More companies are tapping into overseas talent to deal with a lack of qualified workers in North America, according to a Deloitte & Touche LLP survey. The firm's Technology Fast 500 CEO survey shows 55% of CEOs plan to offshore talent in the next five years. Thirty percent of respondents also say by 2012 they plan to offshore up to 10% of their workforce, while 27% say they'll offshore up to 20%. Less than one-fourth of respondents (20%) plan to offshore up to 30% of their workers, and 15% expect to offshore up to 40% of their workforce.
The trend coincides with a struggle to find skilled workers. Nearly half of those surveyed (48%) say locating and retaining qualified employees is the greatest operational challenge they face, up from 41% in 2006.
"When it comes to talent, supply and demand are out of balance, making employees more like consumers," notes Jeff Alderton, a principal of Deloitte Consulting. "And like consumers, if employees with those in-demand skills sets are not receiving the satisfaction they seek from their workplace, they will find it elsewhere -- with the competition. This will put an even greater strain on employers for available talent."
Nearly two-thirds of employers say they're offering stock options as an incentive to attract and retain workers, while more than half are providing flexible work hours, according to the report.