Thank you to our sponsors:
For sponsorship information please contact Rachel Rohrbaugh.
Informal Economy Not Enough to Handle Africa's Workforce Explosion
Unless African economies can create jobs for their rapidly increasing young population, the region is in danger of reaching uncharted territory in less than two decades, says the International Monetary Fund (IMF). "By 2035, sub-Saharan Africa will have more working-age people than the rest of the world’s regions combined. This growing workforce will have to be met with jobs…this means focusing on ways to increase the productivity of the informal sector, while working to support the expansion of formal businesses," said the IMF. Read more about the IMF’s views on Africa’s workforce.
Emigration and Retirement Underpin 143,000 Drop in UK-born Workforce since 2016
Mercer’s Workforce Monitor, which tracks changes in the UK’s workforce, highlighted the role of migration in the economy; reporting that that retirement, opting out of the workforce, or emigration saw 143,000 UK-born employees leave the country’s workforce since 2016. The loss of workers was only offset by the entry of 147,000 EU-born workers and 232,000 non-EU workers, demonstrating the future risk of demographic change taking place in the UK workforce post-Brexit. Find out more about UK workforce statistics.
Immigration changes in U.K., Canada and Australia
Are you up to date with international immigration? Tune into our webinar, Going Global: Immigration Changes in U.K., Canada and Australia, for coverage of these popular business travel destinations. You’ll learn how actual and proposed policy changes are affecting businesses and expert tips for staying compliant. See it on-demand today.
Why Your Company Might Be Left Behind in the Battle for Talent
Japan has jobs, and companies are eager to beat the competition for the best talent. In this country, employer branding is critical: positive branding pays off well in new hires, and negative branding makes a company’s rival more appealing. To achieve their corporate goals, these companies need staff with sufficient specialized experience, and one of their biggest workforce shortages is bilingual mid-career professionals. In addition, as Japanese employers tend to be conservative compared with those in the United States or Europe; it is less common for workers to change jobs… but this stability—although positive for business in the past—has limited the flexibility needed to compete today. Understand more about Japan’s talent struggles.
India’s Gender Chasm Retards the Economy
The International Labour Organization has ranked India 121st among 131 countries on the basis of female labor force participation. Women are in a significant minority in India’s workforce, and experts note that if India could close its 52.1% gender gap in employment by 2025, the economy could gain by as much as $1 trillion. Women are central to making a company’s advancement more inclusive and to reducing income inequality, making growth more sustainable. Read on about closing the gender gap in India’s workforce.
Government Affairs Community Update
Worldwide ERC®’s latest Government Affairs Community Update focuses on U.S. tax reform principles, the Foreign Account Tax Compliance Act (FATCA), ACA coverage requirements, the U.S. Senate impasse on the health care bill, legislation to prevent transferees’ personal data from becoming public, and the EU general data protection regulation., along with mobility industry impact statements. Click here to find the July 31 issue and other recent Government Affairs Community Updates.
How Young Americans Are Set to Change the U.S. Forever
The U.S. is poised for change – and not just geopolitically. According to Brookings, almost half of U.S. millennials and children are from ethnic minority groups, and as the current workforce matures and retires, investing in developing the future labor pool is a consideration. Among Hispanic Americans, the nation's largest minority, the median age is 29; while it is 20 for mixed-race Americans, the fastest growing minority. The great ethnic diversity of younger generations adds up to a significant (and growing) demographic transformation. Read about changing U.S. demographics.
Brazil Economy to Grow 2 Percent Next Year
Citing a “gradual recovery” for Brazil’s economy, Central Bank President Ilan Goldfajn said that Latin America’s largest economy remains weak, though it is on course to show modest growth of 2% in 2018 if the economy continues expanding at its current pace. Read more about Brazil’s modest but positive growth projections.
Improving Company Culture Is Not About Providing Free Snacks
There’s more to employee experience and company culture than workplace goodies! Companies that make high scores on factors such as empowerment to make decisions, freedom to innovate, and work–life balance are making a difference to their bottom line. Business units that performed in the top quartile in terms of employee engagement outperformed business units in the bottom quartile by 21 percent in profitability. For more on employee experience approaches, read on!