Welcome!

News Feed Item

Strong Talent Mismatch Intensifies Skills Shortage: Hays Global Skills Index

Tokyo, Nov 27, 2012 - (ACN Newswire) - Japan's economy faces an improving macroeconomic environment, but a lack of openness to immigration, combined with a strong talent mismatch means that employers may face an increasingly difficult time filling posts.

This is the main finding of a major new report published by recruiting experts Hays and produced in collaboration with Oxford Economics. The Hays Global Skills Index 2012 represents a unique and insightful barometer of the market dynamics and availability of professional skills in 27 key economies around the world.

Overall Japan scores 5.3 on the Index, compared to the average of 5.1. The Hays Global Skills Index creates a score for each country between 0 and 10 on the constraints and frictions being faced by its market for skilled labour. This is calculated through an analysis of seven components, covering areas such as education levels, labour market flexibility, and high-skill wage pressures.

The Index shows that each country surveyed faces specific issues in its skilled labour force. 16 of the 27 countries are currently suffering some degree of labour market tightness, despite the global economic slowdown - an economic paradox.

A score above the mid-point of 5.0 suggests that employers are witnessing difficulties finding the key skills they need and are suffering market friction, whilst a score below 5.0 indicates a lax labour market in which there are no major constraints on the supply of skilled labour. Within these overall scores, however, the scores attributed to each of the seven components can vary significantly, highlighting the different dynamics and pressures faced.

Japan's talent mismatch is 8.1 on the Index, which is one of the highest for any country in the survey. Therefore, Japan needs to recruit skilled staff from the international market who can operate on the global stage, according to the report.

"Until recently Japan was able to recruit the staff it needed locally and could favour Japanese speakers," says Christine Wright, Operations Director of Asia for Hays.

"The culture of a job for life was very strong and there was a natural progression of qualified staff rising up through the ranks. But this has now changed and employers need to look further afield for the talent they need, particularly in those sectors or businesses that are expanding internationally."

Japan, which is emerging from two decades of weak performance, has a rapidly ageing population, according to the report.

"That has the double negative effect of increasing the demand for healthcare workers for the elderly while simultaneously reducing the supply of new entrants into the workforce. The increase in structural and long-term unemployment has created a mismatch between the available workforce and the more innovative skills that employers want," says Christine.

"Also, in Japan more people are going overseas to study to secure skills required by local employers. Unfortunately it is almost five years too late because employers need the people coming through the system now."

To combat the mismatch of skills availability and demand around the world, the Hays report proposes a long-term three-point action plan for policymakers. First, governments should focus on the skills their economies lack and take appropriate measures to attract the relevant people through targeted immigration. This would in many cases require an overhaul of existing work visa arrangements. Second, employers should be offered fiscal incentives to increase their provision of relevant training. Third, governments should work with employers and educational authorities to implement a series of measures and incentives to persuade young people to acquire the skills that are most needed on both a country and international level.

Meanwhile, Japan scores 6.8 on the Index in terms of the fragility of the economy. The report says Japan's government finances remain weak, while its exports have deteriorated in recent years. Growth is expected to remain about two per cent for the next few years; while modest, this is above the recent historic average.

The economy is operating with a substantial margin of low output, giving Japan a score of 6.8 on the health of the economy. There is some evidence of rising inflation - for an economy prone to deflation, this is a positive development, according to the report.

To see the full Hays Global Skills Index and report, please go to www.hays-index.com/

Hays, the world's leading recruiting experts in qualified, professional and skilled people.

About Hays

Hays is the leading global specialist recruiting group. It is the expert at recruiting qualified, professional and skilled people worldwide.

Hays Specialist Recruitment Japan KK ("Hays") is the largest foreign recruitment company in Japan and operates across the private sector, dealing in permanent positions, contract roles and temporary assignments. Hays has been in Japan for more than a decade, and boasts a track record of success and growth.

Hays is the only foreign recruitment company in Japan to operate specialist business units composed of professionals with experience and expertise in the sectors they cover. Hays Japan's thirteen specialisms span Accountancy & Finance, Banking, Finance Technology, Human Resources, Hays Resource Management, Information Technology, Insurance, Legal, Life Sciences, Office Professionals, Property, Sales & Marketing and Supply Chain.

Hays is also the only foreign recruitment company in Japan to operate three local offices, serving the Kanto region from Akasaka and Shinjuku, and Kansai from central Osaka. Hays Japan is the local representative office for Hays plc, which is a global company with more than 7,800 staff operating from 245 offices across 33 countries.

Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Colombia, Chile, China, the Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the UK and the USA.

Source: Hays

Contact:
Keiko Asakura
Hays Japan
Marketing Manager
+81 3 3560 2813
[email protected]




Copyright 2012 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
"We view the cloud not really as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...