Ken Turbitt Blog
Aidan Lawes Blog
Paul Gostick Blog
Dr Jenny Dugmore Blog
Shirley Lacy Blog
Alim Ozcan Blog
Juan Jimenez Blog
Ian Clayton Blog
Nas Ozcan Blog
Aidan Mills Blog

Digital Health Technology Vision 2018
Health organizations are embracing intelligent technologies but must do more to prepare for societal impact...

Ten Strategic Technology Trends for Government
Technologies that enable new service models for digital government must be at the top of the list for government organizations as they prioritize technology investments...


The Robots are Coming: Are CEOs Ready for the Era of Automation?
CEOs agree that robotics is going to make their companies more efficient, with 94% of those who've already adopted robotics saying that it's increased productivity in their business...


The 2015 Chief Digital Officer Study
More companies are appointing a Chief Digital Officer to join their C-suite - but are they doing it quickly enough?...


18th Annual Global CEO Survey
The United States has overtaken China as top target for growth for the first time in five years...

5 October 2018 | ITSM
Send to a colleague | Add to MY ITP

Survey Finds Talent Shortage Considered A Top Risk Among Executives
A shrinking pool of qualified candidates surfaced as a top business risk for global executives in risk, audit, finance and compliance, according to a recent survey by Gartner...

In a time of historically low unemployment where the supply of available workers is much lower, organizations are struggling to find and retain the talent they need to meet their strategic objectives.

At No. 3, behind accelerating privacy regulation and cloud computing, this is the first time talent shortage was named a top business risk in Gartner’s quarterly Emerging Risks Report. Cloud computing, which was ranked the No. 1 risk in 2Q18, remains a concern. Cybersecurity disclosure and the artificial intelligence (AI)/robotics skills gap round out the top five concerns among executives surveyed.

“In this strong economic environment of significant business growth and record-low unemployment levels, the battle for talent is heating up as employees now have more bargaining power,” said Matthew Shinkman, practice leader at Gartner. “As a result, talent is harder to find and even more difficult to keep.”

In the U.S. alone, the number of unfilled jobs rose by 117,000 to 6.94 million from June to July 2018, based on the most recent Job Openings and Labor Turnover Survey. And in the U.K., the unemployment rate is now at its lowest level in four decades, according to the Office of National Statistics.

As business leaders feel the squeeze, the pressure on recruiters continues to intensify. In a Gartner survey of 400 executives on their level of satisfaction with their organization’s ability to attract and retain high-performing talent in the current environment, only 26 percent reported being very satisfied or satisfied. Digital transformation initiatives have only increased this pressure by creating immense competition for workers who are skilled at navigating the increasingly digital environment.

Moving From Needs-Driven to Market-Driven Sourcing

To mitigate the risk of talent shortage as competition for workers continues to rise, leading organizations are shifting how they source talent. Most recruiting professionals have a needs-driven approach to finding talent, setting the sourcing strategy to fulfill the defined needs of the organization. Instead, Gartner recommends a market-driven approach that ensures the sourcing strategy adapts to evolving external labor market realities and organization needs. This approach includes the following hallmarks:

1.     Confront brand weaknesses: Recognize (mis)perceptions that limit access to talent pools, and actively address them.

2.     Coach prospects’ career decisions: Understand prospective candidates’ decision-making process, and act as a career coach.

3.     Expand the labor market opportunity: Optimize the search criteria to redefine and expand the available talent pools.

4.     Cultivate critical talent supply: Reorient learning and development to close skill gaps that exist because of digital transformation.

“In today’s tight labor market, where employees have the upper hand, workers are more willing to look for a job with better pay, more generous benefits and defined career development opportunities — or all three,” says Brian Kropp, Gartner HR practice group vice president. “To retain your best employees, companies need to better understand what matters most to them and help them see how they can advance in their careers with their current company, especially if wage growth continues to remain stagnate.”

Gartner Email to a colleague | Add to MY ITP

terms & conditions