Addressing the Need for Talent in Emerging Markets

In the summer of 2010, the World Economic Forum (WEF) released a powerful body of research about Stimulating Economies Through Fostering Talent Mobility. It’s an eye-opening look into issues facing economic growth of developing nations. According the the study, “High-quality human resources and the availability of talent are important building blocks for a nation’s long-term competitiveness and sustained growth.”

It has long been documented that they key for sustainable economic development of a country lies in the ability of its businesses to prosper. More than ever, responsible businesses (aka social enterprises and for benefit corporation) not only ensure economic success, but also care for people and the environment in the process. In order to succeed, businesses need access to:

1. Capital
2. Market
3. Talent

The focus in the developing world has largely been on the first two, but now, for the first time, the talent issue is coming into focus. The WEF report also noted

Human capital will soon rival – and may even surpass – financial capital as the critical economic engine of the future. The scope of the challenge is so broad that no single stakeholder can solve it alone. Education institutions, business, governments and non-governmental organizations must come together to propose new frameworks and solutions that will create a new talent environment, suitable for the era of workforce scarcity and balancing the needs of both developed and developing economies.

NESsT also highlights this issue by publicizing that Social Enterprises are performing under their potential due to lack of access to quality talent, coaching, and networks. However, by connecting Social Enterprises to the right talent, development can be accelerated.

That is why we have launched a campaign to popularize Experteering, and we invite you to subscribe for email updates to learn more about how you can use your professional skills to address the talent crises and make the world a better place.