Nearly 70% of employers worldwide are having a difficult time filling vacancies, according to employment-services provider ManpowerGroup Inc.
This marks a 15-year high for the second consecutive quarter, underscoring the notion that recruiting workers still remains a major obstacle for businesses, according to ManpowerGroup's of nearly 45,000 employers.
The industries with the hardest time filling role are manufacturing and finance. About 80% of organizations planning to hire in those sectors reported they had a hard time finding skilled talent, according to the survey.
To combat this struggle, about 67% of employers are giving up flexibility with work schedules and are more lenient with where the work gets done, according to the survey. About 41% invest in training, skills development and mentoring.
However, 15 markets across the world, including the U.S., have reported their highest hiring outlook since the survey began in 1962. The U.S. is, together with Canada and India, among the countries with some of the strongest hiring prospects.
U.S. employers, as well as those in Canada and Mexico have the strongest hiring intentions. All 12 industry sectors reported having hiring intentions at ten-year highs and plans to bring workers back following the pandemic.
This recovery is unlike any we've seen before with hiring intent picking up much faster than after the previous economic downturn, ManpowerGroup CEO Jonas Prising said.
Prising said the company is seeing sharp increases in hiring optimism as vaccine rollouts gain momentum and lockdown restrictions ease in many markets. However, fears surrounding the virus and the recent surge in cases impacted by the COVID - 19 delta variant have stifled hiring plans.
Some workers are hesitant to re-engage with employers as factors like health concerns and childcare challenges continue, Prising added.
As talent shortages continue, businesses will continue to prioritize training and recruiting workers with the skills needed to succeed as the economic recovery continues, he said.