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UAE Launches New Visa Entry System to Attract Global Talent
In early February, the UAE Cabinet, presided over by His Highness Sheikh Mohammed bin Rashid Al Maktoum, approved an integrated entry visa scheme to attract highly skilled talent to the region. The plan will be implemented in phases, with the first phase including tourism, health and educational visas; and the second focusing on health, scientific, research, technical and cultural fields. The project is based on a re-launch of an entry visa program, which gained specificity by dividing the visa types into industry groups with specific limits. “The new system aims to attract entrepreneurs, pioneers and talented minds in the medical, scientific, research, IT and intellectual sectors,” Sheikh Mohammed noted. Understand more about the UAE visa entry system.
How to Prep for a Post-Brexit Talent Pipeline—in the middle of an already tightening skills gap and the departure of aging workers—is cause for consternation. The stats are concerning, as the UK’s population is expected to grow about three to five percent faster than its workforce between 2016 and 2030 (according to Mercer). That’s a situation that hasn’t existed in the UK since the 1950s and 1960s. If these figures pan out, by 2030, an extra 3.5 million people over age 65 will have an impact on individual consumption and corporate taxation to pay for health care and pensions. A rising talent shortage will have a negative effect on productivity, and curtailed GDP growth will keep the pressure on wages; an outcome that’s good for skilled talent, but costly for companies doing business in the UK. Developing a strategy to address the workforce crisis means adopting a “medium-long-term view” to build out one’s talent pipeline. Find out more about talent issues, post-Brexit.
As members of Parliament undergo the process of determining how to exit the EU, the resulting restricted access to skilled workers from across the EU
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For Singapore, Globalization is Still the Future, Despite ‘Dark Shift’ to Protectionism
Singapore’s Committee on the Future Economy (CFE) recently released a comprehensive report outlining the steps the island-nation intends to take to boost its stalled economic growth, after essential industries like trade and commodities experienced a slowdown and digital disruption. Singapore relies on globalization for growth, though the report noted that "Most worryingly, the world saw a dark shift in mood away from globalization in 2016. It no longer seems certain we are on an inexorable course towards greater globalization, stronger multilateral institutions and a more connected world.” The CFE report also noted that Singapore’s future remains focused on developing international ties, and placed strong emphasis on regional ties as essential to its future economic growth. Read more about Singapore’s future.
Japan Eases Permanent Visa Norms to Draw Global Talent
Japan is aiming to attract global talent from India and other nations with a soon-to-be introduced program: the “Japanese Green Card for Highly Skilled Foreign Professionals.” The new system is being touted as the fastest of its kind, worldwide – and will significantly reduce the period of stay required for highly skilled foreign professionals, from the current five years to just one year before applying for permanent residence (provided the applicant secures the required points). See more about Japan’s new permanent visa scheme.
Canada Should Raise its Retirement Age, Economic Advisers Suggest
Two of the recommendations released by the Canadian government’s economic advisory council to help sustain and build the country’s workforce include raising the age of retirement eligibility and exploring a national child-care program. The council developed concepts for growth that served what they defined as a need for Canada to increase labor-force participation from under-represented groups. To encourage older Canadians to work longer, the council suggested raising the age of eligibility for old age security and the Canada Pension Plan. Understand the impact of a higher retirement age on Canada’s workforce.
Government Affairs Community Update: ACA, Tax Reform, Immigration and More
Worldwide ERC®’s update on changes from the new U.S. administration includes coverage of the executive order to advance the repeal of the Affordable Care Act, followed by directives outlining new approaches to trade and restrictions on immigration. Activity in the new administration's agenda that is outlined and explained includes Tax Reform, Revenue Neutrality, Infrastructure and Foreign Earnings, Internal Revenue Service, States, The Affordable Care Act, Regulatory/Compliance Issues, Real Estate, Trade Agreements, and Immigration.
On 9 February, The U.S. Court of Appeals for the 9th Circuit issued a ruling that upholds a decision by a U.S. District Judge to freeze an executive order banning certain nationals of seven countries from entering the US. See the full release here.
HR to Face Sea Change in Online Learning Software and Accent on Teams
In its recent report, “Predictions for 2017: Everything Is Becoming Digital,” Bersin by Deloitte predicts a hard-charging year for HR, replete with learning innovations, exploding artificial intelligence, and wide expansion of real-time feedback and analytics. The report lays out 11 predictions in total for this new year, and notes that 2017 will be the start of a “real revolution” in learning and development. Culture and engagement were also identified as top issues, as were the challenges of organizational design. Read on about Deloitte's findings.