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Hays Global Skills Index 2015

Welcome to the 2016 edition of the Hays Global Skills Index. For the 5th year Hays and Oxford Economics have collaborated to produce this report, highlighting the dynamics of the world’s skilled labour market. As a global recruiter we understand the challenges that face organisations as they look to build and grow their businesses.

Hays Global Skills Index 2016 -

In our fifth year of producing the Index, the need to address skills shortages is more critical than ever. Looking at 33 countries, the skills gap is fast becoming a skills chasm. As the world’s largest specialist recruiter, we feel it is our responsibility to continue to examine the global skills landscape and add our expertise and insight to the debate.

The global economy is recovering slowly, and there is an increasing demand for professionals. However, the gap between supply and demand for talent is global deteriorated for the fifth consecutive year, in Europe even by 14%. Organizations struggle with finding professionals who match the challenges they have, wage pressure increases and productivity and growth are under pressure.

Last year the labor shortage in the Netherlands was lower than the world average, this year however it’s higher than the average. According to the research, the deteriorating situation is above all a result of talent mismatch, increasing wage pressures, particularly in the high skilled industries, and the long-term unemployment.

A quick solution to the increasing challenge is not there, but we have made a number of recommendations. Simplifying of laws and regulations for highly skilled migrants and a flexible labor market will result in better access to professionals. Education and training on the job needs to be better suited to the future needs of industries. This includes not only to hard skills but also communication skills, negotiation skills and problem solving skills.

The rise of technology and robotisation are often seen as a threat to employment. However, smarter technology helps increase productivity and adds more value to a job. Technological innovation may also lead to new jobs and opportunities. When routine-work is taken over by robots, employees will be challenged to develop themselves and take the next step in their careers