Skills Shortages Widening Across US
With increasing globalization and advancements in technology, US is always seen to be facing issues to find high-skill jobs that require higher degrees. A survey by TrueBlue, a provider of specialized workforce solutions, approves of this notion and also reveals that the situation is no different for low- skill or middle- skill employees.
According to their nationwide survey of 1,500 managers – which included HR, operational, and business managers – skills shortages are widening and a significant percentage of employers are struggling with deficits in middle-skill and low-skill workers. The survey reveals that 32% of managers find it difficult to get workers to fill low-skill positions, which include jobs that may or may not require a high school diploma or work experience.
Over 45% employees cannot find workers for middle-skill jobs that require some experience and certificate courses. Interestingly, the percent of employers that find it difficult to get workers for high-skill jobs is the lowest among the three at 35%. These high-skill jobs require a four-year degree or higher and some specialized experience.
According to Patrick Beharelle, CEO of TrueBlue, “The skills supply is not keeping up with demand, which is fueling a greater intensity in an already competitive labor market and adversely impacting productivity, service quality, and revenue growth for businesses.”
He also believes that low unemployment coupled with globalization, accelerated technology advancement, and evolving work models are creating talent deficits across all skill levels within organizations.
The prolonged job vacancies are not just affecting the quality of the work delivered, but also turnover and revenue. The survey reveals that one third of managers have reported lower product or service quality, one fourth have seen a higher employee turnover and 23% reported that their companies experienced a decline in revenue due to the vacancies.
To address this talent shortage and to minimize business impact 41% companies plan to raise compensation for entry-level workers.
Meeta develops credible content about various markets based on deep research, opinions from experts and inputs from industry leaders. As the managing editor at Smart Market News, she assures that every piece of news and article adds to the knowledge of decision makers. An avid bike rider, Meeta, is a postgraduate from Indian Institute of Journalism and New Media (IIJNM) Bangalore, where her specialization was Business Journalism. She carries experience from mainstream print media including The Times Group and Sakal Media Group.