POLICY EXPECTATIONS TO FOSTER ACCESS TO TALENT AND CREATION OF JOBS.

POLICY EXPECTATIONS TO FOSTER ACCESS TO TALENT AND CREATION OF JOBS.

Entrepreneurs face many challenges in creating jobs. Often, these challenges can be unique to a specific country or region due to prevailing public policies and regulations. However, entrepreneurs and local experts agreed on six broad policy themes that could help entrepreneurs find and hire talent and, in the process, significantly boost the number of jobs they create (Figure 18).

  1. Support vocational training and apprenticeship. Vocational training and apprenticeships are now recognized as critical to helping develop new skills in existing talent pools. However, entrepreneurs believe current programs must be amplified, except in a few countries where they are either recognized as well developed (such as Germany) or as being developed at scale (in the UK, for instance).
  2. Develop STEM graduates. Entrepreneurs need access to a greater talent pool for STEM graduates; hence, the expressed need for the development of STEM graduates at an accelerated pace in the G20 countries. The gap between supply of and demand for STEM is widening and impeding the development of entrepreneurs’ businesses—whether focused specifically on digital goods and services or not.
  3. Increase labor market flexibility. Greater policy attention to the cost of labor and labor market flexibility is particularly important to entrepreneurs, who seek to boost youth employment but have no guarantee that their business will succeed. Italy, for instance, recently adopted new legislation that recognizes, for the first time, the unique needs of the start-up ecosystem by allowing flexible labor contracts (fixed terms lasting six to 36 months), specific variable pay packages, and tax benefits. Thus, a better match between skills supply and demand for skills is wanted by many entrepreneurs.4
  4. Encourage entrepreneurship culture through new methods of education/learning. Many entrepreneurs are looking for new approaches to education, and learning can be developed at scale to further enhance an entrepreneurial culture throughout G20 countries. Examples include dedicated Massive Online Open Courses (MOOCs); specific university programs, such as the EXIST program in Germany (which facilitates the development of new businesses through financial grants for tech infrastructures created for startups by universities); and courses given by entrepreneurs in universities to encourage potential young entrepreneurs to create their own businesses.

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