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Talent Shortage Crimps Emerging Market Growth

Posted By Guy Pfeffermann, Thursday, May 19, 2011
Updated: Thursday, January 31, 2013
Guy PfeffermannChina, 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 2010"

"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.

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