Cracking the talent crunch to unlock growth in the future of work.
Senior business leaders know that talent grows more vital by the day. But The Talent Shift, the latest study in Korn Ferry’s Future of Work series, shows that businesses are failing to prepare for a looming global skills shortage that threatens growth and profits.
Based on a survey of more than 1,500 leaders across 19 economies, and with insights from the Korn Ferry’s landmark report, , this new study reveals that business is resisting new approaches to talent. Many believe that skills shortages will be temporary or can be managed through investment in new technology. But Korn Ferry warns that if business does not adopt appropriate strategies to tackle the skills shortage it will significantly affect the growth of key global markets and sectors, with the impact felt as early as 2020. Left unaddressed, this is a crisis that will blow up, not blow over.
This study examines corporate attitudes toward talent availability in the future of work. It also details the extent to which business leaders are aware of imminent talent shortages, and the steps they plan to take to mitigate talent challenges.