Talent shortage in the 21st century
One of the biggest problems the business world faces in the 21st century is talent deficiency. The technological enhancements (Gandhi, 2023) and the competitive job market (Junejo, 2024) have made it challenging for the employers to attract the right talent in the business world. The talent crisis could rise up to 85.2 million people by the end of 2030 which is an alarming number if correct measures and strategies have not been taken to mitigate the issue (Junejo, 2024). A survey done by the Manpower Group (2023) indicates that healthcare & life science industries are the most vulnerable for talent shortage followed by consumer goods & services, IT and Transport, Logistics & Automotive. The survey further highlights that an average 75% of the employers find it difficult to fill up roles a staggering 6% rise within the last 5 years. What are the reasons for talent shortage around the world? 1. Reduction in the working-age populations The working-age po...