The world map shows either lack of quantity or lack of quality. This imbalance is critical. Urgent measures are required in order to develop, retain and attract talents who generate productivity and competitiveness.  

By Martin Padulla

In other occasions, I have stated that we cannot think about inclusive societies without investing on human capital. We have also showed the direct correlation there is between education and training imbalance and business productivity and regional competitiveness.

If we analyse our societies, the lack of educational quality (either public or private) undoubtedly is the main cause of inequity.

During the 10^th Eneduc Education and Business Meeting, organized by the prestigious institution SOFOFA in Chile, it was established there is an urge to design opportunities of productive, flexible and dynamic technical training, which provide workers and entrepreneurs  with better and more skills.

This global disparity is growing and with it, the “battle” for talent shall become more evident. While in the northern hemisphere there is a clear talent scarcity, in the southern hemisphere we have a serious problem of employability.  We are facing an equation of lack of quantity vs lack of quality.

By 2030 it is expected that the United States will have a need of 25 million extra workers in order to sustain economic growth. By 2050 Europe will need 35 million to fill the employment gap that shall be demanded. In the southern hemisphere it is estimated that there will we an excess of workers who will not be qualified to develop in labour markets. Every year, 45 million workers will struggle to enter the global labour market, and most of them will be young people from developing countries.

This means that we need to start using every mechanism that: adapts training contents to what the demand is requiring; creates bonds between public and private employment agencies so that they work together during these transitions; encourages diverse modes of formal hiring; enhances entrepreneurial spirit; promotes the creation of companies; develops a regional environment that strengthens creative energy and facilitates productive investment.

If we observe the case of South Korea, a country that in 30 years became a world power by developing skills, it seems obvious that we need to create opportunities of continuous education based on three main pillars: foreign languages, technology and interpersonal skills.

Although this great effort will be necessary, it shall not be enough.

If we win the employability championship, if we achieve to increase the percentage of Latin Americans who are adequately trained to face the demands of the productive system, we still have a challenge ahead: getting those skills to develop in the region instead of moving to countries where talent’s scarcity is a reality.

It is about generating policies that create, retain and attract those talents who will in charge of generating productivity for our companies and competitiveness for our countries. This is vital, as those same talents will be the most demanded by the World.

In times of economic slowdown and reforms in certain Latin American countries, it is very important to do an impartial analysis of labour markets and the global economy so that concepts such as social inclusion or justice do not become void of content.

About Martin Padulla

Managing Director of staffingamericalatina. Martin Padulla is Sociologist (USAL), MBA (UCA) and labour markets expert. He published “Flexible Work in South America” and “Regulatory framework for private employment agencies in Latin America” two books about the new realities of work in Latin America.

mpadulla@staffingamericalatina.com

About staffingamericalatina

It is the unique independent digital media specialized in Latin American´s labour markets.

Produce and spread contents, researches and developments about issues such us Employability, Youth Employment, Training for Employment, Decent Work, Private Employment Agencies, Active policies for employment, Teleworking, Public and private actions for the creation of decent work, Green Jobs and Corporate Social Responsibility.

It is the meeting point for companies, providers, candidates, service´s companies, academics and independent professionals of Latin America.

Follow staffingamericalatina on Twitter: @staffingal