Amid the current discussion about weakness in the US labor market, we have lost sight of how quickly it has been tightening. Within two years, we will experience the beginning of a 15-year period of tight labor market and growing talent shortages. A lot of the shortages will result from the large wave of baby boomers retiring and the rapid job growth in specific industries and occupations.
These developments will completely change labor market conditions for many types of jobs. Hiring qualified workers will become much more difficult. Retention rates are likely to drop. Compensation growth will accelerate. The need to maintain workforce quality without significantly hurting the bottom line will become a top challenge for many employers.
Preparing for this challenge in advance should be a top priority for executives dealing with human capital topics.
In this seminar, we will discuss the following:
Human Capital Executives, and in particular professionals in strategic workforce planning, talent acquisition, training and development, compensation, human capital analytics, and other executives who deal with strategic planning.
Tuesday, May 20, 2014
Welcome and introductions
Setting the stage: What does the data say about talent shortages?
We discuss the macro trends underlying evolving talent shortages, as well as the specific occupations and industries in which these shortages are most likely to occur
Seminar participants share their challenges and learning objectives related to talent shortages.
The business perspective
How should employers react to the looming talent shortages they face, and what strategies should be explored to better manage their current employees as well as navigate external labor markets
We discuss evolving talent shortages in the context of strategic workforce planning, recruiting, retention, training, compensation, and relocation.
Review and final remarks