Is The Future Of Work Afflicted By A Talent Crunch?

Robot apocalypse in the future of work is a prognostic thrown around by “experts” left and right. Turns out, that is a wrong proposition and by a long shot. Reports from Korn Ferry’s sweeping country-by-country analysis indicates that the biggest problem isn’t the one that prophesied all job vacancies in the coming years under an AI siege- it’s that there aren’t enough (skilled) humans to fill them. 

 

In a shocking revelation, the extensive study finds out that by 2030, there will be a global talent shortage of more than 85 million people (roughly equivalent to the population of Germany) which if left unchecked, could lead to 8.5 trillion dollars in unrealised annual revenues. As a result, the president of Korn Ferry’s Global Industrial Markets created an urgency for governments and organizations to prioritize their talent strategies to educate, train and up skill their existing workforce.

 

This looming and unsuspecting talent drought is far-reaching across industries and continents. In their “Future of Work” series, much of the shortage is based on demography, for instance- Japan and many European nations have had a low birth rate for decades and in other regions, younger generations will not have the time or training to take up many of the high-skilled jobs left behind. These calls for an immediate switch in organisations’ recruiting efforts that are more candidate-centric in the present to better prepare for the future.

 

Taking a leaf from the marketing playbook, the traditional hiring process needs to be replaced by recruitment marketing that continually entices the right job seekers and qualified candidates towards your doorstep. Instead of relying on mere job boards and career sites, bait the passive talent through a stream of irresistible content that nurtures your employer brand and plants a positive workplace culture in people’s minds. A good recruitment marketing strategy covers all grounds from effective content marketing on various channels to recruiting segmentation and personalisation.

 

To achieve more precise results, outsourcing the hiring process to a recruitment marketing agency will help you win the unprecedented war for talent. They make use of a more data-centric approach and turn it into actionable intelligence, devising the perfect recruitment strategy over time after carefully identifying your talent needs and candidate attractions.