Scarce skills refers to a shortage of people with the
required attributes to fill positions available in the
labour market. The attributes that employers are seeking
when they try to fill positions in their organisations are
specifically important. These may be qualifications,
specific skills and experience, a specific race or gender or
a combination of these attributes.
Scarce skills are normally expressed in terms of the
occupations for which there are not enough candidates
available. Scarce skills in the financial services sector
are mainly in the professional and technician and associated
professional occupations. Although these occupational
categories are experiencing above average growth, the
shortages are often related to very special skills sought by
employers. The lack of qualified black people, especially in
the higher level occupations and professional designations,
is considered a serious problem.
The Sector Skills Plan of Fasset, 2016 - 2021
indicated that shortages of finance and accounting services
skills exist at all levels – from clerical to technician,
and administrative to professional, and managerial.