Investors look to governments to define their human capital

As we emerge from the global pandemic, migration and hybrid working create a more global, remote workforce. In a world of declining natural resources, governments acknowledge that the most valuable part of a country’s future growth is their people, the so-called human capital.

Managing human capital

Human capital management is now essential for hiring, managing, training, and retaining the future workforce of talented and high-performing employees. As noted by The World Bank,

‘… the frontier for skills is moving rapidly, bringing both opportunities and risks. There is mounting evidence that unless countries strengthen their human capital, countries cannot achieve sustained, inclusive economic growth, will not have a workforce prepared for the more highly skilled jobs of the future, and will not compete effectively in the global economy. The cost of inaction on human capital development is going up.’

Having seen growing pockets of labor market shortage, investors are getting smarter at defining and demanding the sustainable labor they need before making investment decisions.

Attracting foreign investment

At a minimum, investors will expect to assess the skills, experience, and knowledge of the current and future employed and unemployed population and a detailed understanding of future labor-market supply and demand. Furthermore, they will expect to see the application of data-centric gap analysis and labor market insights. As a result, up-skilling training programs should already be in place to correct the shortfalls.

WCC Employment solutions

Using WCCs unique Employment Solutions, governments are now empowered with a platform to meet all requirements of investors. In addition, our Matching software has been augmented and powerfully honed to implement a system capable of mapping an entire labor market. Working closely with governments, the WCC Employment Platform gives individuals, employers, and investors a complete picture of their employment market. For many developing countries, this is an essential first step toward attracting investment and creating an improved country profile for continued investment.

Source: World Development Report (WDR) 2019: The Changing Nature of Work

Article by: WCC Community
Published on: March 29, 2022

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