Fitch Ratings CEO Explains Why Businesses Need a Mobile Workforce

December 5, 2017

The global economy is on track to do well in 2018. Fitch Ratings predicts that the world will experience a 3.3 percent economic growth next year; but thereafter, things could turn gloomy. CEO Paul Taylor told Cheddar that a lack of employees will become a global economic problem.

Taylor says that, particularly in developed economies, issues such as changing demographics, aging populations, and immigration will impact the world’s ability to fill jobs. However, Taylor foresees that overpopulated places such as India and Africa will not be affected.

“We are going to be stretched to employ enough people to keep our economies going,” he said, adding, “we just wouldn’t have enough workers, absent of the I.T. revolution.”

Taylor says that a growing mobile workforce, where employees work remotely via devices on the global internet, can be the solution to an impending economic doom.

The Society for Human Resource Management says that by 2020, the mobile workforce is projected to make up about 75 percent of U.S. employees, and that a whooping 81 percent of these workers already take full advantage of their companies’ “work from home” policies. Still, the report points out that over a quarter of mobile workers say working remotely can lead to miscommunication with co-workers.

But Taylor believes that remote work is still the key to success.. “You need a fluid workforce,” he says. “I think it’s having a mobile global workforce.”