62 days is average time to fill one job vacancy in Kuwait
31.3% difference between wages and benefits offered
Dubai: The Kuwaiti labour market is experiencing a huge skills shortage largely due to a big gap in supply and demand, in addition to the instability of the market and the local economy, which shrank drastically because of the effect of the coronavirus pandemic.
According to a report by Procapita Management Consulting, the labour market in Kuwait has faced great challenges during the past two years, including the lack of competencies which stood at 59.7 per cent.
The report revealed that there is a huge difference of 31.3 per cent between wages and benefits offered due to the structural imbalance in the labour market.
The Procapita Management Consulting said that more than 220 companies from 12 economic sectors in Kuwait and Saudi Arabia took part in the report, which included talent management practices because of it is extreme importance to business leaders.
According to the analysis of Procapita’s Employment Administration database, the average number of applicants for each vacancy reached 146 applicants, ranging from 285 for newly-experienced and graduate jobs, to high-supply jobs that are widely available in the labour market, and up to only 7 applicants for leadership, executive and skills positions specialised that suffers from a great shortage and scarcity in the labor market.
Despite the increase in job applications, the extent of compatibility between job applicants and the requirements of vacant jobs (Matching Score) is still low, recording only 15 per cent, due to the lack of qualifications and experience required in the labour market in the various disciplines required by employers, and due to the high percentage of researchers From work, which reinforces the structural imbalance in the local market.