Half of Employers Say Skills Shortages Affect Business Operation

The overwhelming majority of employers are concerned about the impact of skills shortages on their business operations and about half say it will definitely affect them, according to the 2013 Hays Asia Salary Guide.

According to the Salary Guide, 93% of employers say skills shortages have the potential to hamper their business, and 49% indicate that skills shortages will ‘without a doubt’ affect their operation. This figure is up from 38% in 2012 – a significant increase.

The Salary Guide, which surveyed about 1,200 employers in Hong Kong, Japan, Singapore, Malaysia and China, also revealed that engineering, sales and IT remain among the top skills in demand across Asia.

To cope with limited talent supply, 68% of employers are willing to hire or sponsor qualified overseas candidates in skill short areas, while 52% have used flexible staffing approaches in the past 12 months.

88% also say they are using contractors as part of that flexible approach and 25% expect the use of these workers to increase in the next 12 months – this figure is up from 18% in 2012.

“This suggests that Asian employers are adapting to the economic climate and thinking outside the box to address the issue of skills shortages,” says Marc Burrage, Regional Director of Hays in Hong Kong.

Meanwhile, the Salary Guide survey indicates 60% of employers say that a career path and training have a “major or significant impact” on their ability to attract the right candidates, yet only 10% feel the perception of their employer brand in the market for these qualities is excellent.

Source: Hays Hong Kong