Allegis Group Explores Challenges of Competing for Talent in “Global Workforce Trends Report”
Today’s trends underscore continuing hiring pressures amid a shrinking talent supply, rising demand and industry competition
Hanover, MD (June 29, 2017)—Allegis Group, the global leader in talent solutions, has released its “Global Workforce Trends Report,” offering a region-by-region breakdown of major economic and demographic trends influencing the supply of talent around the world. Accompanying these trends is expert insight on evolving talent acquisition practices and the changing markets for staffing, recruitment process outsourcing (RPO) and managed services provider (MSP) solutions around the world.
The Global Workforce Trends Report is available for download at www.AllegisGroup.com/Insights/Global-Trends.
“Workforce trends not only vary widely among regions, but they are enormously complex, and the pace of change is accelerating,” says Allegis Group’s Director of Labor Market Business Intelligence Ron Hetrick. “Today’s trends underscore the continuing pressures of shrinking talent supply, rising demand and industry competition. As employers look to the future, they see that traditional workforce management approaches may no longer fill the gaps.”
Notable trends in the report include:
- U.S.: The U.S. economy has been an effective job creator, and skilled workers remain scarce. The need for cost control and efficiency will consequently be part of an effective procurement and contingent workforce strategy. Other factors including talent quality and retention may combine to compel planners to increase wages more quickly in the future.
- U.K.: While Brexit is a potential disruptor to longer-term hiring initiatives, job vacancies are at record highs following the 2009 economic crisis with a shortage of skilled workers to fill them. The U.K’s mature market is conducive to the use of contingent workers, Indian offshoring and contingent RPO, but that maturity may also slow MSP and RPO growth compared to the rest of Europe.
- Primary Eurozone: France and Italy still experience unemployment rates of 10 percent or greater. The region is also experiencing a high level of retirements, expected to continue for the next several years, as well as a shortage of STEM workers and an overabundance of industrial or low-level office workers. Further, the rate of RPO growth is expected to be higher in Europe, and contingent RPO may contribute to that growth. A focus on flexibility will be important for companies navigating these markets.
- APAC: Japan represents the dangers that extreme labor tightness can put on GDP while India represents the opposite: a potential labor supply to help other nations struggling to find enough skilled workers. Improved training and access to workers across boundaries will become an economic necessity in the region. RPO and MSP markets also have room to grow in size and sophistication.
Based on its extensive experience and the research outlined in the Global Workforce Trends Report, Allegis Group holds that successful talent organizations will be those that apply a conscious approach to three critical areas:
- Expand the External Talent Supply: Smart organizations are adding flexibility to their job requirements, opening themselves to the people with the right skills regardless of worker types.
- Optimize Internal Talent: Beyond determining where to recruit and what type of worker to seek, successful companies are increasingly looking to internal talent as their best defense against worker shortages and changing skills demands, especially as talent scarcity becomes more acute. An employee-first approach applies active training and skills development to fill workforce needs.
- Commit to Change – Looking Beyond Transactional Results: An effective talent partner goes beyond filling roles and finding workers, applying strategy, expertise and technology to help clients navigate changing talent needs.
“As talent and business leaders look to the future, a strategic understanding of the forces of change is essential,” adds Hetrick. “This report is intended to help guide HR and business leaders looking to gain an informed perspective on dynamics shaping successful talent management strategies in a global market.”
About Allegis Group
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Allegis Group is the global leader in talent solutions focused on working harder and caring more than any other provider. We’ll go further to understand the needs of our people – our clients, our candidates and our employees – and to consistently deliver on our promise of an unsurpassed quality experience. That’s the Allegis Group difference, and it’s consistent across every Allegis Group company. With more than $11 billion in annual revenues and over 500 locations across the globe, our network provides businesses with a comprehensive suite of talent solutions — without sacrificing the niche expertise required to ensure a successful partnership. Our specialized group of companies includes: Aerotek; TEKsystems; Aston Carter; Allegis Global Solutions; Major, Lindsey & Africa; Allegis Partners; MarketSource; EASi; The Stamford Group; and GettingHired. Visit www.allegisgroup.com to learn more.