In a recent report published by AmCham Member Randstad (research carried out by IZA Institute of Labor Economics) and presented to the Dutch Government, an analysis is made of current and upcoming talent challenges. IZA concludes that labor migration will be crucial in solving potential labor shortages. Jacques van den Broek, CEO, Randstad Holding: "Significant talent challenges are looming in the Northern and Southern hemispheres by 2020 and beyond. In the Northern hemisphere, the expected talent gaps will be caused mainly by demographic shifts – notably, the retirement of baby boomers. For example in the United States, Germany, Canada and the United Kingdom, immigration and expected birth rates will not balance the workforce losses caused by aging populations. Over the next decade, Western Europe’s talent supply will continuously decrease, leading to almost empty talent pipelines beyond 2020. Economic growth expectations coinciding with projected waves of retirements will force employers to find, attract and retain scarce talent."
For furhter reading, download a copy of the report here.