Workforce Development - A Good Investment?

They Say It's Only Going to Get Worse. Really?

A recent article published at HR World, entitled "Job Filling Is Only Going to Get Harder" provides a glimpse into the future for employers.

“These numbers indicate a critical need for talent that’s forcing organizations to rethink their hiring and retention practices-or suffer the consequences,” said Steve Watson, international chairman of Stanton Chase, which has 57 offices in 35 countries and is a top 10-ranked global retained search firm.

Two-thirds of the firms are concerned . . . and another two-third are at least partially prepared for it.

However, according to the survey, 36 percent of employers are taking the bury head in sand route. That’s always productive.

Think it’s hard to fill jobs now? It’s going to get even harder. According to a recent survey by Stanton Chase International and Birkman International, there will be 11.5 million more jobs then workers by the year 2010. Why?

According to the research data from many sources, it’s because baby boomers are retiring and the new generation of workers have different work ethics, talent and expectations then their older counterparts.

I disagree and think this is view is a bit simplistic.  The worker shortage involves the boomer retirements, but you also have to factor in the shifting global demand for workers, a lower birthrate, people waiting until a later age to start families, shifting attitudes about work, and on and on.

The "Perfect Labor Storm" and Why It Isn't Going Away

Among the top experts in the discussion of the "Perfect Labor Storm" is Ira Wolfe, who authored the book by the same title.

The book discusses why the aging workers, retiring baby boomers, rising health care costs, shortages of skilled workers, generational gaps, work ethics (just a few of the workforce demographic and socio-economic events that I discuss on this blog) are colliding to produce the biggest shortage of skilled workers in the United States and many other developed countries.

It's a good read, and worth the time, especially if you're an employer or policy maker.

Here's a synopsis of what you'll find...

Many managers and business owners and even economists and strategists are hoping for a break in the socio-economic "climate" and praying this storm too will pass. Human resource professionals, executives, and managers alike wrongly believe they are the isolated targets of some insidious plot to abscond with their workers or else are just magnets for under-skilled workers with poor work ethics. And not unlike the Andrea Gail which was sucked under by the colossal waves even two days before the full force of the storm hit, their businesses too will sink with this short-sighted, wait-and-see attitude.

All workforce trends indicate future employee shortages will not blow over for decades. Many solutions such as retaining older workers longer are flawed. Since health care and retirement costs explode for workers over age 55, how will businesses afford to insure these workers....and without health care and retirement benefits, why will they work? Even worse the full force of the storm won't hit until the end of this decade.

The Perfect Labor Storm has no industry or geographic boundaries. From plumbers to dental hygienists to teachers to border patrol to radiologists, virtually every industry at nearly every skill and position level is affected by shortages of workers with the right skills and attitudes to do all the jobs.

Is this starting to get you attention?  It should!  Besides Dr Wolfe's book, check out the other parts of this blog to get a better understanding of why this is an issue, and most importantly, what you can do about it.

Mission of this blog

This blog is focused on addressing practical ways to address the worsening skilled labor shortage in todays business marketplace. Through this medium I hope to provide participants a better understand the dynamics of the 21st Century labor market, and discuss the challenges and realities of finding skilled workers today. Additionally I hope to engage in vigorous dialog about how to transform managers and supervisors into tomorrows leaders, and look at the process of hiring and promote the right people so it can happen the right way the first time. Finally I hope to investigate ways to enhance the technical and managerial skills of the existing workforce, and look at approaches that seem to working for companies with respect to programs that can be established with educational resources, professional associations, government agencies and community organizations.