Lack of talent – What incentives do Greek employers offer – Differences abroad

Recruitment intentions are higher now compared to the last quarter of 2020, of the 45,000 employers who took part in the recent ManpowerGroup Global Employment Outlook Survey for the 4th quarter of 2021. 14 of the 43 countries report the highest such intentions of the last ten years.

However, finding skilled talent remains a top challenge for employers worldwide – 69% report difficulty filling vacancies – the highest percentage in 15 years for the second consecutive quarter.

The employers with the greatest difficulty are registered in India (89%), Romania (84%) and Singapore (84%). Greek employers are also struggling to find specialized talent with a rate of up to 72% – the same percentage for EMEA (Europe, Middle East, Africa) countries.

Dealing with a lack of talent

Greek employers offer the following incentives to attract talent to their businesses:

· Education, Skills Development or Vocational Guidance (55%)

· Flexible working hours (42%)

· High Salary (39%) and Bonuses (29%)

On the other hand, globally the primary way to deal with talent shortages is to offer job flexibility (67%) both in terms of hours and workplace while 41% invest in training, skills development and mentoring.

Development and retention of talents

In times of transformation and uncertainty, personal and technical skills are more important than ever to employees and leaders alike. Technical skills, personal skills and development programs for managers and senior executives are key priorities for developing and retaining talent for human resources teams.

Specifically, 42% of Greek employers plan to adopt personal skills upgrade programs (eg time management, communication) (lasting 6 weeks or less), 38% plan to implement development programs for managers and senior executives and 37% plans to invest in technical skills upgrading programs (lasting 6 weeks or less).

According to the employers, the biggest obstacle regarding the increase in the implementation of skills development programs in their organization is: money (33%), time (16%) and access to the right partners for upgrading / development of human resources (12% ).

Invest in existing talent

We know that retaining people is the best economic solution in the long run, compared to the process of recruiting and training young people. The cost of recruitment is 25% higher than the cost of retention.

If organizations invest in their existing human resources, they will not only create more skilled workers, but will save time and money. Investing in people is an important way to keep an organization competitive.