HRO Today Global Spring 2014 - 23

Talent Acquisition
Figure 1
CONDITIONS THAT SLOW OR STALL THE HIRING PROCESS
in the next 12 months, and 57 per cent plan to increase
the number of contingent hires. These numbers show
robust hiring growth will continue across the globe
in the coming year-despite reported high levels of
unemployment.
Talent Shortages
In the industrialised world, 40 million workers are
unemployed according to the International Labour
Organisation-yet more than ever, companies are
suffering critical shortages of key talent across the
globe. A 2012 study from Oxford Economics shows the
imbalance of talent supply and demand across the globe
will deteriorate over the next 10 years due to shortages
in particular disciplines (e.g. so-called STEM jobs), as well
as regional imbalances of labour supply and demand. In
particular regions, severe talent shortages will define
the next decade. For example, in the developed Asian
economies, the demand for talent in the business services
sector will increase by more than 50 per cent, while
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HRO Today Global Spring 2014

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