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Management Report

Management reports, briefs issued by Samsung Economic Research Institute

Global Talent War 2.0: From "Attraction" to "Utilization"

Global Talent War 2.0: From "Attraction" to "Utilization"

JU Se-Young

Oct. 15, 2012

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In their incessant pursuit of new technologies and business opportunities, companies around the world have concluded that their nation's talent pool is not deep enough quantitatively or qualitatively to sustain success and thus have engaged in a global talent war. According to a 2011 survey on 25,000 employers in 39 countries, 25% were looking abroad to fill skills gaps in their workforce. Even in Japan, where a strong culture of ethnic homogeneity prevails, 48% of Japanese companies in the survey expressed an urgency to seek talent outside their national labor market.

Korean companies are also importing more workers but fully utilizing their know-how and retaining them are matters that require more attention. One foreign-born technology worker said in an interview that it is difficult to develop sustainable competence with a long-term vision due to Korean business culture and practices, and even large companies fall short in their preparations for retaining and utilizing foreign workers.

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