The Coming Labor Shortage
August 23, 2005
Dave Lefkow from Jobster has a new article up at ERE discussing the possibility of a nearing labor shortage.
The gist: The possibility of such a shortage is debatable at best but -
Organizations that do a better job finding and deploying their human
capital can increase productivity and be better positioned to succeed
in the face of new labor market realities. Workforce planning and
building pipelines for future hiring needs — instead of reacting to
openings when they are already beyond mission critical — can help
employers stay one step ahead. And strategies to retain older workers
without sacrificing some of the benefits of retirement can be put in
place, whether they are specific to certain industries like healthcare
and engineering that have aging populations, or more widespread."
My view on this dovetails with Dave’s. It’s impossible to accurately predict the size of the labor force, and even if one could, demographics alone don’t help. We’re better off focusing on the things we can control.
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