Despite the positive outlook for jobs, PwC’s research, which surveyed over 1,300 CEOs in 68 countries, reveals that business leaders are more concerned about being able to find the right people to fill these roles. 63% of CEOs (an increase of 5% from 2013) say the availability of key skills is the biggest business threat to their organisation’s growth.
CEOs in Africa (96%), the South East Asian nations (90%) and South Africa (87%) are most concerned about the lack of skills. Technology and engineering firms are struggling the most with the shortage of skilled employees.
The growing skills gap and rising cost of labour in emerging markets is forcing organisations to look to new markets for talent. Many multinationals have already raided the pipeline of graduates and skilled young workers emerging from China and India, and there are signs that employees in these regions are beginning to favour domestic employers over their western rivals. Organisations are now widening their reach for new talent into Indonesia, Vietnam and the Philippines.