India, Brazil, Sub-Saharan Africa and other emerging economies have been
growing at rates that would have seemed miraculous not so long ago. Meanwhile
most industrial countries’ growth remains depressed in the wake of the crisis
of 2008. Two articles in the Financial Times this week warn that continued
rapid growth in emerging markets will require much greater efforts to broaden
and deepen local talent pools:
From Human Resources: power to the people
"A global survey of 700 chief executives, published last month by the
Conference Board, the US business research group, found that talent – how to
find, keep, grow and reward it – was the second most pressing challenge; those
in Asia went further, rating it their number one issue. "Talent was not even in
the top seven challenges globally in the previous two surveys,” says Rebecca
Ray, vice-president and managing director of human capital." Click to read the full article.
From Talent Shortage adds to Growth Strains
"While the global economic downturn may have masked the talent shortage for
several years, the global recovery has made the strains of the talent shortage
more evident,” the report notes.
"In India, companies say the skills shortage is broad-based. "It’s not
specific to any sector – it goes across the board,” said Vikram Badshah, chief
of corporate relations for Calcutta-based RPG Enterprises, a conglomerate with
interests ranging from retail to infrastructure."
"In Brazil, skills shortages have pushed up wages and inflation and
decades of underinvestment in education and professional training have left the
economy struggling to sustain its pace of growth, which hit 7.5 per cent in
"Globally, 34 per cent of employers reported a lack of qualified job
applicants, up from 31 per cent last year and the highest level since
2007." Click to read the full article.
Global Business School Network’s raison d’être is to generate leaders
and managers for the developing world. We draw on the amazing experience of
over 40 of the world’s top business schools in industrial and developing
countries. Together, we deepen and broaden tomorrow’s talent pool, which
developing country businesses, NGOs and governments so badly need.
Our work to develop the Karachi School for Business and Leadership
(KBSL) in Karachi, Pakistan addressed just such a need. Business leaders were
looking around for management talent, and not finding it, worked with GBSN to
bring together experts from 12 nations, who provided the guidance necessary to
establish a now thriving business school.
In fact, this idea of increasing human capacity for emerging markets is the
theme of our upcoming conference in Mexico City. I look
forward to sharing ideas with experts in business and education from around the
world about how we can address the talent shortages that are stalling the
promising surge in growth in these developing nations.
Guy Pfeffermann is the founder and CEO of the Global Business School Network.