UK EN Q2 2023 MEOS Talent Shortage

Organisations in the IT industry report the most optimistic Outlook (+34%); followed by Industrials & Materials (+25%), and Transport, Logistics &...

MEOS | 2023 <big><big><big><big><big><big>Q2

<big><big><big><big>UK Talent Shortage

Executive Summary

UK Talent Scarcity

Explore the Data

Employers who say they are
struggling to find talent with the
skills they need.

Increased to 80%,
reaching a 17-year high

Highest UK Hiring Demand

Energy & Utilities

Healthcare &
Life Sciences

Other / None
of the Above*

<img src=https://4674640.fs1.hubspotusercontent-na1.net/hubfs/4674640/Icons/icon1P-150.png> UK Talent Shortages Reach 17-Year-High

UK Talent Shortages Reach 17-Year-High

4 in 5 employers globally report difficulty finding the talent they need in 2023, strengthening +2 percentage points year-over-year and more than five times the difficulty in 2015 (14%).

Bigger Companies, Bigger Challenges

Shifting demographics, including shrinking birth rates and the rise in early retirees, means talent is more scarce than ever before.

Talent Shortages Across Sectors

From Communication Services to Energy & Utilities, employers are struggling to find the skilled talent they need.

*Government or Public Service; Not for Profit/NGO/Charity/Religious organisation; Other industry; Other Transport, Logistics & Automotive Sub-Industry; Educational Institutions; Agriculture & Fishing

Talent Shortages Around The World

Employers in the UK report talent shortages three percentage-points above the global average of 77%

*Government or Public Service; Not for Profit/NGO/Charity/Religious organization; Other Industry; Other Transport, Logistics & Automobiles Sub-Industry; Educational Institutions; Agriculture & Fishing

Top Five In-Demand Technical Skills

Whoever holds the talent holds the future. These are the most sought-after hard skills by employers in the UK.

Top Five In-Demand Soft Skills

As every aspect of life becomes more tech enabled, human strengths stand out in the digital age.

<img src=https://4674640.fs1.hubspotusercontent-na1.net/hubfs/4674640/Icons/icon3P-150.png> About the ManpowerGroup Employment Outlook Survey

Consumer Goods & Services

Demand for talent outpaces supply where 76% of organisations report difficulty finding the talent they need.

Despite the talent shortage, employers in the UK anticipate a Net Employment Outlook of +22%, strengthening three percentage-points on last quarter but weakening -10% when compared to this time last year.

*The 2023 UK Talent Shortage, ManpowerGroup

Energy & Utilities

Demand for talent in the surpasses supply where 88% of organisations report difficulty finding the talent they need.

Despite the talent shortage, UK employers anticipate a Net Employment Outlook of +20%, weakening one percentage-point on last quarter.

*The 2023 UK Talent Shortage, ManpowerGroup

Financials & Real Estate

Demand for talent exceeds supply where 80% of organisations report difficulty finding the talent they need.

Despite the talent shortage, employers globally anticipate a Net Employment Outlook of +27%, strengthening nine percentage-points compared with last quarter, but decreasing eight percentage-points compared with the same time last year.

*The 2023 UK Talent Shortage, ManpowerGroup

Communication Services

Demand for talent has eclipsed supply where 65% of organisations report difficulty finding the talent they need.

Despite the talent shortage, employers globally anticipate a Net Employment Outlook of +36%, improving 18 percentage-points since the previous quarter but weakening by 21 percentage-points when compared to the same time last year.

*The 2023 UK Talent Shortage, ManpowerGroup

Industrials & Materials

Demand for talent outweighs supply where 79% of organisations report difficulty finding the talent they need.

Despite the talent shortage, employers globally anticipate a Net Employment Outlook of +22%, level with last quarter but weakening -16% when compared to this time last year.

*The 2023 UK Talent Shortage, ManpowerGroup

Transport, Logistics & Automotive

Demand for talent in the surpasses supply where 81% of organisations report difficulty finding the talent they need.

Despite the talent shortage, employers globally anticipate a Net Employment Outlook of +27%, improving since the previous quarter and year-on-year by three and four percentage-points respectively.

*The 2023 UK Talent Shortage, ManpowerGroup

Information Technology

Demand for talent outpaces supply where 80% of organisations report difficulty finding the talent they need.

Despite the talent shortage, employers globally anticipate a Net Employment Outlook of +48%, strengthening when compared to both the previous quarter and the same time last year, 14 and eight percentage-points respectively.

*The 2023 UK Talent Shortage, ManpowerGroup

Health Care & Life Sciences

Demand for talent in the surpasses supply where 83% of organisations report difficulty finding the talent they need.

Despite the talent shortage, employers globally anticipate a Net Employment Outlook of +8%, declining 14 percentage-points on last quarter and down25 percentage-points compared to this time last year.

*The 2023 UK Talent Shortage, ManpowerGroup

<img src=https://4674640.fs1.hubspotusercontent-na1.net/hubfs/4674640/Icons/icon4P-150.png> Workforce Trends in the New Human Age

Subheading

Tech may be the Great Enabler but Humans are Still the Future

This recovery is unlike any we have ever seen – it is the combination of innovation, technology, and human ingenuity that will help us overcome the biggest challenges.

Humans have always adapted to new technologies and better ways of doing things. As the saying goes, history repeats itself, and the pandemic taught us again that we can make extraordinary progress if we come together –
it is the combination of innovation, technology, and human ingenuity that will help us overcome the
biggest challenges.

Learn more about the workforce trends that are accelerating the New Human Age.

There is a mismatch between what workers want and what employers are offering. Employers across the country are still keen to take on new talent, and workers want to take on higher paying roles with greater development opportunities. However, they aren’t seeing these jobs advertised.

Job descriptions are going unread because they aren’t offering the skills growth workers want. Employers need to be clear about the progression opportunities and the training they are providing.”

Chris Gray, Director, ManpowerGroup UK

<img src=https://4674640.fs1.hubspotusercontent-na1.net/hubfs/4674640/Icons/icon2P-150.png> About the ManpowerGroup Employment Outlook Survey

About the ManpowerGroup Employment Outlook Survey

The ManpowerGroup Employment Outlook Survey is the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator. The Net Employment Outlook is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity. Running since 1962, various factors underpin the success of the Survey:

Unique
It is unparalleled in its size, scope, longevity and area of focus. The ManpowerGroup Employment Outlook Survey is the most extensive, forward-looking employment survey in the world, asking employers to forecast employment over the next quarter. In contrast, other surveys and studies focus on retrospective data to report on what occurred in the past.

Independent
The survey is conducted with a representative sample of employers from throughout the countries and territories in which it is conducted. The survey participants are not derived from ManpowerGroup’s customer base.

Robust
The survey is based on interviews with nearly 39,000 public and private employers across 41 countries and territories to measure anticipated employment trends each quarter. This sample allows for analysis to be performed across specific sectors and regions to provide more detailed information.

Focused
For more than six decades the survey has derived all of its information from a single question: “How do you anticipate total employment at your location to change in the three months to the end of June 2023 as compared to the current quarter?”

Survey Methodology

The methodology used to collect the data for the Employment Outlook has been digitised in 41 markets for the Q2 2023 report.

Responses prior to Q1 2022 were contacted via telephone and are now collected in a double opt-in online panels where members are incentivised to complete the survey.

The question asked and the respondent profile remains unchanged. Size of organisation and sector are standardised across all countries and territories to allow international comparisons.