96% Employers in Asia Believe Skill Shortages Can Impact their Business

March 30, 20167:59 am1314 views

A massive 96 percent of employers in Asia believe skills shortages have the potential to impact effective operation of their business or department this year. A further 34 percent believe they don’t have the talent they need right now to meet current business objectives, according to findings in the 2016 Hays Asia Salary Guide.

This survey on more than 3,000 employers, representing over six million employees, found that the most difficult professionals to recruit in the current market are accountancy and finance candidates to fill both entry to middle management roles and middle management roles. Sales professionals at both these levels are almost as hard to find.

Sourcing the right middle management, engineering, IT, marketing, operations and HR talent is also a challenge.

In skill short areas, 65 percent of employers would consider employing or sponsoring a qualified expatriate/overseas candidate.

Other actions considered to counter areas of skills shortage including up skilling existing staff (49 percent) and improving attraction strategies (41 percent).

See: Employers in Asia Should Redefine Talent to Bridge the Skills Gap

“We know from the findings of the 2016 Hays Asia Salary Guide that many candidates across Asia have itchy feet so employers will need to take action to keep hard-to-replace talent, as well as develop stronger attraction strategies to maintain a pipeline in areas of shortage,” says Christine Wright, Managing Director of Hays in Asia.

“Our survey reveals 44 percent of candidates are already actively looking for a job while a further 42 percent are open to hearing about a new opportunity.”

Having the right people in place is critical to navigating economic conditions in 2016 especially for the 60 percent of employers who are expecting an increased level of business activity this year.

“For Singapore’s job seekers, doing your research is critical to securing a job that offers the opportunity to develop new skills and grow professionally. Salary is important but as the findings show many employers are taking a cautious approach to remuneration in 2016, making it critical for candidates to not only manage their salary expectations but also to look for other benefits that will add to their personal bottom line over the long term,” Christine added.

Also read: Asia Pacific Hiring Outlook for 2016: Noteworthy Facts for Employers

Image credit: crooksandliars.com

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