Click here to close now.

Welcome!

News Feed Item

Skills Gap Causing Losses in Productivity and Revenue in Top Ten World Economies, According to CareerBuilder Survey

CHICAGO, March 20, 2013 /PRNewswire/ -- The growing deficit of skilled labor needed to fill in-demand jobs is causing a drag on employers across the globe.  A significant number of employers in the ten largest world economies said that extended job vacancies have resulted in lower revenue and productivity and the inability to grow their businesses.  Employers in China were the most likely to report having open positions they cannot fill and corresponding negative effects on their company performance.  Russia houses the largest percentage of employers reporting a revenue shortfall tied to extended job vacancies while the U.S. is among those most likely to report a productivity loss.  Japan ranked high among those who said the inability to find skilled talent has impeded expansion of their businesses.

Infographic:  http://cb.com/ZVEkDf

The global CareerBuilder survey, conducted online by Harris Interactive© from November 1 to November 30, 2012, included more than 6,000 hiring managers and human resource professionals in countries with the largest gross domestic product. 

"The inability to fill high skill jobs can have an adverse ripple effect, hindering the creation of lower-skilled positions, company performance and economic expansion," said Matt Ferguson, CEO of CareerBuilder.  "Major world economies are feeling the effects of this in technology, healthcare, production and other key areas.  The study underlines how critical it is for the government, private sector and educational institutions to work together to prepare and reskill workers for opportunities that can help move the needle on employment and economic growth."

Percentage of companies that have open positions they can't fill
Employers in the BRIC countries (Brazil, Russia, India and China) were the most likely to report challenges in recruiting high skill labor with more than half of employers stating they currently have positions for which they can't find qualified candidates.  

  • China – 74 percent
  • Brazil – 63 percent
  • Russia – 57 percent
  • India – 53 percent
  • Germany – 31 percent
  • Japan – 29 percent
  • U.S. – 28 percent
  • France – 26 percent
  • U.K – 23 percent
  • Italy – 18 percent

The BRIC nations are also hiring at a more accelerated rate, containing the highest percentages of employers planning to add full-time, permanent staff in 2013 (see CareerBuilder's Global Job Forecast).

Negative impact of positions that stay open too long
A large percentage of employers in the top ten economies stated their companies have experienced negative implications from extended job vacancies, citing less effective business performance, lower quality work, lower morale and higher employee turnover.  Following the BRIC nations, employers in Italy and France were the most likely to report this.

  • China – 81 percent
  • Brazil – 74 percent
  • Russia – 74 percent
  • India – 69 percent
  • Italy – 55 percent
  • France – 47 percent
  • U.K. – 41 percent
  • Japan – 40 percent
  • Germany – 39 percent
  • U.S. – 38 percent

Of employers who have felt a detrimental impact from extended vacancies, the following reported suffering a loss in productivity and revenue and stagnant business growth.        

Loss of Productivity

  • China – 65 percent
  • U.S. – 41 percent
  • Russia – 40 percent
  • Brazil – 39 percent
  • U.K. – 33 percent
  • India – 32 percent
  • Germany – 31 percent
  • Italy – 31 percent
  • Japan – 30 percent
  • France – 21 percent

Loss of Revenue

  • Russia – 29 percent
  • China – 26 percent
  • Japan – 26 percent
  • Germany – 24 percent
  • India – 22 percent
  • U.S. – 21 percent
  • Italy – 19 percent
  • France – 17 percent
  • U.K. – 16 percent
  • Brazil – 15 percent

Inability to grow their business

  • China – 33 percent
  • Japan – 25 percent
  • France – 24 percent
  • U.S. – 22 percent
  • U.K. – 22 percent
  • India – 21 percent
  • Germany – 21 percent
  • Italy – 21 percent
  • Russia – 20 percent
  • Brazil – 19 percent

Hardest to fill positions for skilled labor
Not surprising, technical fields – namely Information Technology and Engineering - dominated the areas where employers said they are having the most difficulty recruiting skilled talent.  There were notable challenges in recruiting for high end sales positions in the U.S. and Europe, and recruiting for Research & Development jobs in India, China and Japan.  Filling Production jobs is a bigger challenge in Brazil, Russia and Europe.

  • U.S. – Information Technology, Sales and Engineering
  • U.K. – Engineering, Information Technology and Customer Service
  • France – Production, Sales and Customer Service
  • Germany – Information Technology, Engineering and Sales
  • Italy – Production, Creative/Design and Sales
  • Russia – Engineering, Production and Information Technology
  • India – Research & Development, Information Technology and Marketing
  • China – Research & Development, Creative/Design and Engineering
  • Japan – Engineering, Information Technology and Research & Development
  • Brazil – Information Technology, Production and Customer Service

Survey Methodology
This survey was conducted online within the U.S., Brazil, China, France, Germany, India, Italy, Japan, Russia and the U.K. by Harris Interactive© on behalf of CareerBuilder among 400 to 2,611 hiring managers and human resource professionals (employed full-time, not self-employed, non-government) in each country between November 1 and November 30, 2012 (percentages for some questions are based on a subset, based on their responses to certain questions). With pure probability samples ranging from 400 to 2,611, one could say with a 95 percent probability that the overall results have a sampling error between +/- 4.9 and +/-1.92 percentage points.  Sampling error for data from sub-samples is higher and varies.

About CareerBuilder®
CareerBuilder is the global leader in human capital solutions, helping companies target and attract their most important asset - their people. Its online career site, CareerBuilder.com®, is the largest in the United States with more than 24 million unique visitors, 1 million jobs and 50 million resumes. CareerBuilder works with the world's top employers, providing resources for everything from talent and compensation intelligence to employment branding and recruitment support. More than 10,000 websites, including 140 newspapers and broadband portals such as MSN and AOL, feature CareerBuilder's proprietary job search technology on their career sites. Owned by Gannett Co., Inc. (NYSE:GCI), Tribune Company and The McClatchy Company (NYSE:MNI), CareerBuilder and its subsidiaries operate in the United States, Europe, South America, Canada and Asia. For more information, visit www.careerbuilder.com.

Media Contact
Jennifer Grasz
773-527-1164
[email protected] 
http://www.twitter.com/CareerBuilderPR

SOURCE CareerBuilder

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In the midst of the widespread popularity and adoption of cloud computing, it seems like everything is being offered “as a Service” these days: Infrastructure? Check. Platform? You bet. Software? Absolutely. Toaster? It’s only a matter of time. With service providers positioning vastly differing offerings under a generic “cloud” umbrella, it’s all too easy to get confused about what’s actually being offered. In his session at 16th Cloud Expo, Kevin Hazard, Director of Digital Content for SoftL...
Agile, which started in the development organization, has gradually expanded into other areas downstream - namely IT and Operations. Teams – then teams of teams – have streamlined processes, improved feedback loops and driven a much faster pace into IT departments which have had profound effects on the entire organization. In his session at DevOps Summit, Anders Wallgren, Chief Technology Officer of Electric Cloud, will discuss how DevOps and Continuous Delivery have emerged to help connect dev...
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, will explore the IoT cloud-based platform technologies drivi...
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at DevOps Summit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world...
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands. Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction. ...
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at th...
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of...
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
The cloud has transformed how we think about software quality. Instead of preventing failures, we must focus on automatic recovery from failure. In other words, resilience trumps traditional quality measures. Continuous delivery models further squeeze traditional notions of quality. Remember the venerable project management Iron Triangle? Among time, scope, and cost, you can only fix two or quality will suffer. Only in today's DevOps world, continuous testing, integration, and deployment upend...
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
To many people, IoT is a buzzword whose value is not understood. Many people think IoT is all about wearables and home automation. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed some incredible game-changing use cases and how they are transforming industries like agriculture, manufacturing, health care, and smart cities. He will discuss cool technologies like smart dust, robotics, smart labels, and much more. Prepare...
"We provide a web application framework for building really sophisticated web applications that run on a browser without any installation need so we get used for biotech, defense, and banking applications," noted Charles Kendrick, CTO and Chief Architect at Isomorphic Software, in this SYS-CON.tv interview at @DevOpsSummit (http://DevOpsSummit.SYS-CON.com), held June 9-11, 2015, at the Javits Center in New York
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...