Egypt’s top companies complain about skill shortage as employment increases

Leading companies in Egypt are facing serious shortage of skills in the recruitment process, US-based online Nexford University has revealed in a report, Zawya reports.

A survey conducted by the Washington institution that defines itself as a breeder of “leaders not followers”, shows that 78 percent of companies, including PWC, Pfizer and the National Bank of Egypt, have difficulties to find the right set of skills in areas like digital transformation, digital marketing, and the knowledge and practice of business analytics.

Commenting on the report published Wednesday, Nexford University boss, Fadl Al Tarzi argued that the skill shortage will widen due to the accelerating pace of technology disruption.

“This eye-opening data is consistent with trends we’re seeing across the world, including in the US,” he stressed.

The report also revealed that almost half of the employers interviewed said they were looking to hire full-time staff in the next twelve months; however, their recruitment efforts are derailed by a dearth of skills across various sectors, Zawya notes.

Sixty percent said that sales and marketing positions are “extremely difficult to fill”, while more than half complained that candidates with a solid knowledge of business analytics remain a rarity in Egypt, the report insists.

The majority of companies also expressed concerns regarding their current staff that they believe lack some necessary skills including creative thinking, time management and problem solving.

Fifty-one percent of employers, reportedly, are however willing to sponsor upskilling programs for their employees.

Egypt is struggling with two-digit unemployment rate, still on the increase. Last year, the Arab country posted 10.45 per cent unemployment.

 

Authorities however are targeting 5 per cent by the 2030 through the much-celebrated strategic vision for sustainable development.