June 2015
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Battling the Global Skills Gap

Tuesday, June 9, 2015

According to a new report from PricewaterhouseCoopers (PwC), the growing global skills gap is changing the way organizations hire new employees. Approximately 75 percent of 1,322 CEOs across 77 countries ranked the skills shortage as the biggest threat to their business, a 10 percentage point jump from 2014. And the skills gap is growing during a time of global economic growth. "Even as new workplace models are being explored and created, close to three in four Indian CEOs are planning to increase headcount in the coming year,” said Padmaja Alaganandan, the people and change consulting leader for PwC India. “A large number are also looking to partner with the government to develop a skilled workforce and there is clearly a lot of focus on capability building as a key requisite of continued growth." Another way organizations are looking to solve the issue is by using contingent workers, part-time employees, and outsourcing to other locations. This allows companies to pull from a wider mix of skill sets and search for talent in different geographic locations or demographic segments.

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