Every region of the globe could see population declines by the end of the century – except Africa. According to projections from the World Economic Forum, Africa’s population is set to triple by 2100 and will account for 83% of global population growth seen from 2015 through 2100. Comparatively, Europe’s population is expected to decrease by over 50%.
Amid population shifts, the Fourth Industrial Revolution will spark more advancements in the next 10 years than we’ve seen in the past 250 years, unleashing critical implications for global labor markets, ways of working, innovation and skill requirements. And as populations decrease elsewhere, Africa will be uniquely positioned to deliver a younger workforce that can help meet new demands. However, the economic prosperity hinges on how well-prepared young workers in Africa are for Industry 4.0. Currently, a disparate skills gap has leaders from companies throughout the continent deeply worried about growth and profitability.
Organizations must prioritize workforce development so they can help build a sustainable pipeline that meets the growing global talent needs of today and tomorrow. The following five principals can help organizations across Africa future-proof their talent strategy and lead the next generation global economy.