oItaly – 21 percent
  oRussia – 20 percent
  oBrazil – 19 percent

Hardest to fill positions for skilled labor
Not surprising, technical fields – namely Information Technology and
Engineering - dominated the areas where employers said they are having the
most difficulty recruiting skilled talent. There were notable challenges in
recruiting for high end sales positions in the U.S. and Europe, and recruiting
for Research & Development jobs in India, China and Japan. Filling Production
jobs is a bigger challenge in Brazil, Russia and Europe.

  oU.S. – Information Technology, Sales and Engineering
  oU.K. – Engineering, Information Technology and Customer Service
  oFrance – Production, Sales and Customer Service
  oGermany – Information Technology, Engineering and Sales
  oItaly – Production, Creative/Design and Sales
  oRussia – Engineering, Production and Information Technology
  oIndia – Research & Development, Information Technology and Marketing
  oChina – Research & Development, Creative/Design and Engineering
  oJapan – Engineering, Information Technology and Research & Development
  oBrazil – Information Technology, Production and Customer Service

Survey Methodology
This survey was conducted online within the U.S., Brazil, China, France,
Germany, India, Italy, Japan, Russia and the U.K. by Harris Interactive^© on
behalf of CareerBuilder among 400 to 2,611 hiring managers and human resource
professionals (employed full-time, not self-employed, non-government) in each
country between November 1 and November 30, 2012 (percentages for some
questions are based on a subset, based on their responses to certain
questions). With pure probability samples ranging from 400 to 2,611, one could
say with a 95 percent probability that the overall results have a sampling
error between +/- 4.9 and +/-1.92 percentage points. Sampling error for data
from sub-samples is higher and varies.

About CareerBuilder®
CareerBuilder is the global leader in human capital solutions, helping
companies target and attract their most important asset - their people. Its
online career site, CareerBuilder.com®, is the largest in the United States
with more than 24 million unique visitors, 1 million jobs and 50 million
resumes. CareerBuilder works with the world's top employers, providing
resources for everything from talent and compensation intelligence to
employment branding and recruitment support. More than 10,000 websites,
including 140 newspapers and broadband portals such as MSN and AOL, feature
CareerBuilder's proprietary job search technology on their career sites. Owned
by Gannett Co., Inc. (NYSE:GCI), Tribune Company and The McClatchy Company
(NYSE:MNI), CareerBuilder and its subsidiaries operate in the United States,
Europe, South America, Canada and Asia. For more information, visit
www.careerbuilder.com.

Media Contact
Jennifer Grasz
773-527-1164
Jennifer.Grasz@careerbuilder.com
http://www.twitter.com/CareerBuilderPR

SOURCE CareerBuilder

Website: http://www.careerbuilder.com
 
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