How to overcome the global talent shortage?

How to overcome the global talent shortage?
  1. Developing the potential of the future employee
  2. Migration strategy
  3. Flexible work arrangements
  4. Exploration of untapped talent resources
  5. Extending the use of talent resources

The key to success is to develop and implement a well-thought-out hiring strategy that will deal with declining candidate resources. It should take into account the company's business plan, long-term employee demand, and managing both the demand and supply of talent. It is advisable to also cover external factors such as new technologies, demographic changes and competition from other companies. A company that wants to produce something must first ensure the supply of raw materials. In the same way, every employer should secure adequate resources for employees before starting the execution of their business plans. Employment policy must be closely aligned with the company's overall strategy and cover more than just recruitment - it is one of the necessary conditions for development.

To create an effective employment strategy, activities are carried out that can be systematized in the form of three successive steps. The first should be for the employer to determine the present and future demand for employees in his company, taking into account influencing external factors (such as changes in business conditions or new technologies) and a thorough understanding of the company's development plan. The next step is to analyze the available human resources. A complete analysis of available human capital takes into account applicants from neighboring geographic areas, from a pool of university graduates and even from other countries. It also takes into account demographic factors that may affect the long-term supply of workers. During this step, you can discover both new opportunities for exploitation and unforeseen problems.

Developing the potential of the future employee

This is one of the most effective and popular actions used by employers in the face of talent shortages. Recruiting people with difficult-to-learn skills and intensive training in specific areas relevant to the employer is a great investment, resulting in valuable and loyal employees.

Migration strategy

Consists in looking for candidates in other locations than the company's headquarters. It may include the remote performance of the tasks entrusted to the employee. When there is a shortage of certain qualifications in the local market and too many of them in another, both the employer and the prospective employee will benefit from the migration of talent to where it is needed.

Flexible work arrangements

As the global economy is recovering from recession, it is becoming an increasingly popular option for many companies. The flexible employment strategy gives small businesses the opportunity to hire proven, best employees. Large companies, in turn, can dynamically adjust their staffing needs to changing needs.


That is, dividing the work performed into smaller and smaller stages and assigning their implementation to individual employees. This strategy allows companies to increase savings and employees to focus on what they do best. The result is better results and products. Hiring candidates who are relatively easy to find and pay for allows employers to make the most of their specialized and highly paid workforce. Breaking down your work into smaller pieces can turn a risky recruitment decision or two into much smaller but safe ones. Employees specialized in specific tasks give better results at lower costs.

Exploration of untapped talent resources

Targeting activities at often underestimated groups of employees, which are often women and young candidates without experience or with little professional experience. This action consists in creating a more flexible working environment that takes into account the needs of women, and makes the employer more attractive to half of the participants in the labor market. In turn, securing the inflow of young workers with lower financial expectations is a way to fill positions at a reasonable price. An additional advantage in the case of targeting activities to this group is the possibility of receiving an "injection" of fresh, innovative ideas for the company.

Extending the use of talent resources

Faced with a shortage of qualified staff, this action is to re-look at previously rejected candidates. It can greatly expand your opportunities for successful recruitment.

An effective strategy allows companies to "generate" the necessary talent resources at the right moment, and thus become independent of the randomness of expecting the right employees to come on their own. The employer gains an easy and quick way to adjust his human resources to the current demand and business conditions. When developing such a strategy, HR directors should consider specialized solutions to decide which ones best suit their needs, goals, and capabilities.

Rate this article
(0 ratings, average: 0 out of 5)