DAVOS, Switzerland, Jan. 23, 2014 /PRNewswire/ -- ManpowerGroup (NYSE: MAN), the world leader in innovative workforce solutions and World Economic Forum (WEF) strategic partner, advises companies to seek and develop multiple talent sources in order to drive increased agility and deliver faster time-to-value in the Human Age.
Jeffrey A. Joerres, ManpowerGroup Chairman and CEO, will today participate in the WEF 2014 Annual Meeting session "Three Human Capital Challenges for the 21st Century", examining the conundrum of the global oversupply of labor and undersupply of talent. Ever-changing technology, labor market bifurcation between highly-skilled individuals and those whose opportunities to participate in the workforce are limited, and shifting demographics have contributed to a marked imbalance. In a world where talent has become the major agent of economic growth, this imbalance is adding pressure on the labor market.
"Understanding how to unleash human potential is no longer a one-size-fits-all approach. Business leaders must consider which skill sets they need to execute their business strategy, and how best to close existing gaps," said Joerres. "Employers that tap into a wider range of skills across the entire talent ecosystem — full-time, part-time, contract and virtual — will maintain a competitive advantage in the marketplace."
Economic disruptions, compressed business cycles and the need to do more with less have strained existing work models to breaking point. Forward-looking employers who optimize diversified talent sources will remain agile and flexible which will enable them to respond faster to ever-changing market demands. They will build strong talent benches by drawing talent from undertapped resources including youth, women, migrants and older workers.
ManpowerGroup's 2013 Talent Shortage Survey found that 35% of global employers are struggling to fill open positions despite continuing high unemployment. Faced with such a quandary, CEOs expect their chief human resources officers (CHROs) to be the organization's "economists", providing market intelligence on talent supply and demand. CHROs must align workforce strategy with business strategy through planned workforce allocation that includes engaging and developing existing talent, as well as seeking out future talent sources.
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ManpowerGroup™ (NYSE: MAN) is the world leader in innovative workforce solutions that ensure the talent sustainability of the world's workforce for the good of companies, communities, countries, and individuals themselves. Specializing in solutions that help organizations achieve business agility and workforce flexibility, ManpowerGroup leverages its 65 years of world of work expertise to create the work models, design the people practices and access the talent sources its clients need for the future. From staffing, recruitment, workforce consulting, outsourcing and career management to assessment, training and development, ManpowerGroup delivers the talent to drive the innovation and productivity of organizations in a world where talentism is the dominant economic system. Every day, ManpowerGroup connects more than 630,000 people to work and builds their experience and employability through its relationships with 400,000 clients across 80 countries and territories. ManpowerGroup's suite of solutions is offered through ManpowerGroup™ Solutions, Manpower®, Experis™ and Right Management®. ManpowerGroup was named one of the World's Most Ethical Companies for the third consecutive year in 2013, confirming our position as the most trusted brand in the industry. See how ManpowerGroup makes powering the world of work humanly possible at www.manpowergroup.com. Follow ManpowerGroup Chairman and CEO Jeff Joerres on Twitter: Twitter.com/manpowergroupjj