GLMC and World Bank Strengthen Partnership to Shape Future of Work

The Global Labor Market Conference (GLMC) has announced a new three-year partnership agreement with the World Bank, aimed at shaping labor systems and formulating policies that align with the future needs of the job market while addressing its evolving challenges.

Building on their previous strategic knowledge partnership, this collaboration strengthens joint efforts, particularly in training policymakers worldwide and conducting research to provide innovative insights to help governments and institutions adapt to the rapid changes impacting labor market demands, employment trends, and workforce policies.

Through this partnership, both parties aim to cultivate a new generation of policymakers, reinforcing the conference’s role as an independent think tank dedicated to developing effective labor market strategies. Policymakers will be selected from countries under the World Bank’s mandate to build a comprehensive and sustainable global labor market environment.

With the global labor market undergoing fundamental shifts driven by unprecedented technological advancements, developing nations are playing an increasingly important role in enhancing global trade. Meanwhile, automation and digital innovation are reshaping industries and economies beyond expectations.

With these rapid changes, there is an increasing need to redefine policies and equip key policymakers with the necessary skills to navigate evolving challenges, thus ensuring that labor markets operate under cohesive and efficient systems that contribute to shared global prosperity.

As part of the partnership, the GLMC Labor Market Academy was launched in collaboration with the World Bank and Takamol Holding. This academy offers a three-year development program covering all aspects of the labor market, aiming to train global labor market experts responsible for future policy formulation and to create an innovative platform for cross-country learning, particularly for low- and middle-income nations.

The academy provides policymakers with a unique opportunity for personal growth, access to rich informational resources, and an extensive international network facilitated by the conference.

The academy was inaugurated during the second edition of the GLMC, where policymakers from over 26 countries gathered in Riyadh to witness its launch. A distinguished team of World Bank experts in labor market policy, social protection, skills development, and workforce growth oversees the academy’s operations.

Additionally, the partnership includes the launch of a Policy Lab, a dedicated platform for in-depth discussions on specific policies, tools, and programs that improve labor market outcomes and workforce skills.

During the second edition of the GLMC in Riyadh, two policy labs will be introduced, playing a crucial role in addressing youth employment challenges, with a focus on Active Labor Market Programs (ALMPs) to enhance employment opportunities and Sector Skills Councils (SSCs) to bridge the gap between employees’ skills and job responsibilities.

World Bank Country Director for the Gulf Cooperation Council (GCC) countries Safaa El Tayeb El-Kogali emphasized the partnership’s goal of promoting knowledge exchange and creating opportunities for global communities to share expertise and skills. She reaffirmed the World Bank’s commitment to supporting the global workforce by ensuring resilience and inclusivity in labor markets.

The GLMC-World Bank partnership seeks to ensure that all nations, particularly emerging economies, can benefit from an inclusive and diverse global labor market through joint research efforts and advanced policy development.