By: Fred Coon, Chairman, CEO
According to the May 2013 Workplace Forecast published by the Society for Human Resource Management (SHRM), a combined 98% of HR professionals agreed that a shortage of skilled workers will have a major impact on the workplace over the next 5 years. 87% surveyed reported having problems hiring qualified applicants for high-skilled technical positions and a full 68% attributed this to the decreasing number of science, technology, engineering and math (STEM) graduates in the U.S. compared to other countries.
HR professionals credit the overall decline in workforce readiness to the high number of Generation Y workers entering the labor market, the demand for more specialized fields and a more competitive international job market. Because the next 5 years will also see a large number of Baby Boomers leaving the workforce, nearly 62% of the positions needing to be filled will be openings due to replacement needs, exceeding the number of jobs created by industry growth.
SHRM® Workplace Forecast, May 2013
Ultimately, talent management will remain the highest priority for HR professionals, in addition to determining how to keep that talent longer. Focusing on the next generation of leaders through education and training in the workplace will be a key factor to job retention.
For tips on how to leverage your technical skills and make a company want to hire you, visit our article, Positioning Yourself as a Problem Solver.