By the year 2030 almost all western countries of the world will experience labor shortages. Seems hard to believe doesn’t it. Simply because of already existing workforce demographics that can’t be changed, in other words a mis-match of skills. Worse still, skilled labor will be the most affected. In just 15 years business will experience both a shortage of skilled staff and/or a mis-match of skills.
Can technology bridge the gap? Probably not. The automotive industry is one of the world’s most automated, yet their labor force has not seen much reduction. The technology seems to just generate new, previously unheard of jobs.
So what to do? Start workforce planning now plus institute training programs to realign staff skills. Once this crisis starts happening workforce planning will be more important than financial planning to the survival of your business. Workforce demographics show businesses will start to feel the pinch in just five years – 2020. Start learning how to train staff now. Learn how to assess training needs now. If you don’t get ahead of the game you may not remain in the game.