21Aug

Understanding the Global Talent Shortage Challenge

In Riyadh, Saudi Arabia, one of our esteemed clients, a leading construction company, faced a significant challenge. Despite offering competitive salaries and benefits, they struggled to find workers with the relevant skills to propel their projects forward. The issue wasn’t just about a shortage of workers; it was about the scarcity of workers with the right skills needed for modern construction projects. This challenge isn’t unique to their company. Across the globe, organizations grappled with a talent shortage that seemed to defy traditional solutions.

Talent shortage is a complex issue exacerbated by factors such as 𝑖𝑛𝑎𝑑𝑒𝑞𝑢𝑎𝑡𝑒 𝑒𝑑𝑢𝑐𝑎𝑡𝑖𝑜𝑛 𝑜𝑟 𝑡𝑟𝑎𝑖𝑛𝑖𝑛𝑔, 𝑙𝑖𝑚𝑖𝑡𝑒𝑑 𝑜𝑝𝑝𝑜𝑟𝑡𝑢𝑛𝑖𝑡𝑖𝑒𝑠 𝑓𝑜𝑟 𝑚𝑎𝑟𝑔𝑖𝑛𝑎𝑙𝑖𝑧𝑒𝑑 𝑐𝑜𝑚𝑚𝑢𝑛𝑖𝑡𝑖𝑒𝑠, and 𝑑𝑖𝑠𝑐𝑟𝑒𝑝𝑎𝑛𝑐𝑖𝑒𝑠 𝑏𝑒𝑡𝑤𝑒𝑒𝑛 𝑒𝑚𝑝𝑙𝑜𝑦𝑒𝑟 𝑒𝑥𝑝𝑒𝑐𝑡𝑎𝑡𝑖𝑜𝑛𝑠 and 𝑐𝑎𝑛𝑑𝑖𝑑𝑎𝑡𝑒 skills.

Reasons for Global Talent Shortage:

 Demographic Shifts:

Aging populations and low birth rates in many countries have led to a shrinking workforce, creating a gap between the number of available workers and the demand for skilled labor.

 Skills Mismatch:

The rapid technological advancements and evolving employer requirements have led to a gap between the skills possessed by job seekers and those required by employers.

 Geographic Mismatch:

Unequal distribution of talent across different regions also leads to challenges in finding qualified candidates, especially in areas with limited talent pools. The shift towards remote work has also increased this issue.

 Expectations Mismatch:

Cultural misalignment, salary, and benefits expectations also contribute to the talent shortage.

Understanding the Global Talent Shortage Challenge

Our experience of the past 𝟒𝟔 𝐲𝐞𝐚𝐫𝐬 in the Recruitment Industry has led us to argue that the real challenge lies in the 𝐒𝐤𝐢𝐥𝐥𝐬 𝐦𝐢𝐬𝐦𝐚𝐭𝐜𝐡. Rapid technological advancements left many job seekers with outdated skills, unable to meet the evolving demands of employers.

Rethinking Talent Acquisition to Overcome the Challenge

To address this challenge, we must prioritize 𝐓𝐚𝐥𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭. By investing in training and education programs, we can bridge the gap between available talent and the skills required by employers. This not only benefits businesses but also empowers individuals, especially those in underserved communities, by enhancing their employability and contributing to economic growth.

At Iqbal Manpower, we understand the challenges of the global talent shortage. As part of our business philosophy, the first principle of our “3R” approach is to find the “Right Man” for the job. In this competitive environment, where the demand from employers is high, we believe in conducting industry-driven training programs. These trainings ensure that talent gains hands-on experience and relevant skills before joining the job. This not only reduces the time and resource wastage for employers but also provides a sense of security for the resources themselves.

Join Iqbal Manpower in reimagining talent acquisition. Let’s focus not only on finding talent but also on nurturing and developing it. Together, we can build a more inclusive and skilled workforce for the future.

19Aug

Top 5 Recruitment Challenges and How to Overcome Them?

Recruitment is a basic process in any organization, with a direct relationship with the talent-driven for the organization’s success.   however, various challenges come in the way of a smooth and efficient recruiting system. Understanding these challenges and designing strategies to counter them is an essential part of successful recruitment for the organization. This article digs into the Top 5 Recruitment Challenges and How to Overcome Them.

 Recruiting the right candidates (resources)

Talent hunt is one the most crucial challenges in the recruitment process that attracts candidates well-suited for the organization.  market is full of competition where opportunities are waiting to hunt the right talent on the first chance. therefore, an efficient recruitment system requires an effective system to attract employees.

Solution:

  • Build a strong employer brand to attract qualified candidates
  • Create a positive brand image through effective campaigns on various platforms
  • Use platforms like social media, organizational website, and employee testimonials
  • SEO techniques to optimize the recruitment experience, stand out, and attract candidates
  • Use a clear job description that reflects responsibilities that are easy to match with the candidates

 Establishing an efficient recruiting system (resources)

Recruitment teams need faster communication and evaluation processes when it comes to candidates. They need to stay updated on every step of the way.

This requires an effective and fast communication strategy which is quite a challenge. This is highly influenced by the relationship between the hiring managers and the recruiters.

Moreover, various tasks take up a lot of time and resources that are fully invested in just one stage of recruitment, leaving recruiters with time constraints.

Solution:

  • Using recruitment data and metrics to enhance the recruitment process.
  • Using spreadsheets to manage time and track the hiring process
  • Tracking data and trends accurately is difficult
  • Create well-organized strategies for managing candidates’ data and other details

 Elaborate recruitment process

The recruitment process is lengthy and time-consuming. Unusually longer recruitment processes are prone to losing potential candidates in this excessively compatible market. this not only takes time but also consumes investment in terms of finance and resources, adding a burden to the workforce as well.

Solution:

  • Streamline the recruitment process
  • leverage technology like Tracking Systems to manage applicants
  • Set clear timelines for each stage to improve the recruitment process
  • Keep your candidates engaged throughout the process
  • Regular communication with the applicants keeps them interested in the organization

 Salaries and incentives

Recruitment can also be challenging if the organization does not have the right incentives and salaries to offer. There are two major aspects in the recruiting process; finding the right candidate, and keeping them interested in the offer.

Organizations often succeed in the former but fail in the latter aspect. There are two crucial points to ponder upon in this challenge; employee expectations and company budget, and secondly, benefits to attract and retain top candidates.

Solution:

Budget vs Employee Expectations

  • Clear communication over budget constraints
  • Highlight compensation expectations and other benefits or incentives
  • effectively managing employee expectations and preventing disappointments

Employee Benefits and Retention

  • Competitively offering compensation in areas like salaries, bonuses, etc.
  • Training, benefits, and allowances can also help make the employees feel secure and grow at the same time

 Employee engagement and retention

Employee turnover and optimal utilization of talent are two crucial challenges in recruitment. The hiring process is a tiring phase that requires extensive research, investment, resources, and finances, only to end up facing the challenge of talent retention in the organization.

There are two kinds of challenges that are faced in this aspect; employee retention and managing employee disengagement. The former refers in the literal sense where lack of growth, incentives, and recognition, as well as poor management and work-life balance, cause a decrease in employee turnover.

The latter is about handling the lack of interest and efforts on the employee’s end due to a disengaged attitude. Which can either be caused by the above reasons, or ineffective communication within the organization.

Solution:

  • Implementing onboarding process with comprehensive methods and regular feedback and check-ins
  • Offering benefits and incentives with competitive salaries, growth, and career development opportunities, as well as employee training
  • establishing clear paths for career progress along with fostering a healthy work environment
  • ensuring employee rewards and recognition for achievements offering a healthy work-life balance, and open, effective communication

Conclusion:

Organizations are faced with challenges every step of the way, where the challenge of talent hunt and retention are some of the most common issues every organization faces in the recruitment process. There are various kinds of challenges attached to this particular area. Keeping a systemized hiring process, maintaining records, engaging employees, and keeping them motivated will help to stay on top of the game. It is also important to ensure a competitive workforce that can effectively attract and keep candidates interested in the organization among the saturated market options.