Hiring Outlook Remains Optimistic for Q2 as Global Talent Shortage Hits 17-Year High
The latest ManpowerGroup (NYSE: MAN) Employment Outlook Survey reveals a positive hiring outlook for Q2 2023, with a seasonally adjusted net employment outlook of +23%, unchanged from Q1. Despite ongoing recession concerns, 77% of employers report difficulties in filling roles, citing IT, Engineering, and Sales & Marketing as the most challenging areas. Notably, employers in Panama (+41%) and Costa Rica (+38%) show the highest hiring intentions, while North America leads regions at +30%. The survey underscores the importance of upskilling as talent shortages reach a 17-year high. The next survey will be released in June 2023.
- Employers anticipate a hiring increase with a net employment outlook of +23%.
- Strongest hiring intentions are noted in Panama (+41%) and Costa Rica (+38%).
- North America shows optimistic hiring intentions at +30%.
- Focus on upskilling and reskilling is highlighted to address talent shortages.
- 77% of employers face challenges in filling roles, indicating a severe talent shortage.
- The most difficult roles to fill are in IT & Data, Engineering, and Sales & Marketing.
- Employers in all 41 countries anticipate a positive hiring Outlook in Q2, with 22 of 41 countries reporting higher intentions compared to last quarter.
- The most optimistic Outlooks are reported by employers in IT, Communication Services, and
Finance/Real Estate - Global talent shortages are at an all-time high:
77% of employers report difficultly in filling roles, with the most difficult roles to fill in IT & Data, Engineering, and Sales & Marketing.
Hiring intentions remain unchanged from last quarter at +
"Despite economic pressures, hiring Outlooks remain resilient and employers across every industry continue to look for in-demand roles," said
EMPLOYMENT OUTLOOK SURVEY KEY FINDINGS
- Employers around the world continue to anticipate hiring more workers in the second quarter, reporting a seasonally adjusted Net Employment Outlook of +
23% , which remains unchanged from Q1. - Overall, the strongest hiring intentions are among organizations in
Panama (+41% ),Costa Rica (+38% ) andGuatemala (+38% ); with employers inHungary (+2% ),Greece (+7% ) andPoland (+8% ) reporting the least optimistic Outlooks. - Among the world's largest economies, the US (+
30% ),France (+26% ), theUK (+21% ), andGermany (+19% ) all report positive hiring Outlooks in the coming months. - Regionally, organizations in
North America report the strongest hiring intentions (+30% ), followed by South andCentral Americas (+27% ), andAsia Pacific (+27% ); while the weakest hiring intentions, although steady, are inEurope ,Middle East , andAfrica (+18% ). - When compared with the previous quarter, Outlooks improved in 22 countries, with the biggest quarter-over-quarter changes in
Europe — particularly in theCzech Republic (+14% ),Norway (+10% ), andthe Netherlands (+10% ). - Employers in IT (+
34% ), Communication Services (+30% ), and Financials & Real Estate (+29% ) report the most optimistic hiring Outlooks, with those in Health Care & Life Sciences (+25% ), Industrials & Materials (+21% ), and Consumer Goods & Services (+18% ) reporting the lowest.
TALENT SHORTAGE SURVEY KEY FINDINGS
- Nearly 4 in 5 (
77% ) of employers globally report difficulty finding the talent they need, rising2% year-over-year and more than double the difficulty in 2015 (38% ). - Employers in Communication Services (
79% ), Energy & Utilities (79% ), Health Care &
Life Sciences (78% ), and IT (78% ) report the greatest difficulty finding the talent they need. - Employers in
Asia Pacific (82% ) andNorth America (79% ) report the biggest challenges filling roles, followed byEurope ,Middle East andAfrica (77% ), and Central andSouth America (72% ). Taiwan (90% ),Germany (86% ), andHong Kong (85% ) are among the countries facing the highest talent shortages.- Employers report the top five in-demand technical skills are IT & Data, Engineering, Sales & Marketing, Operations & Logistics, and Customer Facing & Front Office.
- Reliability & Self-Discipline, Resilience & Adaptability, Critical Thinking & Analysis, Creativity & Originality, and Reasoning & Problem-Solving are the top five in-demand soft skills.
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