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Skill Shortages and Labour Market Rigidity: An International Outlook

In: Contemporary Challenges in Social Science Management: Skills Gaps and Shortages in the Labour Market

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  • Monica Gupta
  • Priya Jindal
  • Mandeep Kaur

Abstract

Introduction:Organisations all over the world are experiencing skill gaps. One of the key factors contributing to the shortage of competent workers is the inability to find candidates that fit the profile. Most of the time, the market does not offer what organisations require. Purpose:This research focuses on skill shortages and labour market rigidity in the information technology (IT) sector. It discusses the impact of labour shortage and strategies to overcome these challenges. Need of the Study:The study is required to reduce the skill shortage in the IT sector and inflexibility in the labour market. Methodology:The data are collected from secondary sources, that is, books, journals and other internet sources. Findings:The labour market volatility is impacted by several external factors leading to rigidity and talent shortages. Different forecasts within the IT industry, manufacturing, media and telecommunications indicate large-scale labour shortages. The growing influence of digitalisation further creates challenges for organisations during the hiring process as the identified skill gaps for IT professionals are also identified. Practical Implications:Labour market rigidity affects the labour market. Shifts in labour supply and demand do not always impact wages. Methods are suggested on how to reduce the rigidity in the labour market and, in turn, decrease the skill gaps.

Suggested Citation

  • Monica Gupta & Priya Jindal & Mandeep Kaur, 2024. "Skill Shortages and Labour Market Rigidity: An International Outlook," Contemporary Studies in Economic and Financial Analysis, in: Contemporary Challenges in Social Science Management: Skills Gaps and Shortages in the Labour Market, volume 112, pages 87-99, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:csefzz:s1569-37592024000112b005
    DOI: 10.1108/S1569-37592024000112B005
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    References listed on IDEAS

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    1. Tan, Youchao & Liu, Xiumei & Sun, Hanwen & Zeng, Cheng(Colin), 2022. "Population ageing, labour market rigidity and corporate innovation: Evidence from China," Research Policy, Elsevier, vol. 51(2).
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    3. Mehtap Akgüç & Jaai Parasnis, 2023. "Occupation–Education Mismatch of Immigrant Women in Europe," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 170(1), pages 75-98, November.
    4. Kumar Shalender, 2021. "Building Effective Social Media Strategy: Case-Based Learning and Recommendations," Springer Books, in: Subhankar Das & Saikat Gochhait (ed.), Digital Entertainment, chapter 0, pages 233-244, Springer.
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