Talent Crunch to Add Trillions to Global Payrolls by 2030

If you’re a skilled employee, you might want to work in Hong Kong and Singapore in the coming decade or so. An undersupply of highly skilled workers could cause salaries to surge, adding more than $2.5 trillion to the annual cost of labor globally by 2030, affecting profitability and threatening business models, according to a study by Korn Ferry. Of 20 economies examined, smaller ones with limited talent pools like the two Asian financial centers will have to pay the highest average wage premiums per person -- unlike India, which is expected to have a talent surplus in 2030.