ABSTRACT
Up until 2008 firms around the world were confronted with a major threat to doing business: a demand for talented employees that far surpassed the supply. This was especially acute in the developing countries that were benefiting from a strong business cycle based upon tremendous exports to the developed nations, and increased foreign direct investment from firms in developed nations wishing to take advantage of substantially lower wages. Forecasts were being made of even greater shortages to come due to forecasts for continued global economic growth virtually everywhere, but especially in the developing nations. Firms worked aggressively to retain their current employees, often providing training and development benefits to make the firm more attractive, and also to develop the talents of these workers. “Talent” became a key word in global business. Firms faced many global talent challenges including having the right number of competent employees at the right place and at the right time.
