A recent analysis by the Hay Group division of Korn Ferry shows a signiﬁcant scarcity of qualiﬁed job candidates among U.S. companies, with 41 percent of analyzed organizations reporting diﬃculty ﬁnding the right talent for needed roles.
The analysis shows that for the third year in a row, the two most diﬃcult types of positions to ﬁll were Information Technology (IT) where 42 percent of companies report there aren’t enough qualiﬁed candidates, and engineering, where 34 percent report scarcity. Other diﬃcult types of jobs to ﬁll include ﬁnance and accounting at 16 percent, and sales and supply chain/logistics, both at 13 percent. The jobs that are the least diﬃcult to ﬁll in the analysis included administration/support and legal, both at 3 percent, and health/safety/ environment at 1 percent. The data includes information from 2,100 U.S. companies employing a total of more than 5 million people.
“With ubiquitous digital transformation happening in every industry, it’s no surprise that there is a dire need for qualiﬁed candidates in science, technology, engineering and math (STEM) ﬁelds,” said Samantha Wallace, Market Leader, Technology Practice for Korn Ferry Futurestep. “A strong employer brand is critical to attracting and retaining top talent, and it’s equally important that existing employees get ongoing development and advancement opportunities to keep the STEM employee pipeline full.”
The data shows that the voluntary turnover rate for employees in 2016 was 11.9 percent. That is fairly consistent with previous years. The ﬁelds with the highest rates of voluntary turnover, in order, are production, sales, IT and engineering. “While it’s true that employers are seeing the greatest candidate scarcity in STEM ﬁelds, the lack of qualiﬁed talent is seen across virtually all industries and job roles,” said Tom McMullen a Korn Ferry Hay Group Senior Client Partner specializing in reward and organization eﬀectiveness. “We recommend companies take a longer-term look at their business and talent strategies to make sure they are attracting, developing and retaining the right people with the right skills to meet goals now and into the future.” Source: Wolters Kluwer