“At The Global Level The Supply Doesn’t Know Where The Demand Is And The Demand Doesn’t Know Where The Supply Is”- Rupal Sinha
Industry experts delve into global migration trends and talent retention strategies
In a recent industry forum focused on workforce dynamics, industry leaders explored the intricate landscape of global migration trends and talent retention strategies.
Global Migration Dynamics
Addressing the complex factors driving global migration, Rupal Sinha, Group President, BVG India, emphasized the multifaceted nature of workforce considerations. Sinha stated, “HEWEI, here H stands for health, E stands for education and training, another E stands for gender equality, W stands for a decent workplace and I stands for reducing any inequality, this presides in all our channels of decision making that we do within the organisation that not only impacts industry but beyond.” This holistic approach underscores the importance of considering diverse elements in workforce planning.
Destination Trends and Migration Patterns
Highlighting significant migration patterns, industry experts referenced data post-G20 summit in 2020. The top three destinations for migration from G20 countries were identified as the USA, Saudi Arabia, and Germany. Notably, India, Mexico, and Russia were identified as the top three source countries for migration. The evolving landscape, especially in Asian countries, underscores the need for strategic talent retention efforts. India alone accounts for 17.9 million international migrants, representing 6.4 per cent of the total migrant population.
Retention Strategies and Workforce Dynamics
In response to these migration dynamics, discussions centred on the importance of talent retention strategies. Indicating the necessity of addressing retention challenges, industry experts emphasized the need for comprehensive approaches at all levels of workforce management. Recognizing the push and pull factors influencing migration, experts highlighted demographic, social, political, and economic considerations driving workforce movements.
The forum provided a platform for industry stakeholders to delve into critical workforce dynamics, shedding light on the interconnectedness of global migration trends and talent retention strategies in today’s business landscape.
