The line from Bruce Springsteen’s song My Hometown mourns the loss of factory jobs in a small American town, but it may become a prophetic lament for the whole world if a McKinsey Global Institute study of employment trends proves accurate. According to the study, between 90 and 95 million low-skill workers worldwide – about 2.6% of the global workforce – will be made “permanently” jobless by 2020.
As the US presidential campaign heats up, the rhetoric from both sides about saving, creating and otherwise commanding jobs to appear will be front and center. But the problem is not a lack of jobs. According to the McKinsey study, about 80 million new jobs will be available. The problem is they will require skills, experience and training that many workers simply will not have. High structural unemployment (6% worldwide today) will not be resolved by government “make work” programs or fighting over the diminishing number of low-skilled employment opportunities, but by raising the skill, training and educational levels of workforces.
Thomas Jefferson opined that the American Experiment could not succeed without an educated citizenry. Now, it turns out, either can the world economy.
Are your training and development programs informed about and aligned with the workforce you will need ten years from now?
According to a survey of employers conducted by staffing company Manpower, the local jobs outlook here in Colorado Springs for the July – September quarter of 2012 is the most optimistic since 2008 and leads both the State of Colorado and the Nation in the percentage of employers planning to add jobs in the third quarter. Colorado Springs placed eighth among the 100 cities included in the survey, with 28% of employers planning to add staff and only 7% forecasting reductions. Statewide, 24% of Colorado employers expect to add staff. Nationally, 21% are looking to expand employment.
The job picture improvement is broad based, encompassing all industries except education, healthcare, non-durable goods manufacturing and the public sector.
While this is welcome news for employers and job seekers alike, this would be a good time for employers to assess their exposure to increased turnover and a more competitive recruiting environment as the employment picture continues to improve.
Employers need to be aware of significant changes to the rules regarding the hiring of candidates with criminal records. By a 4 -1 vote, the EEOC has issued new guidelines stating that employers may no longer deny employment to an applicant based on a prior criminal conviction unless the conviction is directly related to the job for which they are applying.
Read the following article from the Profiles International Employee Assessment Solutions blog for more details:
Tyche (pronounced Tee-chee) is the daughter of Zeus and the Greek Goddess of Fortune and Prosperity. Often, she was portrayed as the rudder of destiny.
At Tyche Consulting, we believe that the fortune of organizations is not a matter of chance. Having the right people doing the right things well makes the difference between consistently great performance and disappointing results. Prosperity follows naturally.
We are committed to helping our clients steer the right course for them. We are focused on your prosperity— that is our course.