FINDING A TALENT

DURING A SHORTAGE
Presented by: Czarina Jean Sonza
September 29, 2022
 Finding a Talent during
a Shortage
01 03
What Caused the How to retain talents

02
Talent Shortage?

How to find talents

during a shortage
Talent
Shortage
What Is Really Causing Today's
Extreme Talent Shortage
What is Talent Shortage?
A talent shortage means there
currently aren't enough skilled
workers available to fill the number
of open jobs
The number of open positions
currently available far exceeds the
number of qualified candidates
Why is There a Talent Shortage?

COVID-19

GREAT RESIGNATION

AGING POPULATION

TECHNOLOGY SKILLS GAP

COVID-19

Hastened
retirements
GREAT RESIGNATION

Increasing QUIT rate

Voluntary unplanned turnover (the “quit rate”) is increasing

Increase "I WANT to Quit" rate

Pent-up departure demand (the “want to quit rate”) also is
increasing.

Open-position vs time-to-hire
Open-position and time-to-hire rates are increasing.

Early Voluntary Departure

Early voluntary departure of new hires (less than eighteen months) is
increasing.
AGING POPULATION
Workers aged 65 and above increased to
38.2% in June, up from 34.9% in May, according
to the Philippine Statistics Authority (PSA).

Based on the latest data, a total of 2,538,000

workers aged 65 and above were recorded in
June, an increase of 234,000 from 2,304,000 in
May.
Those retirees take with them the skill,
knowledge, wisdom, institutional memory, and
relationships developed during their tenures.
Studies estimate that by 2030,
one in six people in the world will
be aged 65 or over and by 2050,
this number will double.

According to UN and World Bank

statistics, 75 countries already
have fertility rates that fall well
below the desired replacement
rate of 2.1%.
TECHNOLOGY SKILLS GAP
A skills gap is a gap between the skills an employee
has and the skills he or she actually needs to perform
a job well.
Three major factors in the current skills gap are a lack
of tech training, retiring baby boomers, and a lack of
soft-skills development.
Source: LinkedIn Economic Graph.
Source: LinkedIn Economic Graph.
HOW TO FIND TALENTS
D U R I N G A S H O R T A G E
 A Holistic Talent Strategy

BUILD BUY BORROW BRIDGE

Invest in learning and Go to the external market to Cultivate communities of talent Help people move on or move
development to grow your attract talent that can’t be built outside the organization up to new roles within the
talent pipeline in-house organization
Employers are addressing skills and
labor shortages through upskilling
and wage increases, with fewer
using automation, recruitment or
outsourcing to manage shortages.
EMPLOYEE
RETENTION
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Talent Retention
The ability an organization has to keep its
employees.
This is when employees choose to stay with
their current company, rather than look for
opportunities elsewhere.
Effective employee retention can save an
organization from productivity losses.
High-retention workplaces tend to employ
more engaged workers who, in turn, get
more done.
11 WORKFORCE TRENDS
AND PREDICTIONS FOR 2022
 Question Session

If you have any

questions, you are
welcome to ask

Thank You...
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