Sept. 13, 2013
(NYSE: MAN), the world leader in innovative workforce solutions and World Economic Forum (WEF) strategic partner, today outlined impactful actions that can be taken to enhance the employability of the world's workforce in order to reduce both global youth unemployment rates and talent shortages.
, ManpowerGroup Chairman and CEO, led a session at the WEF Annual Meeting of the New Champions in
, titled "
Building Capacity for Employment"
examining what can be done to build to develop a more employable labor force. Approximately 75 million young people are out of work worldwide, yet millions of jobs remain unfilled — ManpowerGroup's 2013 Talent Shortage Survey found that 35% of employers globally, and more than half of Asian employers, are having difficulty finding workers with the right skills for open positions.
"It is imperative to get young people more engaged in the workforce because if they check out for a prolonged period of time, the risk is that person is lost to the labor market for good as skills life cycles have become shorter. That is something the world cannot afford from a social or economic perspective," said Joerres. "Employers, government, educators and individuals should get around the table and work together to develop a sustainable talent pipeline with the skills businesses need."
"Building Capacity for Employment"
panel addressed questions including:
- How does a framework for a resilient job market function?
- Can vocational training solve the problem of the skills mismatch?
- Can new models of higher education tackle unemployment?
- How can youth entrepreneurship be fostered, and is this a solution to the broader challenge?
ManpowerGroup recommends that employers forge closer links with educational institutions to ensure the education system includes training that develops young people's workplace competencies such as collaboration and presentation skills. Employers are also advised to adopt a mindset shift, recruiting for potential where an individual demonstrates the right attitude, capacity to learn technical skills and motivation to grow in their role — which ManpowerGroup calls the Teachable Fit
By promoting vocational training, for example through apprenticeships or work placements, employers can provide greater opportunities for young people to gain valuable workforce experience. As companies have become more demanding in terms of the criteria they are looking for in a successful hire, so the need for individuals to remain intellectually curious and continually add to their spectrum of skills becomes of paramount importance.