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The growing deficit of skilled labor needed to fill in-demand jobs hinders employers worldwide, according to survey results released by CareerBuilder. Employers in the world’s 10 largest economies said that extended job vacancies yielded lower revenue and productivity and the inability to grow their businesses.
Employers in Brazil, Russia, India and China reported the most challenges in recruiting high skill labor, with more than half of employers stating they currently have positions for which they can't find qualified candidates. China led the contingent, with 74 percent companies reporting open positions they can't fill. Russia counts the largest percentage of employers reporting a revenue shortfall tied to extended job vacancies, while the United States is among those most likely to report a productivity loss.
“The inability to fill high skill jobs can have an adverse ripple effect, hindering the creation of lower-skilled positions, company performance and economic expansion,” said Matt Ferguson, CEO of CareerBuilder. “Major world economies are feeling the effects of this in technology, healthcare, production and other key areas. The study underlines how critical it is for the government, private sector and educational institutions to work together to prepare and reskill workers for opportunities that can help move the needle on employment and economic growth.”
Results for U.S. companies included:
- Percentage of companies that have open positions they can't fill: 28 percent
- Negative impact of positions that stay open too long: 38 percent
- Loss of productivity: 41 percent
- Loss of revenue: 21 percent
- Inability to grow their business: 22 percent
- Hardest to fill positions for skilled labor: Information technology, sales and engineering
Careerbuilder’s survey was conducted online within the United States, Brazil, China, France, Germany, India, Italy, Japan, Russia and the U.K. by Harris Interactive among 6,000 hiring managers and human resource professionals between Nov.1 and Nov. 30, 2012.