Time & Attendance
By Staff Report
Jan. 10, 2011
Future labor and skills shortages among industrialized nations could be solved in part by boosting the global mobility of talent, according to a new report.
Global Talent Risk—Seven Responses, prepared by the nonpartisan World Economic Forum in collaboration with the Boston Consulting Group, analyzes projected talent shortages by 2020 and 2030 in 25 countries, 13 industries, and nine occupational clusters.
China will need to double its talent base by 2020, the report notes, while Canada, Germany, the United Kingdom and the United States will need to boost immigration limits and provide better educational opportunities for their citizens to balance the loss of talent from aging workforces.
In Canada, Germany, the United Kingdom and the United States, expected immigration and birth rates will not offset the workforce losses caused by aging populations, according to the report. The study adds that foreign-born workers with university degrees or equivalent qualifications make up just 2 percent of the European labor market compared with 4.5 percent in the United States and nearly 10 percent in Canada.
Improved education and training must go hand in hand with increased labor migration, the report concludes.
Members of the Global Agenda Council on Skills & Talent Mobility, as well as more than 100 experts, contributed to the recommendations in the report and to talent mobility discussions hosted by the World Economic Forum online and in gatherings worldwide during the past two years.
For information on the report, go to www.weforum.org.
Come see what we’re building in the world of predictive employee scheduling, superior labor insights and next-gen employee apps. We’re on a mission to automate workforce management for hourly employees and bring productivity, optimization and engagement to the frontline.
ComplianceMinimum Wage by State in 2023 – All You Need to Know
Summary Twenty-three states and D.C. raised their minimum wage rates in 2023, effective January 1. Thr...
federal law, minimum wage, pay rates, state law, wage law compliance
HR AdministrationIs your employee attendance policy and procedure fit for purpose?
Summary: Lateness and absenteeism are early warning signs of a deteriorating attendance policy. — More ...
compliance, HR technology, human resources
HR AdministrationClawback provisions: A safety net against employee fraud losses
Summary Clawback provisions are usually included as clauses in employee contracts and are used to recou...
clawback provisions, human resources, policy