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Online networks may overcome labour shortages and integrate a global pool of talent

 

8 March 2007   Category: Capital allocation and remote services, Digital Ecosystems, Economic development, Equity Market 3.0, Health 3.0 National industry and patient medical record collaboration, Web 1.0 Intellectual property vs. Web 3.0 Community knowledge, Web 1.0 proprietary hierarchies vs. Web 3.0 community networks   1 Comment comments

Global trends in energy, McKinsey Quarterly 2007 Number 1, Ivo J. H. Bozon, Warren J. Campbell, and Mats Lindstrand

Extract:

“The battlefield for talent: In the coming decade, a global strategy for talent will be as important to many companies as a global strategy for sourcing or manufacturing is today. Two themes stand out. First, the growth of knowledge-intensive industries underscores the importance and scarcity of well-trained employees. Second, the integration of global labor markets is opening up vast new sources of talent. Indeed, more than twice as many university-educated young professionals—33 million—are available in developing countries as in developed ones.“

    New technology provides a new way to access the global pool of labour. Online networks will be key to accessing talent and provide immediate talent for short and specific projects. The information technology industry is one of the first to access the global talent pool. The primary motivation has been lower costs. As time passes, it will become a necessity. Retiring baby boomers and demographic shifts will mean chronic labour shortages in developed countries. Companies in developed countries will need access to the 33 million university educated professionals working in the developing world. Immigration can only solve a proportion of the problem. Online networks will be an essential tool to find and coordinate delivery of talent from the developing countries to global projects. This international talent pool will deliver services to every industry on every continent. Organisations will need to know how to participate in, or build, an online network to access this resource.

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    Copyright 2007 Open Networks Institute

 

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