FIRMS are being hindered by skills shortages and a lack of talented recruits, it is claimed.
A poll by accountancy firm PricewaterhouseCoopers, showed that one in four chief executives believe the lack of the right talent has stopped them pursuing market opportunities. And one in three are concerned that skills shortages have affected innovation.
PwC asked almost 1,300 chief executives at firms in 60 countries about their priorities and how they are preparing for the future. Talent emerged as one of the biggest issues facing the boardroom.
PwC regional spokesman Craig Lunnon said: “CEOs are facing a ‘talent crunch’ – and it’s an issue keeping them awake at night. An inability to find and keep the right people is biting. CEOs say the lack of talent is stifling expansion and innovation.
“Companies are struggling to find and keep the right talent when there are more educated people than ever before and a worldwide talent pool is available to them.”
Chief executives across all industries said it had become more difficult to find the skills they need - even industries that have retrenched. Some 43% of those polled say it is now more difficult to hire workers in their industry.
Bosses are also looking at the gap that exists to replace the baby boomer generation over the next 10 and how best to prepare the next generation for that transition.
Only 30% of CEOs are ‘very confident’ that they will have access to the talent they need over the next three years.
And 78% of CEOs say they’ll make a change to their talent strategies.