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7 Stats that help explain the global labor shortage

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5. international migrant workers account for 5% of the global workforce Countries like the U.K., United States, Germany, Canada and Saudi Arabia rely heavily on immigrant workers. During the pandemic immigration of foreign workers fell to record lows as many countries shut their borders and tightened their immigration policies to prevent the spread of COVID-19. For example, 1.3 million immigrant workers left the United Kingdom during the pandemic and Canada saw a reduction of 400,000 immigrant workers in Q1 2021 compared to previous years. While it's likely that these rates will slowly start to rise since many countries are loosening their travel restrictions, it could take years before immigration returns to pre-pandemic levels in many areas around the world. Companies in these countries that rely on immigrant workers will need to invest in other strategies, such as increased wages, employee training and the use of contingent workers, to find the talent they need. 6. 78% of business leaders expect automation to change they way of work The introduction of automation as well as the advancement of new technologies, including Machine learning and Artificial Intelligence, are helping companies streamline many business processes. With automation set to replace many routine tasks in the workplace, employers are likely to transition their hiring needs to search for candidates that don't only have the right digital skills but ones that also have relevant soft skills. For instance, employers are likely to seek out candidates that have human-centric skills that technology can't provide, such as empathy, collaboration and listening. Many of these skills are difficult to teach, so developing strategies to assess candidates for these skills will be necessary. Contact Randstad today to learn more about the growing labor shortage and what steps your company can take to overcome these challenges. 7. there are nearly 11 million job vacancies in the united states alone According to the Bureau of Labor Statistics, there are nearly 11 million job vacancies in the United States alone. The United States isn't the only country facing a significant labor shortage in 2022. The U.K. has over 1.2 million job vacancies and Australian employers are struggling to fill more than 400,000 open job roles. While these numbers are quite alarming, many of these countries also struggle with higher-than-normal unemployment rates. This mismatch in numbers definitely shows that many workers around the globe are not rushing back into the workforce. Whether by choice or due to personal issues, such as childcare, many of today's workers are holding out for better working conditions, including higher wages, more flexible work schedules, additional paid time off and safer work environments, just to name a few. With the marketplace shifting to a candidate-driven job market, employers must find ways to meet these workers' shifting expectations if they want to attract and retain the talent they need. Contact Randstad to get support! number of job vacancies in the United Kingdom from January 2016 to February 2022 source: Office for National Statistics – Vacancy Survey, 2022 0 2016 2017 2018 2019 2020 2021 2022 375 750 1,125 1,500 thousands

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