Four major forces are driving a lot of change across the talent market right now.

How is the talent market evolving and challenging organizations looking for talent globally?

Protectionism and populist movements are on the rise as more and more established economies grapple with shifting demographics and slow economic growth.

Governments everywhere are playing catch up in the face of a new work from anywhere reality.

Legislation lags far behind constantly evolving business trends, which now includes sustainability, social responsibility and new reporting requirements.

As the business environment changes, there is a pressing need for legislative frameworks to adapt and address the shift in dynamics of the new work reality.

There's an ongoing war for top talent and industries like mining, automotive, healthcare, tech and manufacturing are all struggling to recruit skilled workers. Finally, with digitization propelling businesses beyond their traditional boundaries. Companies are now looking globally, not just locally for the workers and the skills that they need.

What challenges organizations need to tackle to be effective in the global talent market?

Each of these factors are bringing about challenges that organizations must address to effectively explore the global talent market.

For example, the rise in protectionism and populism continues to make it difficult for companies to be agile in moving workforces globally. In established economies, we see governments engaged in this delicate balancing act between encouraging business growth and sustainable population growth through immigration.

With public sentiment, this has a critical impact on how corporations plan and communicate. Amid uncertainty around government policies. Businesses are compelled to demonstrate even greater agility and increased focus on ESG is influencing global talent strategies, particularly when it comes to designing mobility programs.

This includes considerations like tracking carbon footprint tied to business travel, the experience and welfare of global talent workforces, and humanitarian migration flows, as well as better reporting and transparency for an evolving group of stakeholders both within and outside of the business.

Many organizations are still failing to keep and reintegrate employees after they return from working abroad. This prevents them from capitalizing on the ROI from their talents upgraded skills, insights and experiences. Companies are struggling to find enough local talent and candidates trained in key areas. Instead, they end up searching globally to meet their talent requirements.

Remote work created new pools of talent. However, in some cases, restrictions, regulations coupled with an aging population have widened the talent gap here in Canada. Taken together, these challenges make it increasingly hard for companies to ensure that they have the right people doing the right work in the right place at the right time.

All of this requires new ways of thinking and a different approach to mobile talent. From what we've seen in the past.

What solutions can companies implement to address these challenges?

Traditionally, mobility has been seen as a tactical business function that responds to fast paced changes. A solution for short term challenges.

Recognizing this and addressing this perception is the very problem we need to solve.

Post-Pandemic leaders are beginning to see the strategic value of adding workforce mobility to their talent agenda. This momentum represents a real turning point.

But we can't be complacent. We must seize this moment to reposition mobility as a core strategic function backed with the right tools, data and resources.

There needs to be a fundamental shift in the mindset around what mobility is.

In addition, consideration should be made to the skills and leadership competencies required to align the organization's broader talent agenda and strategy by reframing mobility and empowering this group with a seat at the table. Companies can make better talent decisions that align with their strategic goals.

At EY we help clients re-imagine, transform and reposition the mobile talent function. To accomplish this, we integrate mobile talent strategies into every phase of workforce planning.

You need the right people with the right competencies, and you must provide them with the opportunity to influence decision making.