A global talent shortage threatens growth
If unaddressed, the global talent shortage could see 85 million jobs go unfilled over the next 12 years, according to a study.
And the shortage could amount to $11 trillion in unrealized revenue across the world, concluded Global Talent Crunch by consulting firm Korn Ferry.
“Right now, companies are feeling the pain, but they don’t feel it with the level of intensity that they should,” said Alan Guarino, vice-chairman of Korn Ferry’s CEO and board services in New York.
“Many CEOs are sleepwalking their way into a crisis. Unfortunately, until they feel the pain and the burning building, they may not give it the level of intensity it needs.
Developed markets will be hardest hit by talent shortages, with Australia, France, Germany, Japan and the United States facing the largest threat.