Latest news with #GlobalLaborMarketConference
Yahoo
11-04-2025
- Business
- Yahoo
Skills mapping can close talent gaps, Mercer research shows
This story was originally published on HR Dive. To receive daily news and insights, subscribe to our free daily HR Dive newsletter. Employers are steadily building skills-powered organizations, a critical development given that half of HR leaders see skills shortages as a top threat to their businesses in 2025, according to a March report from global consulting firm Mercer. The positive news from insights of more than 1,100 talent, rewards and HR team leaders across 74 countries is that employers seem to have significantly greater knowledge of skills than in the past, the report found. This increased understanding has led many companies to develop and strengthen the formal infrastructures — such as skills mapping and skills-based rewards — underpinning their talent strategies, Mercer said. For example, about half of team leaders surveyed said they've established a skills library and made progress in mapping skills to jobs. Almost 70% identified the most critical skills for their departments, the study found. Organizations are using various methods to map skills to individuals, with the majority doing so based on current job roles. They're also relying on employees and managers to self-report and identify skills. Notably, companies that describe themselves as highly effective at attracting in-demand skills are almost twice as likely to have skills mapped to individual employees, according to the study. Proficiency frameworks are crucial to the process because they distinguish among different levels of competency or expertise in any given skills, Mercer emphasized. Skills-based reward programs are also catching on as a way to address skills gaps. The survey revealed that 23% of companies, up from 17% in 2023, now have some sort of program linking skills to rewards. Additionally, 45% of HR leaders are rewarding skills acquisition, now the top approach for filling an organization's needed skills, the study found. Employers have a clear opportunity to make a positive change when it comes to upskilling that could dramatically change the way employees grow, the CEO of learning technology company D2L previously stated. They're also likely to find employees on board with the change, according to a December 2024 report from the Global Labor Market Conference. The report indicated that employees, who see their current skills quickly becoming obsolete, value self-improvement, with 44% of survey respondents saying the responsibility for upskilling falls on them. A March report from Gartner offers another key tip: Employees hired because they show promise are nearly two times more likely to perform effectively than those hired for skills proficiency. Organizations are transforming their capabilities so rapidly, they can't acquire all the skills they need, Gartner's director of HR practice explained. To speed up skills development and internal mobility, HR leaders need to shift to building on promise, meaning 'a willingness and ability to learn new skills from a minimum foundation,' Gartner said. One stand-out finding from the Mercer study may be particularly encouraging for HR and talent teams: Leadership buy-in is no longer a top obstacle to skills-based strategies, indicating 'that the business case has been proved,' Mercer said. Sign in to access your portfolio
Zawya
13-03-2025
- Business
- Zawya
Qatar: Cabinet ratifies Qatar-Sierra Leone tourism and business events pact
This draft, prepared in coordination with the Real Estate Regulatory Authority, comes in implementation of the provisions of Law No. 6 of 2014 which regulates real estate development. It aims to provide a legislative framework for recording data on the real estate units delineated on the map and for documenting the rights and legal dispositions that apply to them. The Cabinet decided to take the necessary measures to ratify a memorandum of understanding (MoU) for cooperation in the fields of tourism and business events between the government of Qatar and the government of Sierra Leone. The Cabinet also decided to approve a draft MoU between Qatar's National Planning Council and the Kingdom of Saudi Arabia's General Authority for Statistics for cooperation and exchange of expertise in the field of statistics, a draft MoU for cooperation on reforming public administration and enhancing its capabilities in the field of qualifying and developing human resources between the government of Qatar and the government of Morocco, and a draft MoU between the Qatar Financial Information Unit of Qatar and the Financial Information Unit of Libya regarding cooperation in the field of combating money laundering crimes. The Cabinet concluded its meeting by reviewing three reports and taking the appropriate decisions in their regard. The reports included the first semi-annual report on the progress made in implementing the National Cyber Security Strategy 2024-2030, a report on the results of the participation of Qatar's delegation, headed by Minister of Labour, in the Global Labor Market Conference, and a report on the results of the participation of Qatar's delegation, headed byMinister of Public Health, in the Arab Health Conference and Exhibition 2025. © Copyright Qatar Tribune. All Rights Reserved. Provided by SyndiGate Media Inc. (
Arab News
08-02-2025
- Business
- Arab News
Riyadh conference outlines future of the global labor market
The Ministry of Human Resources and Social Development recently organized the second Global Labor Market Conference under the theme 'The Future of Work' in Riyadh. The conference brought together policymakers, labor leaders, academics and business pioneers from around the world to discuss key issues related to the future of the labor market. The conference shed light on several important key points, including but not limited to promoting lifelong learning to meet evolving skills demands, driving equitable transitions to greener economies, bridging gaps between young workers' aspirations and labor market realities, and supporting small businesses for workforce innovation. The event emphasized the rising demand for future-oriented skills, the emergence of new professions, and the transformative impact of technologies such as artificial intelligence and the Internet of Things. On the sidelines of the conference the launch of Saudi Arabia's first-ever World Bank Global Labor Market Academy was announced. This initiative, developed in collaboration with Takamol Holding company and the World Bank, brings together policymakers, practitioners, and industry experts to shape the future of the labor workforce, setting a transformative foundation for generations to come. It is worth noting that coinciding with holding the conference, Riyadh also hosted the international ministerial meeting on Jan. 29, 2025, with the participation of more than 45 labor ministers from countries around the world, including G20 countries, Europe, Asia, the Middle East and Africa, and the Americas. The ministerial meeting discussed policies and future directions in labor markets, challenges facing youth employment, and innovative initiatives to enhance youth participation in the global economy. Moreover, the meeting discussed opportunities to unify international efforts in addressing unemployment and youth employment issues and ways to develop policies that meet the needs of labor markets considering the rapid economic and technological transformations. The conference is the first and only platform that unites all labor market stakeholders, such as policymakers, labor leaders, academics, and business leaders, focused on inspiring innovative global solutions to labor market challenges. It is becoming the fastest growing international independent platform and think tank devoted to the evolution and growth of the global labor market. It is also becoming a dynamic platform that drives insights and updates on the global labor market and facilitates an ongoing exchange of labor developments and trends worldwide. The conference succeeded in emphasizing the growing demand for future-oriented skills in emerging new professions that will have a transformative impact on technologies such as artificial intelligence. The conference also presented technological developments in the Saudi labor market, which have been harnessed to maximize economic value and create a professional technological work environment. Saudi Arabia made notable progress in the IMD World Competitiveness Yearbook 2024, achieving significant leaps in key labor market indicators. On individual indicators, Saudi Arabia emerged as the leading country in the employment-long-term growth factor among the 67 participating countries, reflecting the Kingdom's commitment to enhancing the labor market and attracting global talents in line with Vision 2030. In a statement to the Saudi Press Agency, Gilbert Houngbo, director-general of the International Labour Organization, commended Saudi Arabia's pivotal role in steering the future of the global labor market. He emphasized the comprehensive reforms outlined in Saudi Vision 2030, aimed at fostering a decent work environment. He also highlighted the objectives of the Kingdom's vision regarding enhancing market competitiveness and achieving sustainable economic development. Houngbo underscored Saudi Arabia's success in transforming its labor market through a comprehensive array of qualitative reforms. • Talat Zaki Hafiz is an economist and financial analyst. X: @TalatHafiz
Filipino Times
07-02-2025
- Business
- Filipino Times
DMW pushes for stronger OFW protections, more job opportunities overseas
The Department of Migrant Workers (DMW) is strengthening its commitment to expanding job opportunities and enhancing protections for overseas Filipino workers (OFWs) as more countries show interest in hiring skilled Filipino workers. DMW Secretary Hans Leo Cacdac highlighted the Philippines' engagement with 40 labor ministers at the Global Labor Market Conference in Riyadh, Saudi Arabia. The Philippine delegation held bilateral talks with officials from Saudi Arabia, Finland, the Bahamas, Oman, Jordan, Egypt, Indonesia, Tajikistan, Kyrgyzstan, and Libya, focusing on growing demand for Filipino workers in healthcare, hospitality, and construction. As part of efforts to improve OFW protections, the DMW and Saudi Arabia agreed to shift from a complaint-driven system to a proactive monitoring framework. Talks are also ongoing to reclassify Filipino domestic workers performing caregiving duties to ensure better training and working conditions.
Leaders
30-01-2025
- Business
- Leaders
Saudi Tourism Signs Partnerships to Boost National Talents
Saudi Arabia's Ministry of Tourism has signed several partnerships, agreements and memoranda of understanding (MoUs) on the sidelines of the Global Labor Market Conference, according to the Saudi Press Agency. These cooperation agreements stand as a testament to the ministry's dedication to boosting the skills of national talents within the tourism sector elevating the efficiency of the Kingdom's workforce. Ministry & Marriott Riyadh Hotels Group Therefore, the ministry has signed a significant agreement with Marriott Riyadh Hotels Group, to employ Saudi nationals and provide smooth access to job opportunities for the national workforce. According to this cooperation, the agreement will offer training programs to boost professional performance and practical skills. Ministry & Adeera Saudi Tourism Signs Partnerships to Boost National Talents Furthermore, the ministry has partnered with Hotel Management Company (Adeera) to provide Saudi nationals in tourism sector with required skills and efficiency as well as to prepare job seekers for available vacancies in the sector. Ministry & Takamol Saudi Tourism Signs Partnerships to Boost National Talents The conference also witnessed the signing of an important cooperation agreement between the ministry and Takamol Business Services Company to foster the capabilities of tourism sector employees. It also seeks to facilitate knowledge exchange, align with quality and occupational safety standards, and elevate tourism services across the Kingdom. Related Topics: Saudi Ministry of Tourism: Visit Visa Doesn't Entitle its Holder to Perform Hajj Ministry of Tourism Signs MoU in Human Capability Initiative Conference Saudi Ministry of Tourism Celebrates Reaching 100 Million Tourists Short link : Post Views: 5 Related Stories
