The Futureof work

A global talent crunch—looming skilled labor shortages affecting both developed and developing economies—could ultimately shift the global balance of economic power by 2030 if left unaddressed.

About the campaign

The Futureof work

A global talent crunch—looming skilled labor shortages affecting both developed and developing economies—could ultimately shift the global balance of economic power by 2030 if left unaddressed.

About the campaign

TheSalarySurge

The Salary Surge

This paper estimates the wage increases that organizations in 20 major global economies may have to pay to attract and retain highly skilled labor resulting from the expected global talent shortage. It builds on data from our study, The Global Talent Crunch, which modeled the gap between future labor supply and demand to estimate the impending skilled talent shortage at three future milestones: 2020, 2025, and 2030. In The Salary Surge, we project the impact the talent shortage will have on wage bills by mapping Korn Ferry’s proprietary global pay data against the skilled labor shortage estimates across the same 20 economies at the same milestone dates.

About the study

The Salary Surge:Animation

Understand the forces driving the salary surge, and its impact on economies worldwide, in two minutes.

The Global Talent Crunch

This study estimates the impending talent crunch by modeling the gap between future labor supply and demand. We uncover the extent of the talent shortfall in 20 major economies at three milestones: 2020, 2025, and 2030. The model focuses on three knowledge-intensive sectors within each market that act as critical drivers of global economic growth: financial and business services; technology, media, and telecommunications (TMT); and manufacturing, and also examines the remainder of each economy. Using level of education as a commonly accepted proxy for skills, and taking into account forecast productivity gains, the study uses available data to forecast shortages for highly skilled, mid-skilled, and low-skilled workers to reveal an imminent talent crunch.

About the study

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To receive The Salary Surge report as a PDF please click on the button below and enter your details.