Talent Farms

Talent Farms: Collaborative Workforce Development

Through a combination of the complete workforce transformation stemming from the 4th Industrial Revolution and demographics, the world is likely in the first phase of will likely be the longest and most impactful skilled talent shortage in history. 

The global workforce is not naturally providing the supply of talent needed. Numerous IGOs, government agencies, and companies that research the world of work have raised alarms over the growing skilled talent shortage. By 2030, the world may have a shortage of technology and tech-enabled workers nearing 100 million people. We will see scenarios where company market share and even ultimate business success are defined by the company’s ability to find and keep top talent on a far more frequent basis. Korn Ferry notes that this skilled talent shortage likely will lead to $8.5 trillion in unrealized revenues by 2030- simply because companies cannot find the talent they need.

Given the scale of the skilled talent shortage likely still to come, companies are implementing strategic talent solutions that hedge the scarcity and related labor cost issues. Our management team pioneered such programs in countries such as Ukraine, India, Mexicoand Russia years ago. Our specialty is partnering companies with academia in emerging markets to create the talent the company needs collaboratively. We have proven that talent development costs can be well below the cost of recruiting, and the company can tailor the skills of program graduates to the company’s exact needs.

Although the current conflict in Ukraine is pausing the creation of such programs in the country, we have additional and highly compelling options in other countries. Contact us for information on how we can help you hedge the growing skilled talent shortage.

 

Case Study: Biostatistical Programming & the Pharmaceutical Industry

In 2012, Phil Hatch (CEO mozok.works) was engaged by executives in the global pharmaceutical and clinical trials industry after struggling to find biostatistical programmers and bioinformatics talent. After working with these companies, the decision was made to create a collaborative workforce development program (talent farm) in partnership with V.N. Karazin Kharkiv National University. 

The structured program defined by April 2013 called for SAS Institute, the university, and the primary global pharmaceutical company to work closely together in teaching students at the university.

The program was deemed to be a great success. Involved pharmaceutical companies receive top talent, and Ukraine was widely regarded as the top market for elite biostatistical programmers in the world. 

Biostatistical Programming & the Pharmaceutical Industry