Why the GFMD Business Mechanism?
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The GFMD is the key international forum to address migration and development interconnections, with a focus on action. It is an informal, non-binding, voluntary and government-led process that reflects the progressive acknowledgement of the value of multilateral approaches to migration and development. Ecuador is chairing the 2019 GFMD.
GFMD Business Mechanism
The GFMD Business Mechanism, endorsed at the 2015 GFMD Summit in Istanbul, brings the voice of business to the forum and serves as a channel to foster the dialogue between businesses and governments. There is clearly a mutual interest in governments, the private sector, and civil society, promoting more transparent, effective and humane migration policies, taking into account labour market needs. The IOE and the World Economic Forum Global Future Council on Migration coordinate the work of the GFMD Business Mechanism, which is housed at the IOE.
The overarching goal of the GFMD Business Mechanism is to advocate for business and migration positions that promote sound migration policies which take into account economic perspectives. We aim at a regulatory environment where labour migration policies support businesses, build competitiveness and resilience, and hence play a key role in society by creating decent jobs and wealth.
Benefits for business
The GFMD Business Mechanism provides a unique platform for businesses to engage with governments at the global level. Business expertise and experience are invaluable as the Business Mechanism refines migration policy recommendations to governments. The Business Mechanism provides access to policymakers with a view to:
- Decreasing the difficulty and cost of recruitment:
The GFMD Business Mechanism contributes to shaping policy that eases recruitment efforts, decreases costs, and helps scale businesses. Improvement in migration policies and frameworks will allow companies to attract and retain top talent. The dissemination of evidence-based regional and global data indicating benefits from talent flow is necessary.
- Making companies shape the rules of the game:
The UN Member States agreed on a historic compact that aims to establish a global framework for managing migration, the Global Compact for Migration (GCM). The Business Mechanism gives business a voice in the process. We offer an avenue to contribute to the solutions of one of the largest current global challenges: the vast number of migrants moving around the globe.
- Sharing strategies for integrating immigrants into the workforce:
The demographic challenges will make it harder to fill positions in your company. The economic case for migration is well proven. The private sector is a key actor in integrating immigrants into the workforce and thereby contributing to closing the skills gap.
- Acquiring tools to navigate the complex world of migration policy and regulation
Business and migration intersect in many ways. The Business Mechanism covers a wide range of migration issues, giving a fuller understanding of the complexities of migration policy.
How to contribute to the GFMD Business Mechanism?
The GFMD Business Mechanism is open to all IOE members, partners, and to individual companies with a stake in migration issues. It is composed of a large network of companies and employers’ organisations which contribute to the work of the Business Mechanism either through panel participation, or input to the publications.