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Global Talent Shortages Could Cost $85Trillion Says PI Report

Global Talent Shortages Could Cost $85 Trillion by 2030; Predictive Index Report Offers Steps

The Predictive Index (PI), the data-driven HR platform used to hire top performers, develop effective managers and retain your people, unveiled its latest report, HR Field Guide to the Future, an insightful resource designed to equip HR leaders with the tools to navigate the most pressing talent and workforce challenges.

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Drawing on insights from over 200 HR and business leaders, this guide focuses on five critical areas impacting the future of HR through 2030. The report provides actionable strategies for HR teams to assess risks, prepare their workforce and better understand the costs of inaction, covering topics such as:

  1. Dealing with talent shortages: While 55 Percent of companies excel at peer mentoring, most lack programs for addressing skills gaps and AI training.
  2. Human + technology integration: Organizations are divided on AI policy needs — 51 Percent say policies must evolve for AI adoption, while 49 Percent believe current practices suffice.
  3. Guarding against generational drift: Approximately 91 Percent of leaders identify communication as a key competitive differentiator.
  4. Contending with corporate backlash: Another 91 Percent of respondents see a direct correlation between flexible work options and organizational health.
  5. Practicing stakeholder capitalism: Nearly nine in 10 report that social responsibility initiatives provide a competitive edge in talent acquisition.

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The report emphasizes the importance of proactive measures, like skills training, fostering psychological safety, and aligning organizational values to attract and retain top talent. It also explores the nuanced balance between leveraging technology and maintaining human-centric workplace cultures.

“HR leaders today face a stark reality: you can’t solve tomorrow’s talent challenges with yesterday’s approaches,” said Dr. Matt Poepsel, Vice President & Godfather of Talent Optimization at PI. “Our research reveals that companies struggling with retention and performance aren’t failing in any specific area, but they’re missing how deeply talent shortages, technology adoption, and generational preferences are interwoven. The insights in this field guide give HR leaders a practical roadmap for using talent optimization principles to turn interconnected challenges into competitive advantages.”

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Source – Businesswire

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