Execs Implementing Strategies To Address Labor Shortage

Executives are working on implementing new strategies to address the growing skill-shortage problem.

According to a recent West Monroe report titled Quarterly Executive Poll for Q4, some of these strategies include deploying more automation technology (33%), raising wages/salaries (68%), increasing flexibility where talent is permanently residing (57%), harnessing continental talent (51%), investing in retention (46%), and introducing higher signing bonuses (41%).

The report also found that 18% of executives surveyed cited the Great Resignation as the largest impact on their business. 15% are concerned about the pandemic’s impact on their employees.

Going forward, only 5% of respondents said they would be laid off in the current quarter, while 71% said they would hire more and 25% said there would be “no more changes from last quarter” when hiring was at its peak.

IT World Canada Staff
IT World Canada Staff
The online resource for Canadian Information Technology professionals.

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