?Businesses around the world are currently experiencing a profound market shift which will impact the supply and demand for skilled talent over the next decade, according to the research study, Global Talent 2021. The study was conducted by Oxford Economics in partnership with professional services company Towers Watson and other firms.
?The research study shows that while technology fuels demand for highly skilled employees, emerging economies, technology advancement, are increasing the supply of talent by giving greater access to education.
?The study, which surveyed 352 human resource executives for overall plan for managing its human capital, examines how rapid globalization and the transformation of business models in virtually every industry will affect workforce needs in the future, and the implications for senior business executives and their HR leaders.
?This transformation in supply and talent leads to announce a new era of complexity, change in business strategies and the way we look at industrial development skills.
?As the skills employers require become more complex, shortage in labour are projected in many mature markets, including the U.S., Germany, Canada, and Italy. Meanwhile, a surplus of skilled talent is likely to emerge in locales such as Brazil, Colombia, India and South Africa.
?Skills like Digital knowledge, agile thinking, interpersonal and communication skills, and global operating capabilities will be talent areas in high demand. In a bigger picture these would be required a global redistribution of key skill sets.
?Demand for workers is already noticeable in emerging markets, and Asia where the need of employees will rise (22%), outsourcing of manufacturing jobs will go from developed to the emerging countries and likely to shrink in mature economies.
?In the developed world, where talent shortages in a number of managerial and technical fields are expected to persist, companies will be forced to think more explicitly about the trade-offs among outsourcing work, off shoring staff and retraining workers.
