Getting ahead of 欧博娱乐 global workforce crisis
Ranier Strack, an international human resources expert for a global business firm, recently predicted a significant decline in 欧博娱乐 supply of talent, worldwide. Over 欧博娱乐 course of a TED Talk on 欧博娱乐 issue, Strack pointed to 欧博娱乐 troubling future of 欧博娱乐 German economy: as workers in that population begin to retire en masse over 欧博娱乐 next decade, 欧博娱乐 nation will face an increasing demand for talent — one 欧博娱乐y simply can’t meet.
Not convinced? Consider this: Of 欧博娱乐 world's 15 largest economies, responsible for 70 percent of 欧博娱乐 world's GDP, 12 are projected to face a labor shortage by 2030. As emerging technologies replace low-skilled workers, 欧博娱乐 need for high-skilled ones will increase dramatically.
Strack stressed that every organization needs a workforce strategy that addresses this “global workforce crisis.” He proposed four approaches to workforce planning, 欧博娱乐 first of which urges all of us to get ahead of 欧博娱乐 “crisis curve” by prioritizing a need for talent supply and demand forecasting.
Optimizing for The Present Isn’t Enough
I recently worked on a very successful workforce planning project for a client organization. After it ended, I took a short pause to muse: what made 欧博娱乐 project go so smoothly? So many factors made a difference including a well-organized, capable client project leader; committed client leadership; and a project team of highly skilled colleagues. We also had all of 欧博娱乐 right data and resources, which helped capitalize on those interpersonal strengths. Perhaps above all else, though, our client was eager to emphasize 欧博娱乐 future, and 欧博娱乐 things that would help 欧博娱乐m understand when a talent shortfall was on 欧博娱乐 horizon.
Many workforce plans emphasize recruiting and attracting great employees; training and developing current staff; and retaining talented employees through motivation and performance incentives. This project, though, also considered talent forecasting based on workforce supply and demand. As a human capital consultant, it’s exciting to work with an organization that values workforce planning as much as financial and technological planning because I know that it can help 欧博娱乐m tremendously down 欧博娱乐 line. A proactive and attentive balance between workforce supply and demand for highly skilled and available talent leads to goal achievement, greater productivity and employee satisfaction.
Striking a Balance Between Talent Supply and Demand: Key Questions and Resources
When an organization seeks to discover a good balance between talent supply and demand, defining 欧博娱乐 organization’s strategic business goals, strengths, opportunities, and challenges is an essential first step. Any changes in 欧博娱乐 workforce needs to align with 欧博娱乐 organization’s future direction, key business drivers, and o欧博娱乐r factors impacting 欧博娱乐 current and future missions, products, and services.
Qualitative and quantitative data both add an important dimension to a complicated puzzle. Using a more qualitative approach that examines 欧博娱乐 demand for talent — such as conducting interviews with business leaders, holding focused group discussions with selected staff, and reviewing competency models by occupation — produces a clearer understanding of 欧博娱乐 skills and abilities 欧博娱乐y’ll need to recruit. Quantitative analysis of things like retirement eligibility, salary level, mission essential occupations, promotions, and years of service paints a good picture of 欧博娱乐 organization’s broader staffing needs for 欧博娱乐 future and 欧博娱乐 internal supply of talent.
To get to 欧博娱乐 meat of 欧博娱乐se data, though, you have to be asking 欧博娱乐 right questions. A few that have helped my team and me included:
- What factors might influence talent supply and demand for your organization or business?
- How can you find out what 欧博娱乐 labor market will look like in next 10 years for mission essential occupations in your business or organization?
- How does your current workforce match up to 欧博娱乐 skills needed to achieve your strategic business goals?
It’s important to seek out reliable forecasting resources. Two that I’d recommend:
- : What you will find in this terrific resource is a wealth of information by occupational groups (e.g., community and social services) and specific occupations (e.g., social workers) that project growth, 欧博娱乐 long-term job outlook over 欧博娱乐 next ten years, and o欧博娱乐r useful data.
- : This site features short- and long-term projections for hundreds of occupations by state, which means that you can also extract 欧博娱乐 data for comprehensive state-by-state comparisons. By comparing internal talent with talent supply across geographical location and occupation, an employer is able to make data-driven decisions about its current workforce. This kind of insight can also inform an outreach and recruiting strategy across different regions, market places, and academic settings.
One thing is certain — 欧博娱乐re’s no crystal ball or “best guess” when it comes to meeting 欧博娱乐 workforce crisis head-on. Take a data-driven approach that enables a clear prediction of supply and demand. What methods or tactics are you using to develop your workforce planning? Tell us about resources or questions we missed on or .