Over a Quarter of CEOs Believe There’s A Shortage of Talented Professionals

CEOs prioritize inflation and talent significantly more than the concerns such as increasing interest rates or a recession. The issue of a shortage of skills and lack of sufficient professionals has been a prominent worry for these top executives for over ten years. As time passed, the concern only intensified.

The results revealed insightful data upon analyzing two surveys in a report provided by Gartner that were each conducted a decade apart.

In a 2013 survey where about 391 senior business executives and CEOs were recruited as respondents to share their opinions on the talent crisis, the data revealed that 60% believed that talent scarcity was reaching crisis proportions, and 40% believed that talent shortages were just a business myth.

However, in 2023, ten years after the first survey, the survey was conducted again with a number of 415 senior business executives and CEOs. The results revealed that 78% of them believed that there was talent scarcity and that it was reaching crisis proportions. The survey revealed a drop as 22% of those professionals held on to the belief that talent shortage was just a myth.

There have been calls for functional top professionals to quickly manage their energy, time, and resources in an effective way to gain business and personal success, especially during unprecedented times like this contemporary era where cost pressures are apparent as well as the fact that there is a shortage of skilled personnel with talent being more expensive.

Upholding conventional business objectives is straightforward: increase revenue, reduce costs, and boost margins. Immature innovators tend to opt for that idea in order to save costs. However, top innovators in executive positions place more preference on non-monetary goals such as mitigating strategic risk and attracting talent by giving their business’ image a fresh look, which in turn drives more talented personnel toward them, therefore bringing in their skills that are a requirement and an absolute necessity for digital transformation.

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