How Can Talent Mobility Influence Global Economies?
Updated: Aug 24
Countries have relied on their ability to attract and retain skilled global talent to strengthen their economies in the post pandemic world. The use of global talent mobility has played a key role in making this happen. Even with pandemic required government lockdowns and the Great Resignation, talent global mobility has made significant strides in creating new ways to increase cross-border activity. This has resulted in bringing much needed skills and expertise to countries searching for top talent to secure their place in the new economy and world of work.
Today’s global workforce is about flexibility. From remote work and work from anywhere to employee engagement and wellbeing, new compensation strategies to upskilling and reskilling opportunities, employees to contingent workers, the ability for companies to adjust their global workforce strategies is paramount to remaining a key player in the war for talent.
What Countries Are Doing Today
Unheard of a few years ago, approximately eighty countries have adjusted their immigration regulations to accommodate the “global nomad” worker. This work visa status change is being adopted for workers to enter countries for remote working on a legitimate basis. Their collective goal is to attract highly skilled and globally minded talents needed to move across borders in quick compliance. The majority of this kind of talent are young, easily mobilized, and ready for the next career challenge. Global talent mobility has the ability to support this cadre of talent by facilitating overall moving requirements, cultural assimilation, and providing education on country guidelines,
Other Reasons for Flexibility
People are also considering an international move for a better quality of life, to increase their individual experiences, or be with family. While global companies tap into these resources as they increase their global staffing ‘net’ to meet business demand, countries must have the right living conditions, a stable cost of living, education, remuneration and tax rates to attract that talent.
Working globally does come with many challenges. Managing country regulations, adjusting to cultural norms, understanding a country’s infrastructure and leadership style are key. What is remarkable is during the pandemic, the desire to travel and move for work remained robust. Countries are unique and come with their own set up complexities which must be taken into consideration. The related relocation and assimilation processes must be well thought out and delivered on an individualized basis for greatest success.
The Future of Work
Global Talent Mobility continues to evolve with companies and countries sharing the goals of acquiring and retaining top talent. The world itself is the new workplace and those companies and countries that flex to this new paradigm will win the war for talent.
MSI’s Global Talent Mobility Strategy Consulting and Advisory Team supports the design and development of future-focused mobility programs that align to HR, Finance, and your workforce goals. Our focus is helping organizations optimize and develop long range strategies for success.