Global Talent Update – January 2024

EUROPE

Germany has recently launched “Job Turbo,” a new initiative aimed at accelerating the employment of refugees. Refugees will be able to take up employment in Germany even if their German language skills are not good. Data show that this initiative will benefit around 200,000 Ukrainian nationals as well as an additional 200,000 refugees from various countries who are currently completing integration language courses.

The initiative has been supported by several leading business associations, trade unions, companies, and municipal associations, as well as the Minister of Labour, Hubertus Heil, and the Federal Employment Agency. As part of the initiative, different job centres and the Federal Office for Migration and Refugees will also provide support with practical offers for part-time qualifications and the acquisition of the German language. This suggests that the focus of the companies employing refugees will be on creating a welcoming culture within companies to facilitate smoother integration.

Emphasising the importance of this initiative, Minister Heil said that integration is important, and for this reason, the country wants to make it possible for more refugees to take up jobs.

Read more at Germany Launches New Initiative to Accelerate Refugee Employment | schengenvisa news.

ASIA PACIFIC

Thailand’s economy remains in recovery mode, and requires deep structural reforms to sustain growth amid volatility and uncertainty, according to Bank of Thailand (BOT) Governor Sethaput Suthiwartnarueput and the country’s leading economists. They made the comments at the “Thailand Economic Outlook 2024: Change The Future Today” forum organised by Nation Group.

Sethaput compared Thailand’s economy to a patient in recovery, with the overall foundation, such as domestic consumption, fiscal discipline, unemployment rate and number of tourists in good shape. As a result, the country is recovering rapidly.

However, given the new risks and challenges posed by geopolitical tensions, global recession, high inflation, and climate change, he said that Thailand must improve its potential alongside deep economic restructuring in order to avoid suffering from any severe chronic disease.

“Thailand should currently focus on two areas for long-term health and growth,” he advised. “The first is the need for a ‘regulatory guillotine’ to cut out the red tape that is impeding growth. The second is the need to upgrade the workforce through upskilling, reskilling, better education and simulating research and development.”

Read more at Structural reforms, skill development of work force key challenge for Thai economy | The Nation.

AFRICA

In the dynamic landscape of work, Nigeria stands at a crossroads, grappling with the delicate balance between productivity and personal well-being amidst the rising popularity of the hybrid work model, according to an article in Nigeria’s Business Day. Traditional office structures are making way for flexible arrangements, allowing employees to work remotely. This shift has granted employers advantages, creating a paradox where bosses gain ground, and workers strive to find equilibrium.

Nigeria, having close-knit communities, faces unique challenges in embracing this shift. The social fabric of the country, deeply rooted in community ties, is encountering disruption as remote work disrupts personal connections and face-to-face interactions. The sudden shift, fueled by the global pandemic, challenges workers seeking a sense of belonging and connection amid the digital divide.

The hybrid work model in Nigeria highlights the digital divide within the workforce. While some employee’s transition into remote work easily, equipped with the necessary technological infrastructure, others face barriers like limited access to high-speed internet and inadequate devices. The Flexible Work Dilemma (FWD) is particularly pronounced in sectors where collaboration and innovation thrive on spontaneous interactions. In industries like tech, where brainstorming sessions and impromptu discussions fuel creativity, the absence of face-to-face engagements can stifle innovation.

Read more at Navigating the Flexible Work Dilemma (FWD): Challenges and opportunities in Nigeria’s changing work landscape | BusinessDay NG.

SOUTH AMERICA

At the start of 2024 Chile continues to be a beacon of economic stability and growth in South America. The country’s strategic geographical location, strong institutions, and a commitment to innovation have paved the way for several industries to flourish. Some of the industries that are expected to experience the strongest growth in Chile in 2024 include: Renewable energy; technology and innovation; mining and lithium production; tourism; and agriculture and food production.

Chile’s economic landscape in 2024 is characterized by diversification and sustainability. The government’s proactive approach to fostering innovation, coupled with a commitment to environmental stewardship, positions Chile as a model for economic development in the region, according to analyses conducted by Ongresso, a Swiss company that helps businesses establish and grow their operations in Latin America. The article expands on the outlook for each of the projected growth industries.

Read more at Thriving Industries: A Look at Chile’s Economic Growth in 2024 | Ongresso.