The Global Skills Convergence
KPMG recently released a study on Global Skills Convergence (Sep 2008).
The Global Skills Convergence publication argues that there is a demographic faultline running through much of the developed world which will impact negatively on the supply of labor and talent during the next decade. The lengthy 50-page report
- gives a good overview of the labour market outlook for countries from 1950 – 2050 (see maps on Pg 8-12)
- introduces concept of demographic fault line (point where Boomers exit, Gen Y-ers enter, and Gen X-ers trapped in between)
- tries to integrate key publications, eg. Friedman’s “World is Flat”, and Florida’s “Creative Class” into the findings
- provides a snapshot of global migration flows, where the net gains and losses are (map Pg 22-23)
- discusses skills convergence and reasons for migration
- suggests that MNCs will undergo exponential growth and continued expansion; estimates that MNCs currently employ 90mil (3% global workforce; or 20% non-agri workforce); predicted to increase to 10% global workforce
- shares interview responses on Gen-Y and HR/ corporate responses; notably Millenniums and how to manage them (eg. recruitment strategies, international assignments, expectations etc).
KPMG has accessed, with permission, unpublished data from the United Nations Population Division which shows the net flow of migrants between a range of countries this decade and again ten years earlier. The argument advanced in this study is that in the 21st century, labor and talent is increasingly able to flow seamlessly across the globe.