Transcript Addressing growing industry needs for qualified manpower

Addressing growing industry needs for qualified manpower
James Benoit
CEO AfrAsia Bank Ltd
Mauritius
Growing Industry – 20 banks
(includes local banks, foreign owned/
subsidiaries/branches & joint ventures)
Movement within the industry has ‘settled down’ recently
Salary levels are 21% higher than other industries (National Statistics Office
2011)
Skills we look for today may not be needed tomorrow environment, industry must become flexible (individual & organisational level)
Fewer traditional working structures
(9 to 5 roles), move
towards 24/7
environment ;customer expectations & global competition
www.mikif.com
Mauritius
Leaders in education - consider the need for students to gain quality work
experience /compulsory internship prior to graduation
Over qualified & under experienced – thousands of students undertaking
finance at tertiary level
Poaching within industry – lack of experience against the need for technical
skills
Global Immigration Laws - Mauritian nationals returning. Provides opportunity
for individuals and employers and more competition for fresh graduates
Candidates with international exposure – help address global & regional
banking needs
www.mikif.com
Global outlook
Global spending on education is $3.9 trillion, or 5.6% of planetary GDP.
USA student debt – all time high – next bubble to burst
Fresh graduates, the challenge to find employment opportunities –
generation ‘Y’ different expectations to their ‘X’ generation bosses
Yet high percentage of unemployment amongst graduates
www.mikif.com
Solutions
Local Government initiatives training schemes, scholarships,
sponsorship & bursaries
HRDC internship programmes
AISEC - international organisation for youth leadership programmes
Move towards the Khan Academy model (e-learning)
www.mikif.com
THINK DIFFERENT
Solutions
Different mind set
– universities/schools/colleges need to
prepare students
Fast moving global environment – employers market with high
levels of unemployment
Employers & educators consider global needs/expectations –
better use of technology/online education facilities
More flexibility than ever in the labour market – trade barriers
removed, migration of talent
www.mikif.com
Solutions
THINK DIFFERENT
Today’s student needs to consider the level of competition on a
global level & position themselves accordingly
Opportunity for Mauritius to position itself a regional
professionals - time zones, language skills & a highly qualified
workforce
www.mikif.com
Thank you
www.mikif.com