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Presentation transcript:

Alternative Slides If a copy of Two Million Minutes is not available or you would like to shorten the length of your meeting, use the following slides in place of slides

2 Global Worker Availability and Wage Requirements

LOW-SKILL WORKFORCE 3 Manufacturing Hourly WageAvailability U.S Mexico2.10 China.65 India percent of the world’s workers live in countries where the average wage is less than $1.00 per hour. Source: Sung Won Sohn, Executive Vice President and Chief Economist, Wells Fargo, 2003 / Canamex, 2005 Source: Population Reference at Columbia University, New York, NY

HIGH-SKILL WORKFORCE 4 U.S.India Software Engineer$ 66,100 $10,000 Mechanical Engineer$ 55,600$ 5,900 IT Manager$ 55,000$ 8,500 Accountant$ 41,000$ 5,000 Source: International Labour Organization and the Paaras Group, 2004

5 Global Worker Education

ECONOMIC REALITY What does ready mean in a global economy? 6 Academic Skills Soft Skills Habits of Mind Informational reading Persuasive writing Oral presentation Data analysis & stats Math application Teamwork Work ethic Responsibility Attendance Punctuality Time management Analysis Interpretation Precision & accuracy Problem solving Reasoning Source: Education Week, What Does Ready Mean? June 2007

COLLEGE REALITY What does ready mean in college admissions? 7 College Admission Folder 1.Application 2.Academic Record 3.Standardized Test Scores 4.Recommendations 5.Personal Factor How students spend their free time. Sports, music, community service, hobbies, etc. Source: Parts of an Admission Folder, National Association of College Admissions Counselors, 2008

8 Outsourcing Reality

9 LOW-SKILL WORKFORCE Outsourcing U.S. companies began outsourcing in the 1960’s because of the low cost of labor. As transportation and communications improved so did the outsourcing of manufacturing jobs. Textiles Televisions Shoes Stereos Radios VCRs Toys Auto parts

10 HIGH-SKILL WORKFORCE Outsourcing The 1) reduction of communication costs and the 2) standardization of software packages have now made it possible to easily outsource high-skill jobs. Customer services Medical transcription Telemarketing Tax preparation Document management Financial services

11 HIGH-SKILL WORKFORCE Outsourcing WHAT CEOs SAY: Everything you can send down a wire is up for grabs. Nandan Nilekani, CEO, Infosys Technologies, India There is no job that is America’s God-given right anymore. Carly Fiorina, Former CEO, Hewlett-Packard, U.S.A.

12 Cultural Reality