Gartner Emerging Risks Report highlights the rise of talent shortage as a top concern

Published: Wednesday, 03 October 2018 08:38

Gartner’s quarterly Emerging Risks Report has found that talent shortage has joined privacy regulation and cloud computing as the top three business risks that organizations are concerned about.

In a time of historically low unemployment where the supply of available workers is much lower than usual, organizations are struggling to find and retain the talent that they need to meet their strategic objectives.

At No. 3, behind accelerating privacy regulation and cloud computing, this is the first time talent shortage was named a top business risk in Gartner’s quarterly Emerging Risks Report. Cloud computing, which was ranked the No. 1 risk in 2Q18, remains a concern. Cybersecurity disclosure and the artificial intelligence (AI)/robotics skills gap round out the top five concerns among executives surveyed.

“In this strong economic environment of significant business growth and record-low unemployment levels, the battle for talent is heating up as employees now have more bargaining power,” said Matthew Shinkman, practice leader at Gartner. “As a result, talent is harder to find and even more difficult to keep.”

In the US alone, the number of unfilled jobs rose by 117,000 to 6.94 million from June to July 2018, based on the most recent Job Openings and Labor Turnover Survey. And in the UK, the unemployment rate is now at its lowest level in four decades, according to the Office of National Statistics.