The battle for brainpower

The battle for brainpower

Wooldridge A. The Economist (UK), 7-13 October 2006, Vol. 381 No. 8498, Start page: 3 (14 pages)

Purpose – To spotlight the growing competition for the world’s best talent. Design/methodology/approach – Looks at how talent acquisition and retention is topping the agenda for the world’s corporations; examines how countries are seeking to develop talent among their populations and identifies those sectors where it is vital, but in short supply. Identifies those factors that have exacerbated the problem; provides evidence that companies are finding it increasingly difficult to fill vacancies and highlights how the talent shortage is not just in the USA and Europe, but worldwide. Reports on the strategies being adopted by companies to attract talent and to manage it effectively; illustrates with examples and identifies some of the companies whose success has been based on having a talented workforce. Investigates the growing demand for talented workers in the developing world and, in particular, India and in China; features Infosys, part of the Electronics City, in Bangalore; highlights how it is driven by brainpower,fuelled by India’s universities. Examines, among other things, whether the fears about the outsourcing of well-paid service jobs in the USA are justified;reports the views of those who believe that the talent shortage has changed the balance of forces between workers and company; draws attention to how with talent becoming more valuable, inequalities are widening. Originality/value– Presents an in-depth examination of the talent shortages worldwide.Reference:35AY860

Keywords: Recruitment, Retention, Skills shortages, China, India,United States of America