Chart: Which countries face the greatest skills shortage?

Finding skilled labor is a problem around the world according to a recent report from the Organisation for Economic Co-operation and Development titled “Getting Skills Right: Assessing and Anticipating Changing Skill Needs.”

The report found that many workers believe they have the skills to cope with more demanding work, while some think they need more training to cope well with their duties. On average, more than 40% of European workers feel their skill levels don’t correspond to those required to do their job, with similar findings for Mexico, Japan and Korea.

At the same time, the report notes, many employers report that they face recruitment problems because of skill shortages.

The mismatch of skills and workers can have a significant effect on supply chains as businesses continue to move jobs offshore.

Skill shortages can constrain the ability of companies to innovate and adopt new technologies, the report says, while skill mismatches reduce labor productivity because of the misallocation of workers to jobs. Individuals are also affected as they face a higher risk of unemployment, lower wages, lower job satisfaction and poorer career prospects. Individuals whose skills don’t match the jobs they’re doing also are at higher risk for workplace injuries.

The scope of the problem varies by country, but it is most noticeable in Asia. The following chart shows the countries facing the greatest skills shortage as a percentage of firms with 10 or more employees. If you have employees in any of these countries, you should consider strategies for assessing and anticipating skills need and ways to provide the appropriate training to your existing employees while recruiting for specific competencies.

(Click image to enlarge)

Source: Statista

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