ABSTRACT
This chapter examines major trends, often complex and interrelated, in the global labor market along with their implications for governments and multinational firms. How demand and supply of global talent evolve in the coming decades will exert a significant influence on the global economy. The chapter, first examines the concept of globalization and its causes along with important implications associated with global workforce management, including the important concept of long-term sustainability. Second, how technological advancements are contributing to significant changes in world business. Third, discusses the changes in global labor force demographics and the influence of migration, which is adding increasing diversity to global workforces. Fourth, the emergence of contingent workers as a significant component of the labor force. Fifth, it analyzes the impact of the increased use of offshore sourcing as an alternative to domestic production. The chapter concludes with a discussion of the implications of these trends for managers and Human Resource professionals.
