Global businesses are ‘thirsty’ for labor
1 min read

Global businesses are ‘thirsty’ for labor

The `great job hopping` that countries experienced during the pandemic shows no signs of ending.

In Europe’s largest economy, there were 887,000 job vacancies in August. This number is 108,000 higher than last year.

In the US, recruitment signs are hung everywhere, in front of restaurants and other businesses.

Recruitment notice at a store in New York (USA) last year.

`The job vacancy rate in the world is very high. Surveys and interviews with businesses show that finding people is very difficult,` said Ariane Curtis – economist at research firm Capital Economics.

Countries in Western Europe and North America are struggling with similar problems.

An OECD report in July said the ratio of job vacancy compared to the unemployment rate increased sharply in Australia, Canada and the UK at the end of 2021. This shortage is still continuing even though the world economy has begun to slow down.

Businesses are also being forced to adapt.

Office staff is also in short supply.

`We saw a record number of candidates disappear during the recruitment process. They never called back,` Verrier said.

Before Covid appeared, the aging population had caused a labor shortage.

There are many factors behind this phenomenon.

Some other reasons are the decrease in the number of immigrant workers due to the blockade.

`The pandemic promotes a fundamental change in thinking and life priorities. Companies cannot keep up with that change,` said Bonnie Dowling – an expert at consulting firm McKinsey.

To attract and retain employees, businesses are offering higher salaries.

Some countries have also relaxed immigration regulations to attract human resources.

`The big question now is whether the situation in recent months will be eased or not,` said Mike Smith – CEO of international recruitment firm Randstad Sourceright. `We do not believe that it is a transition.

Leave a Reply

Your email address will not be published. Required fields are marked *