recruited.
He said after sometime the workers start realising that he is over-qualified for the job or that his services are under-utilised. Such feeling does impact efficiency of the worker, he said, adding that labour markets in Pakistan have not kept pace with the ever-increasing shift in the global economy.
Workers’ inefficiencies have taken their toll on the competitiveness of the Pakistani products, he said, adding that Pakistani industries need will and efficient workers that enjoy their job.
An entrepreneur Usman Malik said that the inability to find talent through normal advertising or HR experts has made the labour markets in Pakistan dysfunctional.
Many organisations are now looking for suitable workers at online talent platforms such as LinkedIn and others that effectively connect individuals with work opportunities.
He said one advantage of online talent platforms is their ability to inject transparency and dynamism into the job markets. Developed economies and even Indians are benefiting from these platforms, he said.
There is a need to change corporate practices, individual mindsets and regulatory frameworks to capture the benefits of online platforms.
He said, “We could make our labour markets work through right investment and innovation by the private sector.”
A few thousands in Pakistan use these online services and they have improved their capabilities, Malik said, adding, “Let us admit that around 40 percent of our population is either unemployed or grossly under employed, which includes educated and skilled persons, as well. By taking benefits of these platforms we can achieve significant benefits for our economy and unemployed.”
In countries around the world, 30 percent to 45 percent of the working-age population is unemployed, inactive in the workforce, or working only on a part time basis.
In Brazil, China, Germany, India, Japan, the United Kingdom, and the United States, this adds up to 850 million people, he said.
Online talent platforms increase the transparency of the demand for skills, enabling young people to make better educational choices. As a result, more effective spending on tertiary education could reduce some of the $89 billion misallocation one finds in Brazil, China, Germany, India, Japan, the United Kingdom and the United States. Capturing this potential will require expanded broadband access, updated labour market regulations, systems for delivering benefits to workers, and clearer data-ownership and privacy rules.
“We calculate that the adoption of these platforms could increase the output of companies by up to nine percent and reduce the cost of recruiting talent and of human resources generally by as much as seven percent.