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Employment: report shows worker mobility key to tackle EU demographic and skills challenges

October 17, 2014 Comments off

Employment: report shows worker mobility key to tackle EU demographic and skills challenges
Source: European Commission/OECD

To address the effects of population ageing, the EU will need to close the gender gap and increase the participation of young and older workers in the labour market, but mobility and migration also have a key role to play. This is the main finding of the joint Commission-OECD report on Matching Economic Migration with Labour Market Needs published today.

Commissioner for Employment, Social Affairs and Inclusion László Andor commented “This joint report with the OECD offers valuable guidance on the serious demographic challenges ahead. Ensuring fair labour mobility within the EU, improving training to close skills gaps, ensuring decent working conditions to workers and better integration of non-EU workers can be part of the solution to population ageing and future skill shortages in the European labour market”.

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Technology an Underused Tool in Emerging Market Supply Chains, Finds New Accenture Study

October 15, 2014 Comments off

Technology an Underused Tool in Emerging Market Supply Chains, Finds New Accenture Study
Source: Accenture

Despite the vital role that technology plays in helping companies manage the complexity and volatility in global operations, only 48 percent of the more than 1,000 global companies surveyed for a new Accenture (NYSE: ACN) study use technology extensively in their emerging market supply chains.

Furthermore, 45 percent of the companies from 10 industry sectors sampled for the study, “Supply Chain Success Factors in Emerging Markets,” make only moderate use of technology, automating some essential activities but supporting them with manual processes. The Accenture research also identified ‘supply chain leaders’ from the sample and found that 73 percent of them use technology extensively in the supply chains that support their emerging market presence, versus only 31 percent of lower performers. In fact, nearly three-quarters of the leaders said they had made heavy investments in such automation tools as manufacturing systems, ERP and supply chain systems.

The commitment to technology by supply chain leaders is significant as the study revealed that companies with leading supply chains are more likely to generate stronger growth in emerging markets than those with average or low-performing supply chains. They are more than twice as likely as other respondents (58 percent versus 22 percent) to have achieved growth of 20 percent or more in their priority emerging markets in the past two years.

The Open Talent Economy: People and work in the borderless economy

October 14, 2014 Comments off

The Open Talent Economy: People and work in the borderless economy
Source: Deloitte

Talent is no longer a mere business expense, but an asset to be invested in — and measured.

The Open Talent Economy introduces a framework to guide talent strategy that brings together three components:

  • External influencers (the global megatrends, along with regional and industry trends)
  • Talent investments (the strategies, programs, and infrastructure solutions available to an organization)
  • Business performance (the measurable business and talent outcomes of the investments an organization has chosen)

The framework also recognizes that talent strategy isn’t only about your workforce or the mass of available talent, but also about individuals—each at a different stage of their career and lifecycle as an employee. The ways you acquire, develop, reward, and retain these individuals will vary according to the openness of your strategy.

Decoding Global Talent: 200,000 Survey Responses on Global Mobility and Employment Preferences

October 10, 2014 Comments off

Decoding Global Talent: 200,000 Survey Responses on Global Mobility and Employment Preferences
Source: Boston Consulting Group

If you live in a major city like New York, Singapore, São Paulo, or Berlin, it’s likely that many of the people you run into in the course of a regular business day are foreign born. It might be the barista who sells you coffee on your way to work. Or the businesswoman next to you on the commuter train. It might be the head of your department or the CEO of your company. You might be the person from another country.

People become expatriates for a variety of reasons—to escape political strife, improve their economic circumstances, and sometimes, to have a chance for a life-changing experience. With workforce gaps of one type or another starting to dot the world map, would-be expatriates may be in a better position to find work that suits them, especially as information about jobs globally becomes exponentially more available.

Together, The Boston Consulting Group and The Network conducted research on today’s global workforce—everything from what people in different parts of the world expect of their jobs to what would prompt them to move to another country for work to the countries they would consider moving to.

Hays Global Skills Index 2014

October 3, 2014 Comments off

Hays Global Skills Index 2014
Source: Oxford Economics

The global talent crisis continues to worsen. Across the globe, organisations fight to find employees with the necessary skills and training.

Oxford Economics and Hays Recruiting have collaborated for the third year running to produce the Hays Global Skills Index 2014. The index has proved invaluable for illuminating broad-based labour market trends while also revealing targeted insights about each country’s unique demand and supply drivers.

Free registration required to access report.

An Industrial Organization Approach to International Portfolio Diversification: Evidence from the U.S. Mutual Fund Families

October 3, 2014 Comments off

An Industrial Organization Approach to International Portfolio Diversification: Evidence from the U.S. Mutual Fund Families (PDF)
Source: Federal Reserve Board

Although the lack of international portfolio diversification has long interested the financial economics literature, the role of financial intermediaries in the market for diversified portfolios has rarely been studied. In this paper, I introduce a microeconomic aspect of under-diversification by examining a new data on U.S.-based mutual fund families’ global diversification. I document the fund families’ investments in global equity markets and explore features of supply and demand in the mutual fund market to explain their limited global diversification. Demand estimation confirms that consumers are not only sensitive to the fund families’ portfolio characteristics such as global diversification, but also to the non-portfolio characteristics such as fund family age and size. On the supply side, the model of fund families’ global investment decisions uses a revealed preference approach and shows small cross-border investment frictions can justify the fund families’ observed limited global diversification. Other factors such as destination country’s investor protection level and fund family’s investment experience significantly affect the degree of diversification as well.

CRS — Corporate Expatriation, Inversions, and Mergers: Tax Issues (September 25, 2014)

October 2, 2014 Comments off

Corporate Expatriation, Inversions, and Mergers: Tax Issues (PDF)
Source: Congressional Research Service (via Federation of American Scientists)

News reports in the late 1990s and early 2000s drew attention to a phenomenon sometimes called corporate “inversions” or “expatriations”: instances where U.S. firms reorganize their structure so that the “parent” element of the group is a foreign corporation rather than a corporation chartered in the United States. The main objective of these transactions was tax savings and they involved little to no shift in actual economic activity. Bermuda and the Cayman Islands (countries with no corporate income tax) were the location of many of the newly created parent corporations.

These types of inversions largely ended with the enactment of the American Jobs Creation Act of 2004 (JOBS Act, P.L. 108-357), which denied the tax benefits of an inversion if the original U.S. stockholders owned 80% or more of the new firm. The act effectively ended shifts to tax havens where no real business activity took place.

However, two avenues for inverting remained. The act allowed a firm to invert if it has substantial business operations in the country where the new parent was to be located; the regulations at one point set a 10% level of these business operations. Several inversions using the business activity test resulted in Treasury regulations in 2012 that increased the activity requirement to 25%, effectively closing off this method. Firms could also invert by merging with a foreign company if the original U.S. stockholders owned less than 80% of the new firm.

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