Years of reduced investment in training and development for UK professionals has led to nearly three in four businesses saying they are experiencing severe talent shortages, according to research carried out by specialist recruiter Robert Walters earlier this year.
This lack of training has resulted in decreased productivity for nearly one in five firms (18%) and a further 64% of employers say they are lacking candidates with the right technical knowledge.
The staggering figures also reveal that 43% of businesses are struggling to meet deadlines and client expectations as a result of these shortages, which in turn is taking its toll on staff morale. Nearly a quarter (24%) of employers report that morale has reduced as unfilled vacancies heap pressure on existing staff.
While over half (56%) of employers have struggled to recruit for some roles, less than a third (32%) say that there is actually a lack of candidates in the market, suggesting the problem lies in the need for training and development programmes to get available candidates qualified and equipped with the right skills.
Appointing interim or contract staff is the most popular strategy for managing talent shortages. 41% of employers saying they are doing this, with only a quarter (23%) recruiting from new talent pools and just 10% looking for new staff internationally.
Employers are also changing workplace policies to deal with the problem, with 42% up-skilling staff and 25% seeking to fast-track career progression opportunities for current personnel. And when staff do look to leave, nearly two thirds of businesses (65%) say they use counter-offers to retain staff.
Read the statistics in full at bit.ly/1f3DQsd