CXC Global believes the global economy could be facing a severe shortage of skilled contractors if some of the upcoming planned megaprojects actually happen. The warning comes as the company is aware of a number of transport and infrastructure projects in the pipeline across the globe, which could bring considerable demand for expert contractors in the near future. However, the contractor management specialist has warned that if even a small percentage of these projects do take place, it could potentially lead to a severe shortage of skilled professionals.
“Let’s not pretend that this is an immediate concern, the projects that we’re talking about are long-term and will take a number of years to complete, and that’s if they’re even commissioned,” says Michelle Reilly managing director of CXC Global. “However, if even a small number do take place concurrently there could be real stress placed on the contracting market, particularly within sectors such as engineering and construction.
“Reports of the planned TERP (Trans Eurasian Belt Development) rail and road link that could connect Russia and Alaska are unlikely to become reality anytime soon,” Reilly notes. “However, schemes such as the Delhi-Mumbai industrial corridor and Centenary City in Nigeria – that are already underway – and projects closer to home such as the development of the HS2 rail line and the London airport expansion will require a huge number of specialists and this could prove challenging for the contracting market.”
Reilly believes firms in the Middle East and Asia, in particular, will need to hire huge numbers of skilled contractors of which there is a finite supply. “We’d urge businesses to revaluate the effectiveness of their talent pipelines and look to plan to the future to ensure that they’re not the ones suffering when the shortage of talent clicks in,” she concludes.
With over 60 compliant country solutions around the world, CXC Global is a leading supplier of contingent workforce solutions. With an unmatched suite of managed services for employers, contractors and recruitment agencies, CXC Global helps thousands of organizations and individual contractors decrease costs and increase profits by providing innovative contractor management, compliance, payroll and remuneration solutions, risk mitigation and salary packaging solutions.