TRADE & FINANCE
INSPIRING
TALENT
STRATEGIES
BY FOSTERING
EMPLOYABLE
SKILLS
A blueprint for aligning education to companies’ needs.
ALAIN DEHAZE
CEO of The Adecco Group
@AlainDehaze
38
Few countries better illustrate the
challenges facing governments trying
to shape their workforces than China.
With a labour force of 804m, the
most populous nation on Earth wants
to shift from an export driven model
based primarily on investment in
infrastructure and capital goods to
a more balanced economy featuring
with greater domestic consumption.
That, of course, is easier said than
done. For China, like almost all its
less populous peers, needs to nurture
workers with the right mix of talents for
the future. Even in China, with its vast
human resources, employers are starting
to complain about specific shortages.
That mismatch is not unfamiliar.
Globally, some 73m youngsters are
without jobs, just as 40% of employers
say they cannot find people with the right
ski lls. Such a misalignment spells a lack
of prospects for millions of people and
subpar growth for all.
As the world’s leading provider of HR
solutions, the Adecco Group sees every
day the urgency of adjusting education
and employment policies to meet future
needs. We are all living longer, just as
birth rates are falling. By 2030, the surplus
of labour evident today will have turned
into a massive shortfall. By 2035, those
aged 65 and above will be the fastest
growing slice of the population. The effect
will be particularly acute in countries
like China (labour shortfall of 24.5m by
2030) and Germany (10m shortfall). More
than ever, countries’ openness to labour
mobility will affect their ability to tackle the
skills gaps and productivity issues of an
ageing population.
Secondly, the composition of the global
workforce will change. Demand for labour,
combined with an ageing population
and ever better healthcare, will see
mature workers postponing retirement.
Employers will for the first time be facing
three or even four different generations
at work. And for governments – not just
in Beijing, Berlin or Tokyo – activating
the mature workforce will be crucial to
addressing employment challenges.