Issue link: https://www.e-digitaleditions.com/i/65226
The European Market last century, knowledge workers and entrepreneurs have always [left] Europe for opportunities in other economies." Barenholz attributes the steady flow to the relative openness of destination economies to foreign workers, in addition to the attractiveness of the particular country as a place to live and work, "either for a short period or to put down roots." Another factor enticing workers away from their home countries, he says, is whether or not a destination country has within its borders a labour force with the appropriate skills needed by its burgeoning industries. Simon Constance, a partner and infrastructure practice lead at research consultancy Orion Partners in London, cites some stark differences in talent movements across different industries and countries, with Europe drawing talent as often as shedding it. "Demand for superior technical expertise in areas like advanced engineering is continuing to suck in talent—from emerging economies to the United States and Europe—particularly as demand for aerospace, energy, and defense investment projects continues from those countries," he says. "Similarly, the mining sector is still riding the wave of the commodities boom, [drawing talent] to Australia, Latin America, and Africa." At the other end of the spectrum is the pharmaceutical industry, adds Constance, which is losing European talent to India, "where new wealth is rapidly increasing demand for branded, high quality Western healthcare products." WINTER 2012 | www.hroglobal.com [21]