Q: What is the source of the data you use for your presentation, i.e. 2 workers leaving for every 1 entering by 2006, and a shortage of 10 million workers by 2008.
A: The Bureau of Labor Statistics (BLS) is our source for that data.
Q: I have heard some conflicting reports about the US workforce. Some people predict that Boomers will stay longer in the workforce than originally projected because of the stock market. How will this affect the numbers from the BLS?
A: Polls indicate that ready-to-retire workers plan to work longer. However, they want to work on their terms, including more flexible hours, job sharing, flex time and working from home. Our rough calculations say that the 10M worker shortage that BLS predicts may fall to 6 Million. To put this number in perspective, consider that the shortage of IT workers - at its peak - was 400,000. 6 million is a huge number of unfilled jobs.
Q: How can our community's employers prepare for the labor shortage?
A: Employers have several options:
1. Outsource jobs to places where there's talent. (Dell moved its tech support call center to India.)
2. Import talent to your community. (Meriter Health System in Madison, WI imports nurses from the Philippines.)
3. Differentiate yourself as an employer of choice within your region. (SAS Institute.)
4. Get creative in how you staff your organization. Use flex-time, job-sharing, or contract employees. (Microsoft is notorious for its use of Temps.)
5. Hold onto retirees longer. (The Pharmacy industry is exploring how to do this effectively.)
6. Plan your exit strategy.
Q: How does the phenomenon of Gen X'ers seeking a place before seeking a job apply to more rural areas where jobs are limited? Do they create their own, or just seek more urban environments?
A: Rural areas have a lot to offer X'ers. Remember, because of the nature of work, X'ers can work from just about anywhere. Rural communities should also be thoughtful about who they're targeting. The fresh-from-college crowd may roll their eyes, but once X'ers pass that 28-year old mark, get married, and start having families, their priorities shift. Many want to move back "home" where they perceive the schools are better and streets safer. Also, the "Granny Effect" comes into play, as X'ers want their kids to be closer to the grandparents. In terms of jobs, they may create their own, so be sure you have some infrastructure to support entrepreneurs. Or, many married X'ers are downsizing to only one household income.
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