A predicted global population crash will see workers from areas such as Africa and India become even more vital for your company.
As the world’s key economies lurch from crisis to crisis spanning unprecedented natural disasters, stock market crashes and, of course, a planet-wide pandemic, it can be easy to lose sight of long-term issues that could hit your company, such as finding and retaining workers.
A surprising report from the University of Washington's Institute for Health Metrics and Evaluation (IHME) recently published in The Lancet has shown that the global average fertility rate is forecast to fall from 2.4 children per woman in 2017 to 1.7 in 2100. After global warming, this is perhaps the key long-term issue for businesses.
The global population is predicted to peak in 2064 at 9·73 billion before falling to 8.8 billion. Some 23 countries, including Japan, South Korea, Italy and Spain, will see their populations halve. A further 34 countries will shed 25 to 50 per cent of their population. Notably, the report finds that China faces a 48 per cent decline.
Nations that sustain their population numbers through migration, such as Canada, Australia and the USA, will maintain their working-age populations.
Retaining workers is key
Now, you might thinking that a fall in global population is a good-news story. Fewer people on the planet means lower carbon emissions, less pollution and a faster drive home in rush hour.
But a global population crash puts every business under pressure – most notably to attract and retain workers. And a rapidly increasing number of workers are likely to come from outside of your nation – chiefly India and Africa. And if you’re based in India or Africa you face the task of making your business more attractive than a competing nation.
By 2100, the IHME report tips DR Congo, Egypt, Ethiopia, Nigeria and Tanzania to sit among the top 10 most populated nations in the world. It notes that the population of sub-Saharan Africa could triple to 3 billion over the next eight decades.
Right now Teencoders, based in Nigeria, has reached over 5000 students through after-school and weekend coding classes. They aim to train 1 million students by 2022. In Tanzania, Apps & Girls, has trained 1900 girls to be programmers and they are set to train thousands more.
Skills like these will become a global passport in a market that is desperate for young workers. Finding and retaining these workers, however, means they and the teams they work in will need complementary skill sets for communication and human-to-human collaboration.
Working across countries and cultures
V-Teamwork works across nations and across cultures. Our management training module is conducted in a virtual “other” land (created in Minecraft). It's a place where people meet as equals; work together in small, geographically dispersed teams; and leave as reflective, resilient, interdependent and caring team members.
Our approach is agile – adaptable to a fast-changing world in which connecting with people, stepping into another’s shoes and engaging in conversations about the things that really matter will become more vital than ever.
V-Teamwork teaches your leaders how to value people over process, making finding and retaining team members easier. And the right people for your business are set to become more valuable than ever.
Want to be a more adaptive team leader and team member? Apply for a place on our Teaming Essentials program.
To find out more about the V-Teamwork program, click here