With declining populations, many of the G8 nations are facing fierce competition in
acquiring the skill, knowledge and experience they need not only to replace
the rapidly increasing number of retiring workers, but to bolster their workforce to meet the challenges posed by new, emerging economies. The race for a skilled workforce is about to become a hotly-contested international fray.
There are already significant shortages in some key areas, and companies are havinjg to look further afield for suitable replacements.
Many businesses have dropped their guard in this respect, lulled into complacency by the fact that they have recently been (and in some cases still are) laying off workers as a result of the recession.
However, the world economy is starting to turn, and the race for manpower is about to begin in earnest.
Recognition of this fact is paramount for all businesses if they aim to remain relevant and profitable, and wish to ensure their existence into the next decade.
Business leaders who fail to take the necessary steps now to face and deal with these challenges will at best leave a legacy of responsibility for their company’s long-term demise, and at worst will lead their businesses into short-term bankruptcy.
There are a few steps that you, as a business leader, should be proactively taking to begin addressing the coming workforce challenges.
1. You should start close to home, and ensure that you are offering your current workforce very competitive remuneration, perks and working conditions. Workforce retention will be paramount in the challenging times ahead.
2. You should start advertising yourself as being an employer of choice, highlighting your strengths, and backing these up with testimonials from satisfied employees. This needs to happen long before you need to start your hiring processes. This advertising needs to take place in every location that you foresee your current and future recruiting activities taking place, both at home and abroad.
3. You have to reach out to the local youth of your city, state/province and country to start advocating for those career types where you are currently experiencing or foresee workforce shortages. You need to grab the attention of high school, college and university students NOW, to make them aware of and interested in these job types, so that they can make the necessary course selections. This obviously also presents a perfect opportunity for you to advertise your merits to future prospective employees.
While it will be necessary to recruit from other countries, this has its own challenges, and having access to workers from your immediate environment is still the best solution.