Saturday, June 3, 2023

Eight out of ten companies have difficulty filling vacancies and fear for their business

Talent search is one of the main tasks for companies and a challenge that is becoming more and more acute. To the extent that many of them fear that they will not be able to fill some positions in the near future. Notably, eight out of ten companies today admit to facing this problem, with large companies being the most affected, according to the report Converging Paths: Talent prepared by KPMG and Princess of Girona in collaboration with San Young people facing the challenge and the companies Pablo CEU University Foundation and Enagás.

The document reinforces complaints that businesses have been making in recent months, as it shows that 75% of companies have difficulties hiring the talent they need. A percentage that rises to 84% in the case of large companies—with a turnover of more than 200 million euros—and is particularly high with 93% in technology companies.

Forecasts made by most 106 companies warn that the coverage of vacancies will not be resolved in the short and medium term. Furthermore, 76% of them consider it “forecast” that difficulties will increase in incorporating the required profiles in 2030. A problem that for almost eight out of ten respondents puts the stability of their business at risk.

“The report confirms the existence of a gap between the skills demanded by companies and the training with which young people enter the labor market. A problem recognized by 42% of organizations surveyed, a percentage that increased to 52%. This fact, apart from compromising the future prospects of our youth, slows down the growth of our country, at a time when it is necessary to promote the transformation of our economy towards a digital and sustainable model is”, says Juanjo Cano, President of KPMG in Spain. “The solution to this challenge involves greater collaboration between public administration, educational institutions, companies and civil society, which is essential to fostering the talents of our youth in an ever-changing environment.”

Lack of preparation

The fundamental problem that lies behind the difficulty in filling vacancies is the insufficient preparation of the new generations entering the labor market, as they are not in line with the needs demanded by the companies, as recognized by 42% of the organizations surveyed. Received. “We must find more and better job guidance policies and promote employability through vocational training,” said Francisco Belil, president of the Princess of Girona Foundation. “We have to fight against youth unemployment and the employment crisis, rethink our education system, strengthen its strengths and cover its gaps, and we have to listen to what companies need.”

The report warned that the talent gap is widening between artificial intelligence and machine learning experts (70%), cyber security experts (69%) and data scientists and analysts (66%), software developers and cloud applications (63%) and technology concentrated in. and digital transformation (60%).

As a solution to this situation, the report also proposes 25 initiatives built around five areas of action: transformation of the educational system with comprehensive long-term strategies; identification with a global view of the roles and competencies required; promoting scholarships and internships; promotion of spaces for collaboration between companies and educational institutions; and early professional guidance to help young people make decisions about their professional careers.

Nation World News Desk
Nation World News Desk
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