Call to think globally
COMPANIES need to think and operate globally to address increased unemployment worldwide, recruitment firm Hays says.
It has developed a five-point plan for discussion among world and business leaders in anticipation of how to employ a dramatic increase in the global working population.
It believes co-ordinated action is needed to avert future labour crises, with the working-age population expected to increase by more than a billion people in the next 20 years.
It says all the growth will occur in developing economies while skill shortages will continue in developed nations.
Chief executive Alistair Cox says the growth in the Chinese population is well understood but its working population will plateau and decline, as will occur in many western countries.
Yet it is not as understood that India, Africa and South America will have millions of working-age people who, at this stage, will not be meaningfully employed, he says. ‘‘That is a huge opportunity if governments and businesses get it right but a big social problem if we get it wrong,’’ he says.
‘‘Only by thinking globally can governments and companies put in place the environment to . . . create the basis for full employment and a sound global economy.’’
Hays believes national borders should be kept open for skilled labour to move around among opportunities. The firm says an international code needs to be developed to facilitate employee migration and more investment is required in training and education.
Employment opportunities also need to be created in developing countries and more work is required to retain older people, such as baby boomers, in the workplace.