41% of Employers Suffering Loss of Productivity Due to Difficulty Hiring for I.T., Sales, Engineering, Other Positions

Matt Ferguson, CEO of Careerbuilder

The growing deficit of skilled labor needed to fill in-demand jobs is causing a drag on employers across the globe. A significant number of employers in the ten largest world economies said that extended job vacancies have resulted in lower revenue and productivity and the inability to grow their businesses. Employers in China were the most likely to report having open positions they cannot fill and corresponding negative effects on their company performance. Russia houses the largest percentage of employers reporting a revenue shortfall tied to extended job vacancies while the U.S. is among those most likely to report a productivity loss. Japan ranked high among those who said the inability to find skilled talent has impeded expansion of their businesses.

The global CareerBuilder survey, conducted online by Harris Interactive^© from November 1 to November 30, 2012, included more than 6,000 hiring managers and human resource professionals in countries with the largest gross domestic product.

“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.” Continue Reading

Video: The Ultra-Flexible Hidden Corner of the Job Market

Plenty of people need jobs with very flexible hours — but it’s difficult for those people to connect with the employers who need them. In this Ted Talk, Wingham Rowan explains how the same technology that powers modern financial markets can help employers book workers for slivers of time.

Wingham is the Project Director of Slivers-of-Time Working, a U.K.-based, government-funded initiative that uses advanced (but easy-to-use) trading technology to help individuals who need to work on their own terms and at times of their choosing connect with employers who need their labor. Employers expanding their workforce in this new way include local authorities, housing associations, National Health Service Primary Care Trusts, retailers and caterers.

Rowan is the former producer and presenter of the UK’s longest running television series about the Internet, cyber.cafe, and the presenter of the children’s TV program Rowan’s Report. He’s is the author of two books about the social potential of online markets.

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Optimism By Employers: India Most and Italy Least

Matt Ferguson, CEO of Careerbuilder

A new job forecast for the 10 largest world economies tells a tale of both confidence and caution. Brazil and India are voicing the greatest confidence with more than two-thirds of employers in these markets planning to add full-time, permanent headcount in 2013. Italy is the least optimistic, housing more employers who expect to decrease staff than those who expect to hire.

“The job outlook presents varying degrees of growth and deceleration as governments and businesses strive to rebuild and expand and deal with large deficits,” said Matt Ferguson, CEO of CareerBuilder. “Hiring activity in the BRIC countries (Brazil, Russia, India and China) is projected to be significantly higher than other markets while recruitment in Europe remains sluggish as leaders struggle to resolve a debt crisis that has global implications. The overall hiring picture is improving, but companies will remain watchful as they navigate headwinds and maneuver through somewhat precarious economic terrain.” Continue Reading

Video Interview in U.K. Immediately After Keynote About U.S. Job Market for College Grads

Last week I had the good fortune to fly over to Leeds, England to keynote their annual Graduate Employment Conference. CEO of Graduates Yorkshire and Gradcore Martin Edmondson asked me to deliver a presentation about the U.S. job market for college and university students and recent graduates. Many of the issues we’re facing are similar to those they’re facing. They’re experiencing some of them before we do and we’re experiencing some before they do.

One issue that I knew was important but didn’t realize just how important it would be to them was the high cost of attending just about any type of post-secondary school. The cost of attending a higher education institution is far higher in the U.S. than it is in almost any other country and FAR higher than it is to attend an equivalent school in the United Kingdom. But their recent implementation of austerity measures threatens to put their schools on a similar path to that which our schools have long been on. Without exception, every attendee and organizer with whom I spoke greatly appreciated my urging that they do not follow our lead as we are making higher education impossible for many and soon, I fear, for most. As bad as that would have been decades ago, it is even worse moving forward as we cannot and should not hope to compete against other nations to see which can manufacture goods at the lowest possible cost. Unless we want our citizenry to again have third world standards of living, we need to ensure they have first world standards of work. And that means that we need a workforce which uses the muscles between their ears more than the muscles on their backs. Continue Reading