What Talent Wants
Companies and countries will compete for the best and the brightest. Talent scarcity is driving the growth of an internationally mobile creative class that encompasses five generations of workers.
Competition for talent will come not only from the company down the street, but also from the employer on the other side of the world. It will be a seller’s market, with talented individuals having many choices. Both countries and companies will need to brand themselves as locations of choice to attract this talent.
The millennials, a generation born digital, are completely at ease with technology and will have a much stronger impact on social behaviour than we currently assume. As they enter the workforce, they represent a huge engine of transformation for every institution — public and private.
What’s your perspective on the future? How you think is how it shall be. Are we standing on the precipice of doom and gloom or is this the vantage point of what could be the greatest potential the world has ever known? Who’s your peer group what do you think?
Amid the doom and gloom that I hear every day from the Boomer and previous generations there is a ray of hope. And that ray of hope is the talent of the Millennial generation which is positioned to utterly transform the world. The Millennials have two enablers that previous generation did not have. First, they have technology which places them on a trajectory of having the world’s knowledge at their fingertips. Second, unlike previous generations who lived in a neighborhood, city, or state the Millennial’s live globally, always connected, and together. The synergy of technology, knowledge, and collaboration will give the Millennial generation a creative advantage possessed by no previous generation.
The Millennial worker will not necessarily “go to” a workplace as understood by previous generations. They will work virtually and globally. There may be “no place” to go work. With an internet connection you are already there – where ever you are. Will the Millennial workers have a domestic or country identity? Why? If there is a global demand for talent and you can work (virtually) anywhere then how does a domestic or country identity make any sense? Will countries be reduced to brands like Google and Apple that compete for talent? To previous generations companies competed for talent that was local or at least in the same city, state, or country. But when the demand for talent is global why not “go” to where the demand exists – no matter where on the planet the demand exists? In the supply and demand for talent are country borders of any concern? For Millennials, talent will be highly mobile. Millennials will also challenge the concept of a company or firm in the
traditional sense. Why have traditional corporate structures with brick and mortar buildings? Millennials using the technology and the global connectedness they grew up with can easily assemble themselves from any part of the globe to form project teams, working groups, and organizations as they see fit – and then tear them down and reassemble with another configuration as needed. Talk about agility compared to a traditional company!
The combination of technology, global communication, the world’s knowlege at their fingertips, talent, salted with the prominence of social networks and global collaboration – wow. What sort of unstoppable force is this? Has any previous generation seen this potential as their future?
Future global economic prosperity will more depend on human capital than on financial capital.
What is the outlook for the global talent pool and what are the ways countries can mitigate the risk of a global talent shortage?
Read a study from the World Economic Forum –
Global Talent Risk – Seven Responses