Continuing Economic Uncertainty Exacerbates Talent Mismatches as Employers Seek High Specificity of Skills

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"American employers remain extremely cautious with their hiring plans, and those with open positions are willing to wait for the perfect match," said Jonas Prising, ManpowerGroup President of the Americas. "These employers are stretching their existing workforces until demand for goods and services increases. However, as demand improves, firms will not be able to be as selective, which will lead to an employability crisis when they cannot find the candidates they need among available workers."

Of the U.S. employers surveyed in ManpowerGroup's 2011 Talent Shortage Survey, 52 percent report difficulty in finding the right talent, up from 14 percent in 2010. This is the highest U.S. percentage reported in the annual survey's six-year history. With unemployment remaining high, there is an over-supply of available workers but an under-supply of skilled talent. The number of discouraged workers fell by 261,000 from the year prior, suggesting more job seekers are confident that they can find work.    

ManpowerGroup's new Fresh Perspectives Paper, "'Manufacturing' Talent for the Human Age," makes recommendations for how employers should tackle the scarcity of talent in the face of an abundance of available workers. Today, a holistic workforce strategy must account for external talent supply factors such as demographic shifts, the rise of emerging markets and rapidly evolving technology as well as internal demand.  

"As the economy continues to improve, employers will need to 'manufacture' the talent they need to drive business growth if they cannot find the skills they need in the marketplace," said Jeffrey A. Joerres, ManpowerGroup Chairman and CEO. "Employers who do not think long-term will be frustrated trying to manufacture talent on a just-in-time basis."

Later this month, ManpowerGroup will release its forward-looking Manpower Employment Outlook Survey of hiring intentions among nearly 64,000 employers across 39 countries and territories, including the U.S. The survey gauges whether employers intend to increase or decrease the number of employees in their workforce during the next quarter.  

About ManpowerGroup

ManpowerGroup™ (NYSE: MAN), the world leader in innovative workforce solutions, creates and delivers high-impact solutions that enable our clients to achieve their business goals and enhance their competitiveness. With over 60 years of experience, our $19 billion company creates unique time to value through a comprehensive suite of innovative solutions that help clients win in the Human Age. These solutions cover an entire range of talent-driven needs from recruitment and assessment, training and development, and career management, to outsourcing and workforce consulting. ManpowerGroup maintains the world's largest and industry-leading network of nearly 3,900 offices in over 80 countries and territories, generating a dynamic mix of an unmatched global footprint with valuable insight and local expertise to meet the needs of its 400,000 clients per year, across all industry sectors, small and medium-sized enterprises, local, multinational and global companies. By connecting our deep understanding of human potential to the ambitions of clients, ManpowerGroup helps the organizations and individuals we serve achieve more than they imagined – because their success leads to our success. And by creating these powerful connections, we create power that drives organizations forward, accelerates personal success and builds more sustainable communities. We help power the world of work. The ManpowerGroup suite of solutions is offered through ManpowerGroup™ Solutions, Manpower®, Experis™ and Right Management®. Learn more about how ManpowerGroup can help you win in the Human Age at www.manpowergroup.com.

In January 2011, at the World Economic Forum Annual Meeting in Davos, Switzerland, ManpowerGroup announced the world has entered the Human Age, where talent has replaced capital as the key competitive differentiator. Learn more about this new age at www.manpowergroup.com/humanage 

Follow ManpowerGroup Chairman and CEO Jeff Joerres on Twitter: twitter.com/manpowergroupjj.

SOURCE ManpowerGroup