Demographics – Urban and Rural
EkaLore has been releasing our notes on global enterprises identifying, recruiting/accessing, and applying the right talent for many processes. In this release, we discuss current pressures to have the right talent in challenging times.
Outsourcers are seeing shifts in global demands for talent and simultaneous demands on costs. The global effects on hunting talent are magnifying the local (domestic) hunts.
Cost pressures on enterprises are forcing changes in the way workforces are recruited and retained. Large global tech enterprises, used to a certain level of ‘employee churn’, have been slowing hiring and contracting. (http://bit.ly/3gMe2qj) Cost pressures are forcing G7 enterprises to seek talent pools in other jurisdictions. Even traditionally low cost talent pools (e.g., India, China) face competition from even lower cost challengers (low cost EU locations, South America, and other Asian countries). Premiums for educated workforce participants (from social investments in the last 20 years) are creating competition.
Cost pressures force enterprises to more closely consider the question – of whom to keep and whom to cut. Location (market) pressures also affect where to cut and when can cuts happen. Adding to this complexity are cultural, technical, and market pressures to have the ‘right talent’. Outsourcers are an early warning sign of managing talent globally.
The first piece in the series – Outsourcer’s Dilemma can be found at www.ekalore.com/india-business
Our next piece will explore how demographic trends are pressuring the talent pool in the G7 and beyond.
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