Skills Shortages a Major Threat for Irish Business Growth

The recent PwC Irish HR Directors Survey shows that over three-quarters (77%) of Ireland’s HR leaders are experiencing skills shortages, this is up from 61% last year. IT, data analytics, risk and finance were the areas with the greatest skills gaps.

Less than half (45%) plan to increase staff in the year ahead, this is well below last year’s plans (75%). This may point to organisations focusing on retention and skilling-up internally in order to deal with the possible war for talent that may lay ahead

Some of the key findings of the PwC 2017 HRD Pulse Survey

• 77% of HRDs said that the skills shortage is having a serious impact on business performance
• 74% of organisations polled have changed or are set to change their performance management model
• Creating the right reward strategy is essential to attract and retain key staff.
• 62% of HRDs plan to increase spending on HR technology in the coming 18 months.
• The most important HR priorities over the next 18 months involve developing key skills and retaining key talent

Gerard McDonough, Director at PwC People & Organisation commenting on the research said, “The survey highlights that Ireland’s HR leaders need to rethink some of the key areas of recruiting, retaining and rewarding their people. Some improvement is needed so that organisations can strive to develop a solid pipeline of future leaders, who are well-prepared to tackle the challenges of today’s changing world.”

To download the full PwC 2017 HRD Pulse Survey click here