labor market Archives - Iqbal Man Power

27Mar

Pakistan’s Workforce in 2025: Emerging Trends and Opportunities

When we think about what’s coming, it’s pretty obvious that Pakistan’s Workforce in 2025, Emerging Trends and Opportunities will change a lot in the next few years. As more and more people move to cities and new technologies become available, the workers of 2025 will be influenced by new trends and chances. Iqbal Manpower will play a key role in connecting skilled professionals with these emerging opportunities.

A big issue that workers in Pakistan are dealing with is the gap between the skills people have and the skills they need. Many workers don’t have the right skills to succeed in the worldwide economy, and that means their work isn’t as good as it could be. A report from the World Bank says that Pakistani workers aren’t as productive as workers in many other countries nearby.

Getting Our Act Together: Why We Need to Boost Our Workers’ Skills

It’s pretty obvious that we need to do a better job of developing our workforce. If Pakistani workers get the right training and skills, they can become way more productive, competitive, and come up with new ideas. A report from the Pakistan Bureau of Statistics says our workforce could hit over 100 million by 2025, which is a huge chance to really improve things.

What’s New and What Can We Do About It?

Alright, so what are the new trends and opportunities that are going to affect Pakistan’s workers in 2025? Here are a couple of big ones:

Working from Anywhere and the Rise of the Freelance Economy

Thanks to all the cool new tech, working remotely and the whole freelance gig thing are catching on like wildfire. Upwork did a study that says the freelance economy could be worth a whopping $455 billion by 2025. That’s a ton of chances for freelancers and people starting their businesses.

Automation and AI

Machines are changing the way we work thanks to automation and AI, taking on many roles that humans used to do. However, this shift also means people can learn new skills and work alongside these advanced technologies. A study by the McKinsey Global Institute suggests that by 2030, as many as 800 million jobs worldwide could be lost due to automation.

Education and Training

To help Pakistani workers get the skills they need, education and training are vital. The World Bank emphasizes that putting money into these areas can make the country’s workers more productive and competitive.

Diversity and Inclusion

Having a diverse and inclusive workforce is key to truly reflecting the wider population.

Entrepreneurship and Innovation

Entrepreneurship and innovation will be critical in creating new opportunities and driving economic growth. According to a report by the World Bank, entrepreneurship can create jobs, increase productivity, and drive economic growth.

Pakistan’s workforce in 2025 will be shaped by emerging trends and opportunities. By understanding these trends and opportunities, workers, employers, and policymakers can work together to create a workforce that is skilled, productive, and competitive. Whether it’s remote work, automation and AI, education and training, diversity and inclusion, or entrepreneurship and innovation, the future of Pakistan’s workforce is bright.

Conclusion

By investing in workforce development, Pakistan can create a workforce that is equipped to compete in the global economy. With the right skills, training, and opportunities, Pakistan’s workforce can drive economic growth, increase productivity, and improve living standards.

23Mar

Challenges and Solutions in Pakistan’s Manpower Export Industry

Pakistan’s labor export sector has been a crucial element of the nation’s economic framework, supported by countless Pakistanis who work overseas and remit earnings to their homeland. Yet, Challenges and Solutions in Pakistan’s Manpower Export Industry must be addressed to secure its ongoing expansion and prosperity. Iqbal Manpower plays a vital role in overcoming these challenges by connecting skilled workers with global opportunities.

Issue: Obstacles in Pakistan’s Labor Export Sector

The labor export sector in Pakistan grapples with various obstacles, such as:

Insufficient skilled labor: A considerable number of Pakistani laborers do not possess the specialized skills and training that international employers demand, which diminishes their ability to rival workers from other nations.

Corruption and Exploitation: Unfortunately, the industry is plagued by widespread corruption and exploitation. Many recruitment agencies and employers prey on vulnerable workers.

Limited Job Opportunities: Pakistani workers often struggle to find employment in various countries due to a scarcity of available jobs.

Poor Working Conditions: Numerous Pakistani workers endure harsh working conditions overseas, such as meager wages, excessive working hours, and substandard housing.

Inadequate Government Support: The Pakistani government has faced criticism for its insufficient support of citizens working abroad.

Lack of Standardization: The industry suffers from a lack of uniformity, with varying standards and requirements among different recruitment agencies and employers.

Many Pakistani workers struggle because they don’t have enough opportunities for training and development. This makes it hard for them to improve their skills and compete for jobs internationally.

A Call for Action: Finding Solutions

The problems in Pakistan’s overseas labor industry are complicated and come from many sides. We need a complete plan to solve them. The government, hiring agencies, employers, and the workers themselves all need to work together to tackle these issues.

Solutions for Pakistan’s Overseas Labor Industry

There are some things we can do to fix the problems in Pakistan’s overseas labor industry, such as:

Creating skills training programs: The government and private businesses can start programs to teach Pakistani workers the skills that employers in other countries are looking for.

Recruitment agency oversight: The government could keep a closer watch on recruitment agencies to stop corruption and make sure workers aren’t taken advantage of.

New job programs: The government and businesses could team up to create new job programs, which would give Pakistani workers more chances to find jobs in other countries.

Better working conditions: Employers could make things better for Pakistani workers by paying them fairly, making sure their workplaces are safe, and giving them decent places to live.

More help from the government: The Pakistani government could do more to help its people who are working in other countries, like giving them access to training and career development programs.

Industry-wide standards: The industry could create common rules and practices for recruiting, training, and sending workers abroad, ensuring a more uniform and fair system.

Spreading the Word: We could run public awareness campaigns to teach Pakistani workers about their rights and what’s expected of them when they’re working in other countries.

Conclusion

The business of sending Pakistani workers overseas is dealing with a bunch of issues that really need sorting out if it’s going to keep growing and doing well. But if we put some solutions into action – like offering more skills training, cleaning up the recruitment agency scene, creating more jobs at home, and making working conditions better – then we can tackle these problems. This way, Pakistani workers who go abroad will have better opportunities.

19Oct

Global Labor Market Trends and Opportunities in 2024

The Global Market in 2024 has undergone profound changes, impacting the economy, technology, as well as worldwide demographics. The aftermath of COVID-19 has lingered far into the year 2024, being a pivotal event in the changing dynamics of the global market. Businesses, labor, policymakers, and other stakeholders are finding their way in this new dilemma, adapting to the new opportunities and trends defining the global labor force.

1. Technological Disruption and Digital Transformation

Technological advancement and digital transformation are crucial factors reshaping the global labor market. The advent of Artificial Intelligence (AI), advancements in computers, and automation have increasingly shifted the focus of work to machine-based. The pandemic has been a catalyst in increasing the demand for AI and machine learning which prevails to date and has altered work demands for both businesses and employees.

Automation and AI

The year 2024 continues to see various industries adopting AI and automation. These include manufacturing, agriculture, textile, finance, customer service, and healthcare. This technological upgrade means higher performance and productivity, on the other hand, it also poses a threat to many jobs for respective individuals.

Where AI threatens many jobs, it also opens doors for new opportunities for maintaining, optimizing, and operating these systems. Special skills and expertise will be required for individuals to be able to manage these machines in various sectors. For example, there will be increased opportunities in cybersecurity, robotics, AI development, and data science.

2. Remote Work and Hybrid Models

The global market has seen a profound shift in terms of workplace and environment. The nature of jobs has changed where remote and hybrid work models are prevalent, especially since the pandemic COVID-19, with the urgency to shift work to homes and remote working hours. This has significantly reshaped the labor market on a global level. Many industries have not returned to the previous norm as remote work has proven profitable for these organizations with cost-cutting, less resource utilization, and convenient work conditions. The new normal has also positively impacted employees who demonstrate high performance and productivity with flexible working hours.

Moreover, companies have adopted hybrid work models offering these benefits to retain employees as more people are preferring to work remotely. This means more opportunities for a variety of talents on a global level. This in turn ensures a specialized and diverse workforce with inclusivity. These opportunities also lift geographical limitations which were previously keeping individuals from accessing global jobs.

On the other hand, remote work also comes with its challenges and hurdles. Issues like communication, maintaining work ethics and culture, as well as handling logistics on a virtual-global level are some examples of how remote/hybrid work models can be a hassle for companies.

3. Prioritizing Employee Experience

The demand for soft skills and preference for hybrid work models has shifted the focus to employees. Talent retention has been a major concern for organizations as more opportunities open up and the labor force becomes aware of their value. Therefore, the aim is to improve work experience and culture to keep employees.

It has been understood that employees expect more than salary incentives in their new jobs. They are looking for flexible work hours, work-life balance, and fulfillment of their rights in the organization. The new culture is all about emotional and physical well-being, along with a healthy environment to work in. Employees know there is more to their jobs than merely competitive salaries and bonuses.

Companies are also aware that there is a need for personal growth and development where soft skills and intellectual obstacles are concerned. Therefore, policies have shifted focus on providing skills and expertise where employees can grow professionally and personally. This further prepares them for promotions and career advancements.

4. Sustainability and Green Jobs

The world is shifting its focus to sustainability and environment-friendly experiences. This is another important global market trend in 2024. Countries are working on reducing carbon emissions and transitioning to renewable sources of energy. This means an increased demand for green jobs.

Renewable Energy and Climate Action

There is an increased demand for jobs in areas like environmental management, renewable energy, and sustainability consultation. New opportunities are being created in areas like wind power, electric vehicle manufacturing, and solar energy as the focus shifts to clean energy.

Policymakers, governments, and industrialists are striving to adopt environment-friendly practices and technology to reduce the effects of carbon emissions and other harmful chemicals causing adverse climate changes. Therefore, more jobs are being produced to hire people specialized in this field, who also have the same dedication and values to make this planet a better place to live in.

The labor force has the opportunity to build careers in this area, enhancing skills in problem-solving, resource management, and global climate challenges. This is where the need for new skills and expertise has also found its way to these companies. More experts are required in the fields of engineering, technology, mathematics, and science.

5. Increasing Importance of Soft Skills

For decades, technical skills and vocational training have been in demand for various job fields. Recently, however, the priority has shifted to soft skills like communication, human resource management, problem-solving, critical thinking, and emotional intelligence. With automation technology and artificial intelligence dedicated to routine tasks, humans have been replaced in this field. However, soft skills are human skills that cannot be performed by machines and therefore require individuals capable enough to demonstrate these skills in the workplace.

Companies are now investing in developing these skills and expertise in their employees through training and mentorship programs. These aim to ensure career development, personal growth, and leadership skills in employees.

Conclusion

The global labor market in 2024 is more complex and challenging than ever before. There is so much happening simultaneously. The idea of competitiveness has shifted from salaries to incentives like work-life balance, labor rights, a healthy work environment, and other facilities that develop a sense of safety and growth for the employees.

Companies have also shifted their focus to developing soft skills in their employees, as well as investing in programs for personal and professional growth. All the stakeholders (employers, policymakers, governments, industrialists) are ensuring to adapt to the new market trends.

21Aug

Understanding the Global Talent Shortage Challenge

In Riyadh, Saudi Arabia, one of our esteemed clients, a leading construction company, faced a significant challenge. Despite offering competitive salaries and benefits, they struggled to find workers with the relevant skills to propel their projects forward. The issue wasn’t just about a shortage of workers; it was about the scarcity of workers with the right skills needed for modern construction projects. This challenge isn’t unique to their company. Across the globe, organizations grappled with a talent shortage that seemed to defy traditional solutions.

Talent shortage is a complex issue exacerbated by factors such as 𝑖𝑛𝑎𝑑𝑒𝑞𝑢𝑎𝑡𝑒 𝑒𝑑𝑢𝑐𝑎𝑡𝑖𝑜𝑛 𝑜𝑟 𝑡𝑟𝑎𝑖𝑛𝑖𝑛𝑔, 𝑙𝑖𝑚𝑖𝑡𝑒𝑑 𝑜𝑝𝑝𝑜𝑟𝑡𝑢𝑛𝑖𝑡𝑖𝑒𝑠 𝑓𝑜𝑟 𝑚𝑎𝑟𝑔𝑖𝑛𝑎𝑙𝑖𝑧𝑒𝑑 𝑐𝑜𝑚𝑚𝑢𝑛𝑖𝑡𝑖𝑒𝑠, and 𝑑𝑖𝑠𝑐𝑟𝑒𝑝𝑎𝑛𝑐𝑖𝑒𝑠 𝑏𝑒𝑡𝑤𝑒𝑒𝑛 𝑒𝑚𝑝𝑙𝑜𝑦𝑒𝑟 𝑒𝑥𝑝𝑒𝑐𝑡𝑎𝑡𝑖𝑜𝑛𝑠 and 𝑐𝑎𝑛𝑑𝑖𝑑𝑎𝑡𝑒 skills.

Reasons for Global Talent Shortage:

Demographic Shifts:

Aging populations and low birth rates in many countries have led to a shrinking workforce, creating a gap between the number of available workers and the demand for skilled labor.

Skills Mismatch:

The rapid technological advancements and evolving employer requirements have led to a gap between the skills possessed by job seekers and those required by employers.

Geographic Mismatch:

Unequal distribution of talent across different regions also leads to challenges in finding qualified candidates, especially in areas with limited talent pools. The shift towards remote work has also increased this issue.

Expectations Mismatch:

Cultural misalignment, salary, and benefits expectations also contribute to the talent shortage.

Our experience of the past 𝟒𝟔 𝐲𝐞𝐚𝐫𝐬 in the Recruitment Industry has led us to argue that the real challenge lies in the 𝐒𝐤𝐢𝐥𝐥𝐬 𝐦𝐢𝐬𝐦𝐚𝐭𝐜𝐡. Rapid technological advancements left many job seekers with outdated skills, unable to meet the evolving demands of employers.

Rethinking Talent Acquisition to Overcome the Challenge

To address this challenge, we must prioritize 𝐓𝐚𝐥𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭. By investing in training and education programs, we can bridge the gap between available talent and the skills required by employers. This not only benefits businesses but also empowers individuals, especially those in underserved communities, by enhancing their employability and contributing to economic growth.

At Iqbal Manpower, we understand the challenges of the global talent shortage. As part of our business philosophy, the first principle of our “3R” approach is to find the “Right Man” for the job. In this competitive environment, where the demand from employers is high, we believe in conducting industry-driven training programs. These trainings ensure that talent gains hands-on experience and relevant skills before joining the job. This not only reduces the time and resource wastage for employers but also provides a sense of security for the resources themselves.

Join Iqbal Manpower in reimagining talent acquisition. Let’s focus not only on finding talent but also on nurturing and developing it. Together, we can build a more inclusive and skilled workforce for the future.