As the war on talent continues to prosper, it appears the fight has scaled globally. The skills of U.S. workers are in high demand internationally and the demand will only continue to increase, even though the supply is not predicted to keep up. According to the Bureau of Labor Statistics, the United States will fall short of producing STEM professionals by about one million people over the next 10 years. If the predictions are true and considering where the future of where desired skills are headed, this could create quite the battlefield for US companies wanting to employ local talent for STEM-related jobs.
Compensation and benefit packages will start becoming even more competitive and essential to stay ahead of the curve. This will undoubtedly affect the global mobility industry as it will translate into the need for even more attractive and flexible benefit offerings in order to obtain skilled talent and beat out their domestic and foreign competition.
Another element to add is that the younger generations in the workforce are more apt to relocating for their jobs than in the past. They are more willing to move to another state or country, if the job is right; this will only increase the competition for US-based companies for the acquisition of domestic talent.
It’s never too early to start thinking about how your company will adapt to the ever-so-changing talent pool and creating an action plan into instill once the time is right. Check out this piece titled, "5 Global Mobility Strategies to Attract (and Keep!) Top Talent."
Employers with a global or national footprint can offer high potentials opportunities to transfer abroad or to different states in upward or lateral positions, he says. Temporary job transfers may also be attractive and help keep foreign recruiters at bay, while another option is to participate in employee-exchange programs with similar, noncompeting foreign companies.