Monday, July 18, 2005
Retiring Baby Boomers Will Cause Major Skills Unbalance by 2008
As the baby-boomer generation retires, 19 percent of the workforce holding executive, administrative and managerial positions in the United States will leave the workplace by 2008. It’s clear if companies don’t have a real time picture of employee talents and can’t pin point where new skills are needed, it will be challenging for companies to handle the large-scale transition in the workforce.
Just recently a new global study was published illustrating the risk of business growth as employers lack knowledge of employee talent that is vital to compete in fast changing global markets.
The study, which surveyed over 300 Chief Human Resource Officers (CHRO) found that over 60 percent of CHROs had difficulty identifying and developing the critical employee skills and talents that are vital to remain competitive. Fewer than half of the CHRO’s could confirm that their company was adequately equipped to respond to the CEO’s growth and responsiveness priorities.
One way to address this problem is with, you guessed it, a supply chain. Similar to the way a supply chain can track brake pads, bottled water or jeans, it can also track employee talent. Check back soon to read how some organizations are doing this today.