Despite a backdrop of geopolitical tensions and economic uncertainties, the allure of working abroad remains strong for professionals worldwide. With 23% actively seeking international jobs and 63% willing to relocate, the Decoding Global Talent 2024 report sheds light on this trend. The study, based on data from over 150,000 respondents across 188 countries, provides insights into the evolving landscape of global talent migration.
- Desirable Destinations:
- Top countries for relocation include Australia, the US, Canada, and the UK.
- London and New York lead as preferred cities for international work.
- Regional Mobility:
- High mobility among younger demographics and populations with faster growth rates.
- 64% in the Middle East and Africa and 58% in South Asia are willing to relocate.
- Labor Market Challenges:
- Declining birth rates contribute to a global people shortage.
- Mismatch between job supply and demand intensifies the challenge.
- Motivations for Relocation:
- Professional progress and economic factors are primary drivers (64%).
- Quality of job opportunities ranks highest in country selection (65%).
- Employer Expectations:
- 79% expect housing assistance, 78% seek visa and work permit support.
- 69% anticipate relocation assistance, and 54% desire language training.
Expert Insights:
- Sebastian Dettmers, CEO of The Stepstone Group: Emphasizes the need to adapt job markets to be more versatile, leveraging labor migration to bridge the people shortage.
- Sacha Knorr, Co-managing Director at The Network: Highlights the importance of personal criteria in job choice and encourages companies to align job offers with talents’ expectations.
- Jens Baier, Managing Director at BCG: Advocates for employers to challenge biases, expand recruitment strategies, and for governments to establish enabling policies for international talent acquisition.
The Decoding Global Talent 2024 report underscores the significance of global talent migration in addressing the people gap across key economies. As professionals increasingly seek opportunities abroad, understanding their motivations and expectations is crucial for employers and governments alike. By aligning recruitment strategies with talents’ preferences and offering comprehensive support, organizations can gain a competitive advantage in attracting and retaining international talent.
