Global labor market: Providing employment opportunities for young professionals

Abstract

The article is devoted to research into retention strategies with a focus on young professionals working in the global labor market. Elements of statistical and economic analysis were used for further development of a Russian problem-solving model to be employed in this sphere. The lack of qualified specialists typical of European countries is becoming increasingly relevant in the Russian labor market. Russian employers have accumulated certain experience of retaining young talent in nationally oriented organizations, but as far as overseas expansion of business is concerned, the same aspect has been explored to a lesser degree. The research base insufficient for making statistical conclusions about the scale of this phenomenon and distribution groups of its manifestations hampers diagnostics and prevention of corresponding problems. The article substantiates the viability of international experience of researching risks involved in HR management and sets out groups of primary and secondary sources of HR risks. The nature of HR management problems in the context of the global labor market is also explained in the article. Scientific theories concerning young talent motivation are structured according to staffing policies: ethnocentric, polycentric, regiocentric and geocentric. The authors have identified specific features of scientific ideas of the values and behavior patterns preferred by young professionals, which can help to develop corresponding retention strategies.