News
Supply and demand of talent to shift globally
Published on 24th July 2012 by Grace McGillick
There is an anticipated global shift in the supply and demand of talent in the next decade, Grapevine reports.
The workplace will change dramatically over the next decade as developments in both education and technology will push a shift in the supply and demand of talent, according to research published by Oxford Economics alongside Towers Watson.
A global survey of human resource executives and multinational businesses has suggested that differing market balance between supply and demand of talent with have a significant effect on the global workplace.
The survey states that the speed of development within business technology will push demand for technology literate talent. This will be balanced with greater access to education in emerging economies, therefore shifting the emphasis on where the world's leading companies search for talent.
Labour shortages are expected to occur in many mature markets, like the US, Germany and Canada, whereas a surplus of talent will be produced in Brazil, Colombia and South Africa.
Arvinder Dhesi, UK Director of Talent & Organisation at Towers Watson, says: “The dynamic changes in global economics and ever-evolving technology necessitate that companies rethink how they address their shifting talent needs. Some of these changes run counter to what most companies have been experiencing in various markets.
“These new realities make it incumbent on HR executives to consider new and creative ways to access talent across the globe.”