Skills gap causing losses in productivity, revenue in top 10 world economies

China, Brazil, Russia most challenged
|hrreporter.com|Last Updated: 03/22/2013

The growing deficit of skilled labour needed to fill in-demand jobs is causing a drag on employers across the globe, according to a CareerBuilder survey.

A significant number of employers in the 10 largest world economies said 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 United States 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, found the survey of more than 6,000 hiring managers and HR 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, health care, 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.”

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 and development jobs in India, China and Japan. Filling production jobs is a bigger challenge in Brazil, Russia and Europe, found CareerBuilder.

Percentage of companies
with open positions they can’t fill

China

74%

Brazil

63%

Russia

57%

India

53%

Germany

31%

Japan

29%

U.S.

28%

France

26%

U.K.

23%

Italy

18%

Percentage of companies suffering from extended vacancies

Country

Loss of productivity

Loss of revenue

Inability to grow business

Brazil

39%

15%

19%

China

65%

26%

33%

France

21%

17%

24%

Germany

31%

24%

21%

India

32%

22%

21%

Italy

31%

19%

21%

Japan

30%

26%

25%

Russia

40%

29%

20%

U.K.

33%

16%

22%

U.S.

41%

21%

22%

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