Hays plc, the global specialist recruiting firm, has called on governments and industries across the world to take joined-up action to tackle the looming threat of increased global unemployment as the world’s working population is set to increase dramatically. With many countries already at record levels of unemployment, co-ordinated action needs to be taken now to avert future labour crises as significantly more people are set to join the global labour force. To this end Hays has developed a Five Point Plan.
Hays, which placed more than 230,000 people in work across 30 countries in 2010, has published a seminal report; Creating Jobs in a Global Economy, compiled in partnership with economic forecaster, Oxford Economics, illustrating the challenges ahead for employers, employees and governments across the world.
The report forecasts the dramatic movements of workforce, power and wealth across the globe over the next 20 years. The world’s working-age population is expected to increase by over a billion people in this timeframe. However, all of this growth will be developing economies. The developed world will see its workforce shrink and age.
Governments and industries must start to plan now how they will deal with this imbalance, both to harness the economic potential that this larger workforce can provide as well as creating the skills that will otherwise become in increasingly short supply in many areas. Developing markets will face a period of rapid industrialisation and infrastructure construction which will require access to skilled and experienced workers currently unavailable in sufficient numbers domestically. Similarly, the developed markets will need to find ways of maintaining their competitive edge in key industries by investing in the future skills required, albeit against a backdrop of a smaller and older pool of workers.
Alistair Cox, CEO, Hays, said: “Our report illustrates the profound and stark challenges our world will face in the future both to create employment opportunities for a billion more people and balance the mismatch we are already seeing between supply and demand of key skills. Only by thinking globally can governments and companies put in place the environment to solve these conflicting challenges and create the basis for full employment and a sound global economy.”
The report demonstrates the need for employment policy to be discussed at the G20 in Mexico and at the WEF next year. Cox added: “Everyone is talking about the growth in the Chinese population. The fact is that China’s working age population is set to plateau and then decline in our generation, just like many countries in the West. No one is yet talking about how industries will employ the extra billion people who will soon be looking for work in India, Africa and South America. That is a huge opportunity if governments and businesses get it right, but a big social problem if we get it wrong.”
‘Creating Jobs in a Global Economy 2011-2030’ follows the publication last year of ‘Action on Skills and Jobs: The Hays Manifesto for Employment’ which outlined the actions needed to create a healthy employment market in the UK.
Via EPR Network
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