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The global skilled talent shortage is having a significant impact on projects all over the world. As high as 3 in 4 projects suffer delays due to project resourcing issues.
For major projects, the lack of skilled talent is a catastrophic problem. As high as $1 trillion are tied up in major engineering and natural resources projects around the world as participating companies struggle to find the required talent to complete the job.
Companies are finding most traditional approaches to major project staffing are becoming more difficult. Even in countries with high unemployment rates, finding local talent with the right skills can be nearly impossible. Companies need to rethink how they approach major project resourcing and learn how to compete globally for the best talent.
We have entered a new era where a company’s ability to retain skilled talent will dictate their overall success. Those that can effectively compete for top talent around the globe will win while those that can’t transition to this new hyper competitive resourcing model or can’t leverage global delivery models will struggle.