At the time when top talent is the most valuable asset in the labor market hiring managers feel daunted by the increasing rate of the talent shortage. According to a survey conducted by ManpowerGroup of the total of 40,000 surveyed employers all over the world, 45 percent struggled to fill jobs. Skilled trades, sales reps engineers, technicians, IT experts, accounting and finance, office support, professionals, and manufacturing are the hardest jobs to fill according to the survey.
Large and midsized companies are those struggling to attract the skills that they need the most.
Why does this happen?
There are a few main reasons that lead to talent shortage including lack of hard/soft skills and previous experience, lack of applicants, higher pay and benefit expectations.
All these will continue to challenge companies and managers to find and keep talented employees.
The truth is that the days when more than 100 candidates used to apply for the same position are long gone. It seems that the table has turned and experts in talent acquisition are trying hard to attract the best talent that money can buy. Yet, this way does not guarantee that they will stay for a long time.
There are many things other than a paycheck that convince people to stay or leave a company, thus nothing is guaranteed.
Different companies apply various strategies to deal with this problem. Some focus on their recruiting practices while others go for a more flexible option such as outsourcing. The latter is considered as an optimal solution that comes with many other benefits. Highly-skilled employees are needed for vital roles. When such roles left vacant for a considerable amount of time, it may impact the company in different ways.
Experienced vendors all around the world provide the necessary talent. There are traditional and emerging outsourcing countries. They meet not only the talent expectations of the sellers but many other elements such as cultural affinity, time-zone considerations, safety issues and much more.
What advantages does outsourcing offer?
In terms of talent acquisition, outsourcing as a strategy makes possible that every company explores a large pool of talent depending on the sector where it is required. There are regions like Eastern Europe that at the same time offer great options for IT and software outsourcing as well as security. Poland, Bulgaria, and Albania are getting attention from major outsourcing service providers.
Therefore, a specific company can easily expand its talent at a reduced cost and maintain a strong company culture as it grows. The organizational culture is important because it defines the identity of a company both for its employees and customers. Moreover, it is crucial to keep a strong in-house team. Outsourcing offers a helping hand not only for finding the right people for vital or temporary roles but also for focusing on the people as the major asset for a successful and growing company.