What does talent shortage mean?
Talent shortage is when companies all across the world are struggling to fill positions in several in-demand skill sets.
According to CXC Global, other factors impacting talent supply include:
- The digital landscape has raised the demand for skilled labour in certain job categories, whilst entry-level and low-skills jobs are increasingly automated
- Workers are retiring later (despite the boomer retiring numbers)
- There’s a lower uptake of Millennials entering the workforce than their generational predecessors
- Employers are finding applicants with adequate tech skills, but low-level people and life skills
- Conversely, employers are also finding candidates without adequate skills and training
- Millennials are now, officially, the largest generation in the labour force in the US, and the percentage of employees aged 65+ is growing, too.
Definition of talent
According to Merriam-Webster, talent is defined as a person of talent or a group of persons of talent in a field or activity.
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Last edited on 6 January 2022.