Global Talent Tribulations May 27, 2008 Edited by Jeremy Cohen
Globalization is viewed by top executives worldwide as an ever-growing, cross-industry business challenge that's here to stay—and nowhere is that more acutely manifested than in the search for new talent.
According to a new study by EquaTerra and World 50, some 90% of respondents viewed globalization as inevitable, while 72% agreed that it is likely to have a positive overall impact on their companies. But regardless of the apparent overall optimism, 44% of respondents also made clear that finding and retaining high-quality talent is their number one concern over the next three years.
This was true among study participants at all levels and across all geographic regions. Notably, executives based in North America were 12% more likely than their European counterparts to cite globalization as making it more difficult to find and retain local staff with required skills and experience, highlighting current issues within the tight North American labor market.
"These study results give us a detailed and realistic gauge of how executives perceive globalization, and what decisions they are making in reaction to it," says Mark Toon, CEO of EquaTerra. "It is certainly clear that globalization is fast changing the dynamics of the world economy. And this, in turn, is driving a worldwide quest for talent across all business sectors."
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