PwC: CEOs believes skills gap biggest threat to business growth

NEW DELHI: More organisations globally are planning to go on a hiring spree over the next 12 months but are concerned that they will not be able to find qualified candidates, a PwC report says.

As many as 63 per cent of the CEOs surveyed for the report said that availability of key skills is the biggest business threat to their organisation's growth.

The global PwC survey of over 1,300 CEOs in 68 countries reveals that after a number of years of headcount cuts, half of organisations surveyed are looking to hire again.

Despite the positive outlook for jobs, PwC's research revealed that business leaders are more concerned than ever about being able to find the right people to fill these roles.

"The gap between the skills of the current workforce and the skills businesses need to achieve their growth plans is widening. Despite rising business confidence equating to more jobs, organisations are struggling to find the right people to fill these positions," PwC global HR consulting leader Michael Rendell said.

CEOs in Africa (96 per cent), the South East Asian nations (90 per cent) and South Africa (87 per cent) are most concerned about the lack of skills. Technology and engineering firms are struggling the most with the shortage of skilled employees.

The research showed business leaders are looking to the government to do more to help to plug the skills gap. Two in five CEOs said creating a skilled workforce should be one of government's top three priorities and over half of respondents said regulation is hampering their ability to attract talent.

"CEOs are laying much of the blame for skills shortage at the feet of government and legislators, but they should accept that they need to re-think the way they think about, look for and value their employees," Rendell said.