In this special episode of our In Conversation podcast recorded live at our Managing an International Workforce Conference, James Davies, Partner at Lewis Silkin is joined by Ius Laboris colleagues from Canada, Italy and Poland to discuss the rapidly evolving global landscape, from intensifying trade wars and shifting alliances to the rise of populist politics and regional unrest. As the forces of geoeconomic fragmentation reshape international business, our expert panel unpacks the implications for employers managing global workforces, offering a valuable roadmap to stay resilient and competitive in uncertain times.
Key takeaways
1. Be proactive in scanning and responding to evolving policy and regulation. This could include dedicating resource to political and legal horizon-scanning and building up internal capabilities so that businesses can anticipate and adapt quickly when new rules and frameworks emerge.
2. The retrenchment of globalisation, particularly through increased tariffs and trade barriers, has the potential to cause job losses, forcing businesses to seek new export markets as evidenced by the Canadian experience. Prepare for sudden shocks and stress-test exposure to geopolitical risks to ensure workforce plans and business strategies can adapt as circumstances change.
3. Responding to ongoing disruption will depend in large part on developing the right skills. Investing in upskilling and cross-training not only equips people to adapt to new technologies and evolving roles, but also reduces dependence on any single expertise, making the entire business more flexible and adaptable.
4. Geopolitical instability and the prospect of military conflict can have concrete, and highly disruptive workforce implications. Invest early in resilience, flexibility and integration not just to manage disruption but also strengthen long-term competitiveness.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
