(Bloomberg) — Japan is facing a severe shortage of skilled human resources in the technology sector, even as it seeks to digitalize its economy and revive its lagging semiconductor industry.
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According to new research from recruitment firm Morgan McKinley, three quarters of technology recruiting managers in Japan found recruiting to be “very” or “fairly” competitive last year, with a shortage of skilled candidates being the top reason. The report found that this trend is prevalent across industries, with 90% of organizations surveyed also facing competitive recruitment.
The report said that Japanese employers will have to speed up their recruitment process so that they do not lose out to their competitors. This is in stark contrast to the US, where 32,000 tech workers have already been laid off this year, and many job offers are still scarce.
In Japan in particular, the country has lagged behind in digital transformation due to a shortage of software engineers. The report recommends taking steps towards recruiting foreign workers, as 31% of technical hiring managers cited lack of skilled candidates as their biggest challenge this year. Japan’s population of foreign workers has been rising recently, surpassing 2 million for the first time as of October.
Lionel Cadatzis, managing director of Morgan, said, “A lot of organizations in Japan can certainly look outside and further afield, and I think they will probably find more skilled talent or perhaps individuals who have more exposure to cutting-edge technology. have experience.” McKinley Japan. “I think it’s improved, but I think it still has some way to go.”
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