In Panama four out of ten companies failed to find the ideal candidates when they needed them.
Data from Manpower reveals that worldwide the talent shortage is around 40%, in Colombia it is 50% and in Panama 36%.Monica Flores, president of the group for the region, said that"... 'we have overvalued degrees and university titles, when what is needed today are professionals and specialised technicians'."
Companies recognize how important managing a growing international and mobile workforce is for the future of their businesses, but they do not know how to do it.
Companies do not have an appropriate strategy to deal with the transformation that is happening the way of working in the world -from the convergence of five generations to operations spread across the planet- which will lead to a crisis in management, attraction and retention of talent, concludes the Workforce 2020 study, prepared by Oxford Economics and SAP.
Panama is near the top of the list of countries where there is the most acute shortage of skilled labor. Guatemala and Costa Rica are located in the middle of the table.
In the Canal country, 47% of employers said they have difficulties in filling jobs with the right people. In Guatemala this percentage is 36%, and in Costa Rica it is 35%.
The Manpower report identifies the key strategies cited by respondents, to overcome the problem:
Simply paying more is not enough, instead specific needs of each worker should be addressed, such as flexible schedules, teleworking and services such as child care and fitness.
Participating in the Forum on Human Resources by Capital Financiero entitled "Keys to Success in Retaining Talent," were Juan Planells, former director of the National Institute of Vocational Training for Human Development (Inadeh); Alberto Saenz, director of PwC Consulting, and human resourcemanager of the Panama Canal Authority (ACP), Procter & Gamble and Dell, Jose Rivera, and David Cabrera Enrique Salgado, respectively, who addressed this issue.
To fill a position it is customary to choose candidates from those in the labor market, but many of these may be mediocre malcontents.
In reality, the way to get the best people is to look among those who are enjoying their current job, and who are not actively looking to change firms or position, but would accept an attractive offer. They are called "passive job seekers."
"If a person with 20 years of education emigrates and another person, with 12 years of education immigrates, the country has suffered a net loss of 8 years of investment in training."
The retention of human capital and recruitment of highly qualified human resources from other countries is of vital importance to nations.
Panama is the only Central American country participating in the International Student Assessment (PISA).
The Program for International Student Assessment (PISA) is to measure if students near the end of mandatory education have acquired the knowledge and skills necessary to fully participate in society. PISA highlights those countries which have achieved good performance and at the same time, an equitable distribution of learning opportunities, helping in setting ambitious goals for other countries.
"People don´t leave the company, they flee from their managers" - Lynda Ford, from Ford Group.
Speech by Prof. German Céspedes Herrera, from the Institute of Business Studies, during a conference sponsored by El Financiero, on "How to retain talent," which discusses the following topics:
A strong employer brand will help organizations attract and retain the best talent.
The importance of an organization's employer brand will become more critical as companies continue to adjust and align their workforce to prepare for the next cycle.
As the talent crunch worsens, training and development will be key for employers to keep and upskill the talent that they have. This downturn signifies how an agile workforce strategy is required to attract and retain the talent that a company needs in order to achieve its business strategy.
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