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Global Talent Risk – Seven Responses

Global Talent Risk – Seven Responses. World Economic Forum, Geneva, 2011. Pages: 48.

In the newest report from the Geneva-based World Economics Forum, the ubiquitous concern regarding a shortage in highly skilled workers in developed countries is critically scrutinised from an economic perspective. Nevertheless, this report draws upon research asserting that the talent shortage can be attributed to the qualitative disparity in educational systems in the northern and southern hemispheres. Moreover, the scarcity of qualified applicants is expected to be concentrated among highly skilled occupations, for which skills and competences are likely acquired in tertiary-level education.

The report puts forward seven preferred responses to the current and imminent global talent risk, some of which are the

  • abatement of strict migration laws;
  • encouragement of brain circulation, rather than brain drain;
  • expansion of employability for current and future workers (e.g. improving education systems and promoting lifelong learning, etc.) and
  • recognition of under-utilised groups (e.g. women, older individuals,  immigrants, etc.) as sources of available and future talent.

The report goes on to note that the lack of talent is a crisis not isolated to one region, but one that will be evident on a global level, and one that has yet to peak. Moreover, the report foresees that the global shortage of talent will force governments to re-evaluate their education and migration policies in order to fill positions within highly skilled occupations, for which demand will undoubtedly increase in the coming decades.

World Economic Forum