Talent shortage in LatAm hits Brazil and Guatemala hard

A new report from the human capital specialist ManpowerGroup noted that so far in 2022, three out of four companies globally suffer from a talent shortage and have difficulty hiring employees. The 75% indicator is the highest in the last 16 years, after being at 69% in 2021 and 54% in 2019.

And it is that although unemployment levels remain high in many countries of the world and Latin America, the Talent Shortage Survey indicates that the demand for specific skills is at “historic highs” while labor participation stagnates.

“Large companies (more than 250 employees) are the ones that struggle the most to hire and retain talent, compared to micro companies (less than 10 employees)”, highlights the report, after consulting 40,000 employers in 40 countries and territories.

WHAT HAPPENS IN LATIN AMERICA?

For the region, ManpowerGroup measured human capital search needs in eight countries, with two remaining above the global average for talent shortages (75%): Brazil (80%) and Guatemala (77%).

A little further down are Argentina and Peru, with an average talent shortage of 73% and 67%, respectively.

Also below the global average are Costa Rica (66%), Mexico (65%), Panama (64%) and Colombia (61%), the latter being the third with the lowest rate of talent shortage in the world, only below Slovakia (56%) and the Czech Republic (49%), among the 40 territories measured.

The report notes that globally the most in-demand jobs or functions are IT and data, sales and marketing, operations and logistics, manufacturing and production, and customer service.

From manufacturing to marketing to transportation to trade, employers can’t find the people they need with the right mix of technical skills and human strengths.

In addition, it is emphasized that soft skills, that is, the skills associated with emotional intelligence, are now “more important than ever”. Even in an increasingly technological world, human skills stand out in the digital age, the report highlights.

These are the soft skills most required by companies globally to complement the professional profile of an employee:

• Reliability and self-discipline.
• Resilience and adaptability.
• Reasoning and problem solving.
• Creativity and originality.
• Critical thinking and analysis.

The survey also revealed which sectors such as education, health and government; manufactures; banking and finances; restaurants and hotels; and construction, also report talent shortages.

With information from Bloomberg