Contractor News Roundup: July 2020
According to Ranstad’s second quarter Workmonitor survey of the employee marketplace, a ‘skills gap’ is developing in Europe and the US as skilled workers and older employees retire. The report reveals that there is a widening gulf between supply and demand in developed economies such as Europe and the US, creating a significant opportunity for contractors, who can help to fill these gaps which are created by shifts in global worker demographics
The survey states that “The war on talent refers to an increasingly competitive landscape for recruiting and retaining talented employees …around one-third of the employees state that the organisation for which they work does not succeed in hiring well qualified staff to fill its vacancies.”
The survey results highlight that Europe especially is suffering from ‘skills mismatches’, and employers are not able to find the right skills to fill job vacancies. And across many European countries, an average of 25% of all employees also admit that the requirements of their current job are beyond their abilities.
Contractors can offer their knowledge and skills as a solution to this situation, with the well-established contracting model allowing contractors with niche skills – which are in high demand – to share their services around many organisations. This will benefit the economy of each affected country, rather than the contractor’s skills being ‘locked in’ to a single employer.
These findings come at the same time as Powerchex stated that contractors have gained a stronger foothold in the financial services market, with figures that suggest intake is stabilising at a higher level than before.
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