HRM Strategies to Address the Skills Shortage
Skill shortages in the workforce pose a significant challenge for businesses, particularly in an era marked by rapid technological advancements and evolving market demands. HR professionals play a vital role in navigating these shortages, ensuring their organizations are equipped with the talent needed to thrive in a competitive landscape. According to Ulrich, et al. (1995), HR professionals are a credible activist, culture and change steward, talent manager, organizational designer, strategy architect, operational executor and business ally. Why is the Skills shortage? We are in the middle of a global talent shortage. Skill shortage is primarily driven by technological changes, an ageing population and shifts in industry demands (Harrison, 2023). According to data from Aaron, et al., (2021), massive 87% of businesses report they are either facing a skills shortage or expect to do so in the next five years. For many mature economies, such as Japan (which curren...