Contrary to media recent reports, technology, digitisation and automation has led to a talent shortage, not a job shortage.

Employers across 43 countries recently completed a ManpowerGroup survey on talent and solutions to the talent shortage. The results: global talent shortage is at a 12-year high, and 34% of Australian organisations can’t find people with the skills they need.

To solve this, ManpowerGroup suggests that organisations “build, buy, borrow and bridge” so organisations and employees can adapt to cope with automation.

1. Build – emphasise continuous learning

 One way to manage the talent shortage is to build existing talent you already have. Encourage workers to stay curious, create a “culture of learnability” and adopt training programs.

2. Buy – reach out to the external market

Where existing talent cannot be cultivated, showcase your organisation to attract potential employees. To attract workers HR must embrace digital marketing. Job seekers (and even those “not looking”) will be attracted to businesses that display a strong employee value proposition, a positive workplace culture, employee benefits and perks and (of course) competitive salaries. Ironically if you have all of these characteristics your existing employees will become a great source of external candidates.

3. Borrow – consider outsourcing 

The traditional mode of employing permanent staff is changing, especially since 87% of workers are open to “next-gen” work. This includes part-time, contingent, contract, freelance or temporary work.

Outsourced talent lets companies approach problems from different perspectives, while tapping into the external sources available.

4. Bridge – help employees into new roles

New skills are emerging as quickly as traditional ones are becoming obsolete. ManpowerGroup calls this the “skills revolution”, causing employers to bridge or transition employees from old to new roles.

The talent shortage is causing businesses to rethink how to manage staff, and how to attract potential candidates. The most important point is that “soft skills” are human strengths that will be enhanced by automation.  Human strengths include communication, relationship-building, creativity, empathy and curiosity. Workers that can balance soft skills with technical skills are the ones most desired by businesses. The businesses that hire these workers are the ones that will succeed.

The foundU platform can help you build, buy, borrow and bridge.