The steps are being taken to mitigate the effect of major issues related to economy and growth prospects. However the organizations need to ensure that they have right workforce that can take advantage of the support being provided. Several studies have been conducted that conform to that the absence of workforce has created gap between the available resources and the actions of the organization.
One of the studies shows that although economic factors are quite important and relevant, the key reasons for migration of people to other countries include challenges and job satisfaction. The missing of these aspects influence managers to migrate to regions where there are opportunities.
According to another study the loss of skilled workforce pose greater challenges than other resources. Further highly skilled workforce enhances the technological innovation and diffusion . The lack of policy framework for industrial and management training has led to reduction in capacity of skill levels to augment productivity within the New Zealand economy. The studies reveal that effective management during the uncertain, complex, dynamic and turbulent environment tends to fail and face downturn. New Zealand has also been facing the same issue i.e. to develop strategies to remain competitive. For this development of management skills is also quite important.
All these studies reveal that the development of skills in the workforce is quite important. If the efficient and talented team is retained, the strategies can be developed and competitiveness will be there . Thus it is important that focus on development and retaining of the efficient workforce is there. At the same time strategies and policies are also developed for such development.