They expect it to harm their businesses in the next three years.
Talent management firm KellyOCG revealed in a survey that 75% of Singapore's C-suite leaders expect talent shortages to negatively impact their businesses in the next three years.
The survey results were revealed through its Workforce Agility Report. C-suite leaders were asked about talent acquisition practices.
Moreover, only 50% use human resources (HR) during business strategy development, compared to the 53% rate in Asia Pacific.
Only 10% of C-suite leaders believe that their HR functions can provide strategic workforce insights.
More business leaders are also relying on freelancers, with 85% that said they expect to add to their pool of contingent workers.
"In order for businesses to leverage the benefits of having an agile workforce, HR must be at the boardroom table as a strategic advisor to their C-suite leaders, aligning workforce strategy with business strategy," KellyOCG said.
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