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Abu Dhabi Excels in Global Index – Here’s Why
The Ipsos City Index survey, which ranks international cities as to their “liveability” and effectiveness as a location to conduct business, has named Abu Dhabi the second-best city in the world - two spots higher than in its last survey. Abu Dhabi overtook both London and Paris to reach second place, just under New York, which maintained its top spot. More than 18,000 people in 26 countries were interviewed for the Index. The leading destinations were chosen from a list of 60 cities, including major hubs like Sydney, Hong Kong, Cape Town, Moscow, Toronto, and others. Read more about Abu Dhabi’s business setting and quality of life.
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Brexit’s Effect on the U.K. ‘Will Be Profound and Unpredictable,’ Lawmakers Say
A House of Lords EU affairs committee recently developed and distributed the report, Brexit: devolution, which states that the decision to leave the EU has aggravated cross-community divisions in the North. The report notes that Brexit presents fundamental constitutional challenges to the United Kingdom as a whole, and called on the government to set aside party politics, stabilize the environment, and adjust its Brexit approach to accommodate the needs of the different regions. Find out more about the UK after Brexit.
Skills Shortage Costs British Businesses £2bn a Year, Survey Finds
A lack of skilled job candidates ratcheted up costs in the UK, says a report from the Open University, which surveyed 400 companies and found that they spent around £2.2 billion in higher salaries and recruitment costs. More than half of firms surveyed said they increased salary offers to skilled workers, and cited uncertainty over Brexit for the lack of candidates. The “Brexit factor” also surfaced in a recent survey by human resources group CIPD, which found that "almost one in three employers said that EU nationals were looking to leave their organization as a direct result of Brexit." Read more about the UK’s costly skills shortage.
‘Different Crowd’ of Mainland Immigrants Fill Hong Kong’s Talent Gap
In 2003, Hong Kong launched the Admission Scheme for Mainland Talents and Professionals, which allowed local firms to hire mainland workers if their skills were in short supply, or were not readily available in the local talent pool. Between 2007 and 2016, the scheme drew nearly 80,000 people, even though many worked in Hong Kong for less than a year. This, and other programs designed to recruit talent, have attracted a unique group of mainland immigrants to meet the talent gap in Hong Kong. Understand more about Hong Kong’s talent solutions.
Workforce Would Shrink Without Migrants: Study
Young migrants are transforming the age profile of Australia’s workforce, and account for 80 percent of the growth in the workforce in the past five years. Employment grew by 730,000 between 2011 and last year, and 600,000 of that number were migrants. University of Melbourne professor and demographer Peter McDonald, who presented the results of his study this week to attendees of the Melbourne Institute/The Australian Economic and Social Outlook Conference, says migration has transformed the workplace: "The Australian labour force would have aged quite a lot without migration. Migration makes a very big difference to the age structure of the labour force by bringing in young workers, whereas all our growth at the moment without migration is with older workers." The study found that without migration, the number of people under age 55 in the workforce would have slumped by more than 140,000, but with new workers entering the country from overseas, the numbers climbed by more than 450,000. Read on about the infusion of young migrants into Australia’s workforce.
Government Affairs Community Update
Worldwide ERC®’s latest Government Affairs Community Update includes information on U.S. tax reform and state tax, international tax changes, the overtime pay rule, the Financial Choice Act, and Brexit negotiations, along with mobility industry impact statements. Click here to find the July 17 issue and other recent Government Affairs Community Updates.
British Columbia Now Conducting Tech-Only Immigration Draws
A recent trend among Canadian provinces to prioritize potential immigrants in the information technology (IT) sector has been echoed by British Columbia (BC), which recently launched tech-only immigration draws. Through the British Columbia Provincial Nominee Program (BC PNP), prospective immigrants with the skills and experience targeted by the province may receive a British Columbia Provincial Nomination Certificate, which will allow that foreign national to apply for Canadian permanent residence with processing times that are faster than other Canadian immigration classes. Read about BC prioritizing potential immigrants in the IT sector.
Latin America has a Surplus of Talent — And a Shortage of Innovation
There is a wealth of talent in Latin American countries, but its collective innovation output is disappointing. Many economists say this is because Latin American countries have too many government regulations that stifle creative enterprises, and not enough venture capital to fund ideas from talented people. But others say the opposite: that Latin America needs more government intervention to produce more innovation. Read more about Latin America's talent...and its innovation challenges.
How to Identify the Hidden Gems in Your Organization
Even though it is usually more time-consuming, expensive, and risky, most companies’ default reaction is to look for talent outside. But those who can improve on their internal talent identification processes can ferret out their own “best bets” for future talent. Author Tomas Chamorro-Premuzic says this can be done by following just a few suggestions: trust the science, get good data, focus on leadership and personality, use valid tools, and develop early. For the details behind these internal talent identification suggestions, read on!