Sunday, July 3, 2022
  • Login
Upgrade
The Southern African Times
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs
No Result
View All Result
  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs
No Result
View All Result
The Southern African Times
No Result
View All Result
Home Just In

Shortage of skilled workers a major risk in South Africa

by SAT Reporter
January 18, 2022
in Just In
0
Shortage of skilled workers a major risk in South Africa
0
VIEWS

JOHANNESBURG, (The Southern African Times) – International financial services provider Allianz has published its global risk barometer for 2022, surveying 2,650 risk experts in 89 countries and territories about the biggest risks facing their businesses in the coming year.

While ongoing issues such as ransomware attacks, data breaches or major IT outages continue to threaten businesses, for the first time since the survey started, the shortage of a skilled workforce has been ranked a key risk globally.

Notably, skills shortages were named as the eighth biggest risk in South Africa right now – with businesses warning that it has rarely been more challenging attracting and retaining workers.

“As economies reopen around the world after lockdowns, reports of employers being unable to find the workers they need have become increasingly common,” Allianz said.

“Covid-19 has been hugely disruptive to the labour market, exacerbating existing issues caused by older employees retiring and the already changing needs and expectations of potential employees, while bringing new challenges such as skilled workers who want flexibility over when and where they work and who are prepared to leave existing jobs to achieve this.”

As of December 2020, the global talent shortage amounted to 40 million skilled workers worldwide. By 2030, global consulting firm Korn Ferry estimates that this could reach more than 85 million people, resulting in the loss of trillions of dollars in economic opportunity for companies, Allianz said.

Knowledge-intensive industries such as financial services, technology, media, telecommunications and manufacturing are among the industries that are predicted to be most affected, while survey respondents ranked talent shortage as a top-five risk in the following sectors:

  • Engineering;
  • Construction;
  • Real estate;
  • Public service;
  • Healthcare;
  • Transportation.

This aligns with data published by Old Mutualin November which shows South Africa faces a ‘ticking time bomb’ as more skilled workers quit their jobs as part of a ‘great resignation’ and companies are forced to deal with increasingly high churn.

Previous Post

From 6G to big data, China is looking to boost tech’s share of its economy

Next Post

African tourism sees 12% jump in 2021 but remains well below pre-pandemic levels

SAT Reporter

Related Posts

15 African countries with the highest defense budgets in 2022
Just In

15 African countries with the highest defense budgets in 2022

by SAT Reporter
July 2, 2022
Key to Unlocking Major Investment in Africa – Better Data

Key to Unlocking Major Investment in Africa – Better Data

by SAT Reporter
July 2, 2022
Key takeaways from CBN’s new cybersecurity guidelines for Other Financial Institutions (OFIs) in Nigeria

Key takeaways from CBN’s new cybersecurity guidelines for Other Financial Institutions (OFIs) in Nigeria

by SAT Reporter
July 1, 2022
Kenya surpasses South Africa as continent’s top avocado exporter

Kenya surpasses South Africa as continent’s top avocado exporter

by SAT Reporter
July 1, 2022
Industrialise to be competitive – AfCFTA Sec. Gen. tells Africa
African Continental Free Trade Area

Industrialise to be competitive – AfCFTA Sec. Gen. tells Africa

by SAT Reporter
June 29, 2022
Next Post
African tourism sees 12% jump in 2021 but remains well below pre-pandemic levels

African tourism sees 12% jump in 2021 but remains well below pre-pandemic levels

Premium Content

Executive director in the Ministry of Agriculture, Water and Forestry Percy Misika

Namibia, FAO launch farmers’ support project

April 29, 2022
Zambia adjourns creditor meetings to defer Eurobond payments

Zambia adjourns creditor meetings to defer Eurobond payments

October 22, 2020

Burundi expels national WHO head during election campaign

May 14, 2020

Browse by Category

  • African Continental Free Trade Area
  • African Start ups
  • Algeria
  • Analysis
  • Angola
  • Asia
  • BOTSWANA
  • Botswana
  • Burkina Faso
  • Burundi
  • Business
  • Business
  • Cameroon
  • Central Africa
  • China
  • Climate Change
  • Climate Changev
  • Congo Republic
  • COVID 19
  • Culture
  • Democratic Republic of Congo
  • Eastern Africa
  • Egypt
  • Entertainment
  • Environment
  • Ethiopia
  • Europe
  • Fashion
  • Finance
  • Food
  • Food and Drink
  • Foods
  • Ghana
  • Global
  • Guinea
  • Health
  • Immigration
  • in Southern Africa
  • International news
  • Just In
  • Kenya
  • Lesotho
  • Libya
  • Life Style
  • Lifestyle
  • Malawi
  • Malawi
  • Mali
  • Markets
  • Middle East
  • Mozambique
  • Namibia
  • Nigeria
  • North Africa
  • Opinion
  • Politics
  • Rwanda
  • Senegal
  • Seychelles
  • South Africa
  • South Sudan
  • Sports
  • Startup Africa
  • STOCK EXCHANGE
  • Tanzania
  • Tech
  • Togo
  • Travel
  • Travel
  • Tunisia
  • Uganda
  • Uncategorized
  • West Africa
  • World
  • World
  • ZAMBIA
  • Zambia
  • ZIMBABWE
  • Zimbabwe

Browse by Tags

African business news Africa New Africa News african footballer African investments african markets African news African start-up banking Business China Classic Content currency Egypt Explore Bali Finance football Life Style mali news Markets Market Stories Namibia news Nigeria Oilandgas Opinion Pandemic Politics Premium reserve bank of Zambia Russia South Africa Southern African News sports Stay Home Travel United Stated Vaccine Work From Home Wuhan Zambia Zimbabwe Zimbabwe Harare Manufacturing Africa Employment creationn Zimbabwe job creation

WHO WE ARE

The Southern African Times is a regional bloc digital newspaper that covers Southern African and the world news. The paper also gives a nuanced analysis on news and covers a wide range of reporting which include sports, entertainment, foreign affairs, arts and culture.

Facebook Twitter Youtube Instagram Rss

Copyright © 2022 The Southern African Times | Powered by The Southern African Times

Privacy Policy

Terms and Conditions

  • Home
  • Southern Africa
  • Global
  • Business
    • African Start ups
    • African Continental Free Trade Area
  • Tech
  • Opinion
  • Sports
  • Lifestyle
    • Health
    • Culture
    • Food and Drink
    • Entertainment
  • SAT Jobs

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?