To keep the US growth engine in top gear it is imperative that we find folks in the productive age group to work and to contribute towards taxes and social programs such as Social Security and Medicare.
Of course the economy has to create jobs; however a critical mass of educated workforce is also required to take on those jobs. Education and immigration reform need to be addressed head on with the talent war in perspective.
Making college education affordable is a basic first step towards creating this talent pool.
Readers would be surprised that my family spent less than US $300 (yes, three hundred dollars) for my entire medical education in India. Every year, in my home state, 100,000 students take a competitive exam to qualify for those 700 spots of almost free medical education. This is the case with several state sponsored medical schools in India. Same is the case with top notch state sponsored business and technology schools in India, where a merit based system prevails.
Guys, there is nothing wrong with “socialized” education as your politicians may have you believe!!! We all turned out just fine. It is heartening to note that several Ivy League Universities in the United States have stepped up to provide various financial incentives to attract lower income students.
If generating/mass producing homegrown talent is not working well, then the immigration policy has to streamlined to facilitate smoother flow of labor to the country.
Europe, UK and Australia are attempting to attract Indian talent with various immigration programs to fast track their economies. Labor mobility will increase in the coming years and jobs would go to where the talent resides irrespective of boundaries. Medical tourism though in its infancy is an indication that services (in this case surgery) can travel to where talent resides, even in healthcare.
Though the US continues to be the destination of choice for most immigrants, several first generation immigrants from emerging economies are making a beeline to return o their home countries to be part of the exciting growth stories there. The shape and form of immigration system in the US will have to change dramatically to retain talent.
Monday, December 8, 2008
Thursday, November 20, 2008
The Future of Outsourcing: (Part -1) who will win the talent war?
I was planning to do a comprehensive piece on this subject for quite some time ( for the last 3-4 months!!!) does not look like I'll get it all done, so here I am posting in pieces...
The United States is changing, the change was visible to any one watching the young and vibrant Obama rallies vs the monochromatic Republican rallies(?) with older citizens. This demographic shift in the make up of America, would have implications for outsourcing.
One of the challenges that US,Europe Japan and China face today is the changing demographics, especially the increase in the graying population. To maintain an aging population these economies need a critical mass of young educated work force. The critical question then becomes, where is this educated talent pool?
IT demand and supply: a hard look at the numbers
According to new data from the Computing Research Association, (an association of more than 200 North American academic departments of computer science, computer engineering, and related fields) in the fall of 2006, new computer science enrollments were at 7,840, and new enrollments are at 7,915 for the fall of 2007. Compare this with India and the contrast is stark.
Per NASSCOM, (India’s National Association of Software and Services Companies) India produced 575,000 engineers in 2007, of which 193,000 were Computer Science graduates. Despite debates on quality of the education, the sheer numbers do point to the magnitude of the talent gap.
The Professional services sector in US is expected to create 5 million jobs by 2016 a growth of 16.7percenatge.Computer and mathematical science occupations are projected to add 822,000 jobs by 2016 —at 24.8 percent growth, the fastest growing segment among professional subgroups.( http://www.bls.gov/)
To keep the US growth engine growing it is imperative that we find folks in the productive age group to work and to contribute towards taxes and social programs such as Social Security and Medicare.
The economy has to create jobs; however a critical mass of educated workforce is also required to take on those jobs. Education and immigration reform in US need to be addressed with the talent war in perspective.
I will be discussing how Education and Global Immigration Reform would play a role in addressing the talent shortage and the future of outsourcing.
The United States is changing, the change was visible to any one watching the young and vibrant Obama rallies vs the monochromatic Republican rallies(?) with older citizens. This demographic shift in the make up of America, would have implications for outsourcing.
One of the challenges that US,Europe Japan and China face today is the changing demographics, especially the increase in the graying population. To maintain an aging population these economies need a critical mass of young educated work force. The critical question then becomes, where is this educated talent pool?
IT demand and supply: a hard look at the numbers
According to new data from the Computing Research Association, (an association of more than 200 North American academic departments of computer science, computer engineering, and related fields) in the fall of 2006, new computer science enrollments were at 7,840, and new enrollments are at 7,915 for the fall of 2007. Compare this with India and the contrast is stark.
Per NASSCOM, (India’s National Association of Software and Services Companies) India produced 575,000 engineers in 2007, of which 193,000 were Computer Science graduates. Despite debates on quality of the education, the sheer numbers do point to the magnitude of the talent gap.
The Professional services sector in US is expected to create 5 million jobs by 2016 a growth of 16.7percenatge.Computer and mathematical science occupations are projected to add 822,000 jobs by 2016 —at 24.8 percent growth, the fastest growing segment among professional subgroups.( http://www.bls.gov/)
To keep the US growth engine growing it is imperative that we find folks in the productive age group to work and to contribute towards taxes and social programs such as Social Security and Medicare.
The economy has to create jobs; however a critical mass of educated workforce is also required to take on those jobs. Education and immigration reform in US need to be addressed with the talent war in perspective.
I will be discussing how Education and Global Immigration Reform would play a role in addressing the talent shortage and the future of outsourcing.
Subscribe to:
Posts (Atom)
