One example of this effect is the global talent crisis, with warnings that by 2030, more than 85 million jobs could go unfilled because there aren’t enough skilled people to take them. In the wake of the Great Resignation, Apac employees feel ready to test the market in search of better pay and more meaningful work. Further, a workforce survey by PwC revealed that employees with specialisation are increasingly in high demand in the region and we keep seeing this play out in many sectors, but most prominently in technology. In fact, IDC reports that 53% of organisations in Apac are now taking three to four months longer compared to a year ago to fill technology roles.
Since the middle of last year, the world has been braced for an impending recession and this has had a significant impact on consumer and business confidence. Although according to some analysts, Asia Pacific (Apac) economies are likely to avoid a significant downturn despite facing headwinds from higher interest rates and slower trade growth.
Despite the optimistic outlook, Apac is certainly not immune to disruptive global forces. We only need to look back at the recent collapse of Silicon Valley Bank (SVB) and tumbling stock prices of other financial institutions, to know that such crises can cause ripples or waves across the globe.
