CIPD Survey Finds Competition for Talent Increases Threefold

 The Chartered Institute of Personnel and Development’s (CIPD) CIPD/Hays Resourcing and Talent Planning Survey 2013  has revealed that the number of employers reporting increased competition for top talent has jumped from 20 percent in 2009 to 62 in 2013. Furthermore, about 60 percent of organizations reported experiencing difficulties in filling vacancies over the past year. Positions reported as being most difficult to fill were managerial and professional jobs (52 percent) and technical specialists (especially in manufacturing and production).

Turnover has also been in decline over the past five years and one in six respondents said a shortage of applicants had led to recruitment difficulties this year. Additionally, the research found that an increasing number of organizations are using social media as a way of attracting job seekers, even as corporate websites and recruitment agencies are still considered to be the most effective ways of attracting talent. Just over one half of organizations reported using social media but just 40 percent of those companies had a dedicated social media strategy.

Ksenia Zheltoukhova, research associate at the CIPD, said: “Low rates of labor turnover suggest that some workers at the top end of the labor market are staying put in their jobs in these economically uncertain times, meaning employers have to work harder than ever to find the right talent to fill vacancies.”

Barney Ely, director at CIPD research partner Hays Human Resources, said, “Workers are still being cautious when considering a new role, so employers are facing a competitive market when trying to attract people to fill skills gaps. They should step up to this challenge by retaining and training their existing workforce with career development and progression initiatives, and by looking at broader talent pools to ensure they have the skill set to drive business growth.”