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Talent is scarce, but so are skills

There might not be a wrong for every right, but this news comes close:

We know that unemployment is hovering around 5% this year, which, of course, is the kind of news we all like to hear. But did you know that nearly half of all U.S. employers are struggling to find talent?

According to a recent survey of 42,300 employers around the world, 46% of American employers are having difficulty filling jobs.

Frustrating, right? It’s not too hard to explain why this is happening.

Although 87% of college graduates feel prepared to enter the workforce, another study found that only half of hiring managers agree.

Advances in technology and new ways of working all mean that the jobs companies need filled are evolving and that we need people with different skills to do them.

In other words, we’re talking about a skills shortage rather than a labor shortage.

And that explains the explosion seen of late in on-the-job training. While only 12% of U.S. employers were training their employees a year ago, 48% reported up-skilling their staff in 2016.

That means landing your dream job may depend less on what you know and more on what you are capable of learning.

Regardless, employers need to get more creative about their talent searches. After all, two part-time staff members might be a better answer than one full-time person.

About the Author

Will Temby

Will has enjoyed a 20-year career in leadership positions in the hospitality and travel industry throughout the U.S. with the Hyatt, Sheraton, Hilton, Renaissance and Steamboat Ski and Resort corporations. Will received a Bachelor of Science degree from the University of Massachusetts at Amherst. From 2000-2007, he served as President and CEO of the Greater Colorado Springs Chamber of Commerce. He also served as Vice President-Special Projects for the University of Colorado Foundation from 2007 to 2009. Will is a past Chair of the Board of Directors of the National Homeland Defense Foundation and former member of the United States Chamber of Commerce Committee of 100. He is married to Nan, has five wonderful children, and enjoys coaching, traveling, hiking, golfing and skiing.

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