the engine of economic prosperity," said Hans-Paul Bürkner, BCG's president and chief executive officer.

The roots of the global talent risk include the widely uneven quality of educational systems, erratic employability of the workers in the Southern Hemisphere, and demographic changes in the Northern Hemisphere, where retirement of the baby boomers will result in an unprecedented talent deficit. In Canada, Germany, the United Kingdom, and the United States, expected immigration and birth rates will not offset the workforce losses caused by aging populations. Today, foreign-born workers with university degrees or equivalent qualifications make up just 2 percent of the European labor market, compared with 4.5 percent in the United States and nearly 10 percent in Canada. Improved education and training must go hand in hand with increased labor migration.

"Theglobal problem is no longer a mere talent mismatch. The scale of the predicted talent gap requires concerted action, starting with -- and going well beyond -- removing barriers to the mobility of talent," said Piers A. Cumberlege, senior director, head of partnership, World Economic Forum.

Extend the pool by tapping women, older professionals, the disadvantaged, and immigrants.

Members of the Global Agenda Council on Skills and Talent Mobility, as well as more than 100 high-level experts and practitioners, contributed to the recommendations in the report and to the talent mobility dialogue hosted by the World Economic Forum online and at meetings in Brussels, Doha, Davos-Klosters, Dubai, Montreal, New Delhi, and New York in 2009 and 2010.

The World Economic Forum Annual Meeting 2011 in Davos-Klosters will seek to catalyze a