Competitive Drivers

In a digital-first global economy, access to highly skilled talent is a distinct competitive advantage. And you need to meet that talent wherever they are—the marketplace for the best and brightest is truly borderless. Competing—and winning—is also about managing risk and building resiliency in the face of ongoing economic and geopolitical uncertainty.

TREND 13

Talent Knows No Borders

Skilled workers have always been highly sought-after, but today the demand is more acute than ever, with 75% of companies globally reporting difficulty recruiting—a 16-year high according to ManpowerGroup’s 2022 Talent Shortage Survey.

Everybody wants to hire local, but the reality is global. From the Americas to Asia, Africa to Europe, skilled talent is widely dispersed. And in many countries, the regulatory environment is employment-friendly, infrastructure is geared for remote work, labor costs are low and productivity is high.

In ManpowerGroup Talent Solutions’ Total Workforce Index™, the top three overall markets for skilled talent are the United States, Singapore, and Canada. (The Netherlands and Switzerland fell out of the top 10, mostly because of aging workforces and TWI’s reduction of education requirements.)

Organizations looking to separate from the pack turn to the Index to help them navigate change in real-time. This includes navigating new markets that will enable companies to compete for much-needed talent proactively and creatively, while still meeting business objectives. Companies need to become employers of choice, regardless of location, and factor in the needs most important to employees.

Dave McGonegal, VP, Talent Solutions Consulting

TREND 14

Risk and Resiliency in a Changing World

Risk and uncertainty will continue to impact business in the year ahead, driven by the Ukraine conflict, recession concerns, stubborn inflation, and supply chain disruptions.

The latter are gradually easing, but going forward we can expect more repositioning toward regional vs. global systems. Single suppliers and vertical supply chains are out—circular, networked, regional, resilient, and sustainable are in.

Those who are proactive in establishing supply chain resilience and vendor consolidation will mitigate uncertainty, manage risk, and better position themselves for future success.

One of the three most important strategies for growth is managing geopolitical risk.
90% of companies are planning to invest in onshoring or nearshoring manufacturing facilities as they seek to de-risk supply chains with alternative sourcing.
Turning data into meaningful insights is critical for human capital risk management. This includes the responsible integration of gig, freelance, and contract workers.