Businesses struggle to find qualified applicants despite record number of people looking for work

Talent scarcity has become a major concern for businesses worldwide despite record-high unemployment rates, according to a new report.

About 40% of human capital leaders say that their organization has been negatively impacted by talent scarcity, according to the 2021 Talent Trends Report from Randstad Sourceright.

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Another 28% indicated that they can't find enough qualified candidates for human resource roles. Nearly one in five reported that their organization needs more finance and accounting specialists, according to the report.

Businesses claim that it's become harder to find talented employees all while the applicant pool continues to widen as a result of virus-related layoffs. However, finding talented workers is considered a major component of post-pandemic recovery for these very businesses.

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Randstad Sourceright's research indicated that businesses are now turning to talent analytics in order to understand what is being spent on talent, how resources are utilized and the availability of specific skills within their own organization as they try and recover from the economic recession.

So far, nearly one in five human capital leaders already started investing in talent analytics due to the ongoing coronavirus pandemic. Even when the pandemic subsides, most businesses, about 90%, will continue to budget for talent analytics platforms, according to the report.

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"Talent analytics have always been of the utmost importance to talent leaders and will now play an even more integral role in companies' recovery efforts," Randstad Sourceright CEO Mike Smith said.

The results of the report were based on a survey of 850 C-suite and human capital leaders in 17 markets worldwide.

The Associated Press contributed to this report.