Where Have All of the People Gone?

The #1 business driver of future success is having a high performance workforce. According to 3 out of 4 respondents in the Dept. of Labor 2005 survey http://www.doleta.gov/wired/files/us_mfg_talent_management.pdf

It's official, EVERYONE (skilled or not) is already working!

The report today by the Labor Department in Washington showed that the unemployment rate has remained at 4.7 percent. http://data.bls.gov/cgi-bin/surveymost?bls

5 % is considered Full Employment. Which means there are almost NO candidates for open positions.

Further in a DOL 2005 Skills Gap Survey; the skills shortage is already affecting 80% of companies surveyed.

The Department of Labor also forecasts a shortage of 10 Million workers by 2010. Retiring Baby Boomers will wipe out 50% of Executive positions in the next 5 years. Then there are the issues of Generation X, Y, and the current one coming into the workplace: the Millenials. Leadership looks ALOT different for them. I'll write another blog about that later.

What to do?
1. Have an active succession plan for replacements for the next 3 years- now.
2. Coach and train likely in-house candidates for executive competencies; leading others, teamwork, personal accountability, and political awareness.
3. Implement Accountability Processes across the board that increase self management and creativity at the individual level.
4. Get serious about Hiring/Selecting good people and keeping them.

Let us know when you want to know how to go about these action steps.
What an amazing time to be alive!
Ellen