Act now while
supplies last

As talent scarcity grows to a 17-year high, businesses need to build supply chain resiliency and find a sustainable way to attract and retain the best consumer goods and services talent.

Impact on the consumer goods & services industry

The COVID-19 pandemic has had a significant impact on the consumer goods & services industry, with many businesses forced to close or operate at reduced capacity. Similarly, the increasing cost of living in the UK over the past three years has exerted pressure on consumer spending, leading to changes in purchasing patterns and hiring demand.

Global talent scarcity reaches historic high: Talent scarcity grew to a 17-year high with 76% of consumer goods & services employers say they are having difficulty finding the skilled talent they need – 2023 ManpowerGroup Talent Shortage Survey

The net UK hiring demand remains strong: The Net Employment Outlook, which measures employers intending to hire vs. those anticipating staff reductions, remains strong at +27% in Q1 2024. Despite growing economic uncertainty,
the UK Net Employment Outlook for Q1 increased by 8% vs. the previous year– Q1 2024 ManpowerGroup Employment Outlook Survey

Talent scarcity is the new normal: In developed markets, the combination of an ageing workforce and lower labour force participation rates will drive persistent talent scarcity. In 2030, there will be 13.5 million fewer workers in Europe vs. 2020 and similar trends are expected in many of the world’s most developed markets – McKinsey

Workforce implications:

Elevates the importance of continuously improving Employer Value Proposition (EVP) to recruit and retain the best talent
Innovative approaches needed to retain highly skilled but ageing workers
Increased urgency to upskill/reskill current employees.

TALENT SCARCITY GREW TO A 17-YEAR HIGH, WITH 76% OF CONSUMER GOODS & SERVICES EMPLOYERS SAYING THEY ARE HAVING DIFFICULTY FINDING THE SKILLED TALENT THEY NEED