<p>U S President Barack Obama may not want jobs to be Bangalored. He may have raised shrill pitch against outsourcing catering to political and social constituents’ compulsions.<br />However, in a trail-blazing recommendation and very anti-thesis of Obama’s posturings of providing jobs for locals first, a World Economic Forum (WEF) study, in collaboration with The Boston Consulting Group, has made out a strong case for fostering talent mobility. <br /><br />“The talent shock is coming. It will arrive in years, not decades, regardless of current economic crisis. It is time for all involved stakeholders to ally forces and prepare for an era of extreme labour scarcity, significant talent mobility and truly global workforce,” says the study. <br /><br />The study — Stimulating Economies through Fostering Talent Mobility, noting “mobility is a central part of life” sounds the warning bugle that “unless nations, companies, policy-makers and academic insutitutions all ally to design inclusive, modern human capital strategies, coming decades — 2020 & 2030 will face real talent crisis. This, in turn, would become a barrier to sustainable growth and post-crisis recovery.”<br /><br />The report also said that contrary to conventional wisdom, greater mobility of talent can benefit both nations that receive talent (typically developed economies) and sending nations, especially large nations such as India. <br /><br />Concerted cooperation<br />Calling for concerted, multi-stakeholder, systematic process of co-operation and dialogue to put in place mutually relevant policies and newly designed regulations, it says, talent mobility is one way to provide missing skills where there are needs. “It is critical now,” than later, “to raise awareness of severity of upcoming talent crisis before it strikes, so preventive actions can be taken,” it observes. <br /><br />Stating that global economy is approaching a demographic shock of a scale not observed since the Middle Ages, the study says, human capital will soon rival — and may even surpass — financial capital as critical economic engine of the future. Observing that numerous organisations will be unable to find enough employees in their home turfs to sustain profibility and growth, it says, the scope of the challenge is so broad that no single stakeholder can solve it alone. <br /><br />Among slew of steps, it suggests, include designing migration policies in collaboration with employment and social agencies; promoting representation of foreign workers in both political and corporate decision-making bodies; integrating migration into development strategies; designing and promoting talent mobility programmes. <br />The development of intelligent high-skill migration policies should be priority for countries while eschewing short-term protectionist policies, it succinctly says in summation. <br /></p>
<p>U S President Barack Obama may not want jobs to be Bangalored. He may have raised shrill pitch against outsourcing catering to political and social constituents’ compulsions.<br />However, in a trail-blazing recommendation and very anti-thesis of Obama’s posturings of providing jobs for locals first, a World Economic Forum (WEF) study, in collaboration with The Boston Consulting Group, has made out a strong case for fostering talent mobility. <br /><br />“The talent shock is coming. It will arrive in years, not decades, regardless of current economic crisis. It is time for all involved stakeholders to ally forces and prepare for an era of extreme labour scarcity, significant talent mobility and truly global workforce,” says the study. <br /><br />The study — Stimulating Economies through Fostering Talent Mobility, noting “mobility is a central part of life” sounds the warning bugle that “unless nations, companies, policy-makers and academic insutitutions all ally to design inclusive, modern human capital strategies, coming decades — 2020 & 2030 will face real talent crisis. This, in turn, would become a barrier to sustainable growth and post-crisis recovery.”<br /><br />The report also said that contrary to conventional wisdom, greater mobility of talent can benefit both nations that receive talent (typically developed economies) and sending nations, especially large nations such as India. <br /><br />Concerted cooperation<br />Calling for concerted, multi-stakeholder, systematic process of co-operation and dialogue to put in place mutually relevant policies and newly designed regulations, it says, talent mobility is one way to provide missing skills where there are needs. “It is critical now,” than later, “to raise awareness of severity of upcoming talent crisis before it strikes, so preventive actions can be taken,” it observes. <br /><br />Stating that global economy is approaching a demographic shock of a scale not observed since the Middle Ages, the study says, human capital will soon rival — and may even surpass — financial capital as critical economic engine of the future. Observing that numerous organisations will be unable to find enough employees in their home turfs to sustain profibility and growth, it says, the scope of the challenge is so broad that no single stakeholder can solve it alone. <br /><br />Among slew of steps, it suggests, include designing migration policies in collaboration with employment and social agencies; promoting representation of foreign workers in both political and corporate decision-making bodies; integrating migration into development strategies; designing and promoting talent mobility programmes. <br />The development of intelligent high-skill migration policies should be priority for countries while eschewing short-term protectionist policies, it succinctly says in summation. <br /></p>
