Skills Shortage Creating Problems for Employers

Posted: 2017-07-27 00:39:16

Whether it's the hours spent posting on job boards, pouring over CVs, vetting potential candidates or conducting interviews, the hiring process can be a stressful and resource-heavy endeavour. Couple this with the fact that Australia and the UK are currently in the midst of a skills shortage and, for brands, securing the perfect candidate can often feel like trying to find a needle in a haystack.

If this all sounds familiar to you, you're not alone – according to research from the Open University's latest Business Barometer, a huge 90% of the 300 SMEs and 100 larger businesses quizzed reported that they struggled to find a candidate with the necessary skills in the last 12 months.

One in five stated it was difficult to find senior managers (21%), while 19% had trouble with mid-level managers (19%). Moreover, 43% reported that the prospective candidates lacked the relevant skills needed for the role. But it's not just managerial positions that are proving challenging to fill; 47% cited a lack of IT skills in their prospective candidates, which comes in spite of the growing, nation-wide demand for IT specialists and other online aficionados.

As a consequence, the study found that for a third of respondents, filling vacancies was taking longer than before. The average waiting time was found to take nearly two months longer than expected, with the additional days amassing to one month and 24 days. This results in increasing hiring costs, recruitment and temporary staff fees – a sum projected to cost a huge £1.7 billion.

Your hiring process is a reflection of your business overall and can have a massive impact on attracting and retaining top talent. It is now more vital than ever to enlist the help of a professional recruiter to make the process as frictionless as possible. Brief Stopgap today and we can help you find the right candidate with the right skills faster!

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