Demand for highly-skilled rising globally: WEF

There is growing demand for highly-skilled workforce worldwide, including in developing nations like India, where only about 25 per cent of professionals are considered employable in multinational companies, according to a World Economic Forum (WEF) report.

Terming human capital as the "engine of economic prosperity", the WEF has called for high-skilled people to meet the growing talent demand in various sectors including trade and communications in developing countries.

"Skills for high-demand jobs in 2020 must be developed now...All over globe -— in developed, newly industrialised, BRIC (Brazil, Russia, India and China) and developing countries — demand is soaring for these professions," according to the Global Talent Risk report released today.

The report, prepared by the WEF in association with the Boston Consulting Group, analyses projected talent shortages in 25 countries including India.

It said that uneven quality of educational systems in developing countries is one of the reasons for workers not getting necessary training to thrive in the global economy.

"As one example, only 25 per cent of Indian professionals are considered employable by multinationals," the study noted.

As per the report, there would high demand for professionals from companies in trade, transport and communication in developing nations.

"Health care research and development (R&D) will generate enormous demand for skilled labour worldwide, mining companies will need project planners and web designers will be in demand throughout many industries," it noted.

Pointing out that global talent risk is growing, the report said that there would soon be staggering talent gaps in large parts of the world threatening economic growth.

"...Now, human capital is replacing financial capital as the engine of economic prosperity," it added.