You Should Know -
Labor Shortage:
Australia: School of true life
An animation company is training the footsoldiers for a revolution in the way
many industries work, Padma Iyer reports
DELAIDE has become a far more animated place with the injection of $1 million in
federal funding to establish an international visualisation centre. The grant,
awarded to True Life Creations (TLC), will enable 3D animation experts and
trainers at the company's subsidiary, Multimedia Animation & Design, to "produce
employable talent to feed into the new media industries such as film, broadcast,
games and design visualisation", says True Life founder Sam Papas. (Australian)
Canada: Canada's Talent Pipeline Dries Up-Energy Sector Hit
by Severe Labour Shortage: Deloitte Survey
- While majority of organizations confirmed the talent shortage already cripples
productivity and impacts production, only 18% have strategies in place to face
the challenge -
Canada's energy and resources sector is in a labour "pinch" that is expected to
deepen in the coming years, reveals a Deloitte survey released today. According
to the survey findings, a vast majority of respondents (80%) confirmed that
talent shortage has limited the productivity and efficiency of their
organizations, and more than half (55%) acknowledged the lack of skilled workers
has impacted production requirements and customer demand. The 2006 Energy and
Resources Talent Pulse Survey conducted by Deloitte, with the support of the
Energy Council of Canada included 55 respondents from Canadian oil and gas,
utilities and mining companies. (CCNMatthews)
Energy, oil mining sectors feeling skills shortage
Vancouver resident Cogan Ruckstuhl was considering a career as a carpenter or a
millwright when he decided troubleshooting power lines was the best career
direction. B.C. Hydro appreciates his choice. As an apprentice power-line
technician with Hydro, Ruckstuhl is helping the utility fill the hole created by
large numbers of retiring boom-generation technicians. "There's never
going to be a shortage of work," said Ruckstuhl, 22. "They're not able to hire
as many guys as the ones retiring." (TheProvince)
Talent crunch has industry, educators teaming on solutions
The predictions of an impending talent shortage in Canada may seem like an empty
threat to many, but in the country's accounting industry it's already a harsh
reality. In the post-Enron era, there has been a work overload and talent crunch
that is making staff recruiting and retention a whole new ballgame. (Ottawa
Business Journal)
Global: Reverse mentoring a way to keep talent at work
The headline from the "pro-spotting" research: Real leadership pros are
preparing for the future workplace. The issues are varied: Boomers retiring,
Generation-Y people company-hop, talented employees leave to become
entrepreneurs. Some say these trends will create a corporate labor shortage. It
is debatable, but there's no shortage of opinions. Google "baby boomer labor
shortage," and there are hundreds of thousands of hits. Their statistics ought
to concern companies. The pros watch, keep perspective and act wisely knowing
several "givens":
Competition for the best people is always stiff.
A huge "knowledge transfer" will happen as boomers
retire.
Hiring and retaining talented people is essential for
success.
Companies Mixed on Whether Talent Shortage Will Soon Impact
Growth Plans
Corporate employers are generally divided on the question of whether a
long-anticipated shortage of talent will soon emerge and stress their growth
plans. While most companies have seen some signs of a talent shortage, 39%
report no such indications. At the same time, one-third of organizations have
already taken steps to update selection and recruitment criteria. Nevertheless,
10% of employers expect no shortage of talent in the next decade. (Inside
Recruiting)
The Inside Scoop on Staffing Companies These firms stand to profit from an aging workforce.
The aging United States workforce boasts broad implications for the country. The
78 million strong baby boomer population (those born between 1946 and 1964) not
only controls much of the nation's net worth and makes up about half of U.S.
discretionary spending, but it also accounts for a significant portion of the
U.S. labor force. According to the Bureau of Labor Statistics, the 55 and older
age group is projected to gain share of the U.S. labor force, from about 16%
currently to 21.2% by 2014. Let's take a look at how an older workforce might
create some investing opportunities in the staffing industry. According to IDC,
a global provider of industry information, about 19% of the entire U.S.
workforce holding executive, administrative, and managerial positions will
retire in the next five years, which we think bodes well for firms like (Morningstar)
India:
Do you have a successor?
Instead of succession planning, most Indian firms still take short-cuts like
increasing the retirement age of directors.
On his 60th birthday last Sunday, N R Narayana Murthy stepped down as the
executive chairman of Infosys, as per his company's retirement policy. Barely
three days later, engineering giant Larsen & Toubro (L&T) decided to move a
resolution seeking to increase the retirement age of its chief executive from 65
years to 70. For other directors, the age limit will be 67 from the current 65.
A news report quotes Chairman and Managing Director A M Naik (who turns 65 in
June) saying that the move has been forced by acute talent shortage at the
senior management level. (Business
Standard)
IT firms face severe talent shortage
India might be training more information technology professionals than most
other countries. Yet, the sector is facing a severe talent crunch.
Companies are finding it increasingly more difficult to fill vacancies. While IT
companies are projected to hire 3,00,000 professionals by March 31, 2007,
according to a study conducted by Accenture, the country's 1,400-odd engineering
colleges will churn out only 2,20,000 graduates - 80,000 short of the demand.
More importantly, only a small fraction of these have a good grasp of
fundamentals and are employable. The bottomline is, these schools aren't
churning out the right talent. This is reflected in the low selection ratios. (Rediff)
Malaysia:
Asian electronics address possible talent shortage in region
Threatened by the possible shortage of engineering talent in Asia, chip makers
are taking matters into their own hands by partnering with governments and
universities to groom future talent. K.C. Yoon, managing director for assembly
and test at Intel Malaysia, said in an interview that the increasingly
sophisticated range of functions handled by Asian plants was changing the skill
sets required by the local electronics industry. "The demographics of the
workforce have changed significantly from the past where it was predominantly
operators and labor-intensive, low-cost manufacturing," Yoon said. "Now we're
taking on a lot more design and development activities and the demand for
engineers is higher." (EETimes)
Singapore: How to Clone Switzerland Tiny Singapore is becoming a wealth-management haven by cleverly
mimicking what made Zurich and Geneva rich
Several years ago, executives with Singapore's major private banks came to the
government with an enviable problem. Asia was minting so many rich people, and
the lucrative business of managing their wealth was growing so rapidly, that
there weren't enough skilled private bankers to go around. The talent shortage
was so acute that banks reportedly were hiring local hairdressers and car
salesmen and turning them into private bankers. They were also stealing
employees from rival banks. "There were a lot of complaints to the Monetary
Authority of Singapore about poaching," says Annie Wee, a former private banker
with Credit Agricole Indosuez in Singapore. "Clients began to complain, too." (Time)
US: Proposed immigration laws could heavily
impact U.S. labor force
Imagine 7.2 million laborers disappearing from the American workforce.
What would happen to prices, wages, the unemployment rate? The question could
become more than academic if Congress passes stricter laws meant to stop illegal
immigration and punish employers who hire undocumented workers, such as a bill
passed in the House of Representatives this spring sponsored by Wisconsin
Republican James Sensenbrenner (Gazette)
A Labored Solution
With the fall peach harvest nearly complete, local growers say they have dodged
a looming labor shortage — for at least one more year. Despite a shortage
of available migrant laborers, area farmers and orchard growers told The Daily
Sentinel the federal H-2A visa program, while costly and unwieldy, has kept
their laborer bunkhouses full and their crops en route to the market.
Donovan Talbott, operations manager at C&R Farms in Palisade, said he usually
relied on "local labor" to staff his packing shed, but he recently encountered
problems with finding enough hands to keep his peach operation moving. (GJSentinnel)
Iowa faces labor shortage in next few years
On Labor Day 2006, many labor and civic leaders in Iowa worry about what life in
the workplace will be like on Labor Day 2011 and beyond. With good reason. Union
leaders say Iowa needs higher-paying jobs, lower taxes and a higher minimum
wage. Business leaders say regionalism is the best approach to economic growth.
But the biggest problem of all smothers the others, experts say. The labor
shortage in Iowa in the next few years could be astronomical. (globegazedtte)
Labor shortage limits growth at US Gulf shipyards
The shipbuilding industry in the U.S. Gulf Coast is still struggling to expand
and grow one year after Hurricane Katrina caused widespread devastation in the
several Gulf coast states, industry sources said on Friday. Shipyards in
Mississippi, Louisiana, Texas and Alabama are being squeezed by a labor shortage
and an increased work load for repairs. The work backlog for some shipyards is
so heavy that they have had to turn away large potential new ship orders. The
labor shortage problem has the biggest impact on shipyards in Mississippi and
Louisiana, where most yards are operating at 90 to 100 percent capacity. (Reuters)
Pats offer lesson in team-building
Football season is just about upon us, and many of us are thinking about another
Super Bowl championship. One doesn't have to be very old to remember when the
Super Bowl and the New England Patriots were names that were not said in the
same sentence. The Packers, Cowboys, Steelers and 49ers were champions, but New
England'' Yet after three titles, we have come to expect a championship every
year. How did we get this way'' Scott Pioli, who is the Patriots' vice president
of player personnel, shared the team's secret in a recent interview. He and
coach Bill Belichick have a philosophy that they will always build a team that
competes for a championship. This is not a short-term philosophy of win this
year and worry about next year later, but a philosophy of winning now while
always keeping an eye on the future. A big part of this philosophy is talent
acquisition. Pioli's job is to get the talent for the coach. The talent they go
after is special. It is talent that fits with the Patriots' belief system. Once
assembled, the coach must then build a culture in the locker room that is in
line with the philosophy of the organization. The culture of the locker room is
key, and everyone must buy into their overriding philosophy.(MaineToday)
Deep Release:
Spherion Employment Report: Employee Confidence Drops Sharply in August
-- Employee Confidence Index Drops to Lowest Level Since October 2005
-- Fewer Workers Confident in Economy and Job Market
-- Job Security Remains High; 79 Percent Believe Jobs Are
Secure
Despite a July rebound worker confidence declined sharply in
August, according to a recent survey of 3,188 employed adults in the U.S. The
Spherion(R) Employee Confidence Index, a monthly gauge of overall worker
confidence, decreased 2.1 points to 55.7 in August. This is the lowest index
point recorded since October 2005 when it was 54.1. A significant drop in
workers' confidence in the current health of the economy and job market fueled
the overall decline. The survey, conducted by Harris Interactive(R) on behalf of
Spherion Corporation (NYSE:SFN), shows that nearly half of workers (47 percent)
believe the economy is weakening (an increase of three percentage points from
July) and 42 percent think that fewer jobs are now available, a four percentage
point increase from July.
Workers' personal confidence also declined in August, but the
drop was less significant. Sixty-three percent said they had confidence in the
future of their employer (a drop of two percentage points from July) and 57
percent remain confident in their ability to find a new job.
However, the decline in overall confidence didn't affect how
workers feel about their own job security and likelihood to make a job change.
Seventy-nine percent of workers remain confident that their jobs will not be
eliminated in the next year, showing no change from July. More than one-third of
workers (35 percent) still plan to change jobs over the next twelve months, also
unchanged from July.
"As we mark the Labor Day holiday on a rather weak note in
terms of worker confidence, it's important to recognize that while some
uncertainty exists about the macroeconomic situation, the confidence of the U.S.
workforce remains quite high," said Roy Krause, president and chief executive
officer of Spherion. "Though it has slowed a bit in the past few months, job
growth remains positive and widespread and we continue to see steady demand
across the country for talent on both a permanent and contingent basis.
"And while their outlook on the economy and job situation has
been dampened, the August confidence numbers once again show us that workers'
views of the economy don't have a great impact on how they feel about their own
job situation and likelihood of changing jobs. We have a personally confident
workforce who believes in their own abilities and the success of their current
employers."
Results from the August Spherion Employment Report:
Employee Confidence Index: Workers' Confidence Decreases in
August
The Employee Confidence Index was 55.7 in August, falling 2.1 points from July.
The Index, which measures workers' confidence in their personal employment
situation and the macroeconomic environment, decreased primarily because fewer
workers reported optimism in the strength of the economy and confidence in the
availability of jobs. The Index is 2.9 points lower than the level recorded a
year ago.
-- Macroeconomic Confidence Index Falls: The Macroeconomic
Confidence Index decreased to 38.2 in August, a 3.4-point drop from July, as
more workers were pessimistic about the strength of the economy and availability
of jobs. The Index level is 4.8 points lower than a year ago.
Specific findings from the Macroeconomic Confidence Index
include:
-- 42 percent of U.S. adult workers believe that fewer jobs are available,
compared to 38 percent in July.
-- 18 percent of U.S. adult workers believe the economy is getting stronger,
down five percentage points from the previous month.
-- Personal Confidence Index Declines Slightly: The Personal
Confidence Index was 73.2 in August, down 0.8 points from July. A drop in the
percentage of workers confident in the future of their employers fueled this
slight decrease. The Index level is 0.9 points lower than in August 2005.
Specific findings from the Personal Confidence Index
include:
-- 63 percent of U.S. adult workers feel confident in the
future of their employer, compared to 65 percent in July.
-- 57 percent of U.S. adult workers have confidence in their own ability to find
a new job, showing no change from the previous month.
Job Security Index: Workers' Confidence in Job Security
Unchanged
-- For the second consecutive month, 79 percent of the U.S. workforce indicates
it is unlikely that they will lose their jobs in the next year. The Job Security
Index is one percentage point lower than a year ago.
Job Transition Index: Percentage of Workers Planning to
Search for New Job Unchanged
-- 35 percent of U.S. workers said they are likely to look for a new job in the
next 12 months, showing no change from July. The Index is four percentage points
lower than the level reported in August 2005.
About the Spherion Employment Report
As part of the Spherion(R) Emerging Workforce(R) Series of
employment surveys, the monthly Spherion Employment Report provides a snapshot
of the latest workforce trends across the country and is issued in conjunction
with state and national labor market releases. Three key indices are measured:
the Spherion Job Security Index, which captures how likely respondents think it
is that they will lose their job or that their job will be eliminated in the
next 12 months; the Spherion Job Transition Index, which captures how likely
respondents are to look for a new job in the next 12 months; and the Employee
Confidence Index, which measures employees' overall confidence in the economy,
the future of their employer, the availability of jobs, and their ability to
find other employment. The Employee Confidence Index is based on these four
components, with a 'score' calculated for each by taking the difference of the
percentage of positive responses and the percentage of negative responses. These
four scores are then averaged to indicate an overall level of employee
confidence scaled from 0 (no confidence) to 100 (complete confidence). A reading
above 50 indicates a positive confidence level.
Methodology
The August 2006 Spherion(R) Employment Report is based on data
from the Harris Interactive QuickQuery(SM) online omnibus conducted monthly by
Harris Interactive(R) on behalf of Spherion Corporation. A U.S. sample of 3,188
employed adults, aged 18 years and older, was interviewed in a series of two
polls conducted between August 8-10 and August 15-17, 2006 (for July 2006
n=2,836). Figures for age, sex, race/ethnicity, income, education and region
were weighted where necessary to bring them in line with their actual
proportions in the population. Propensity score weighting adjusted for
respondents' propensity to be online.
With pure probability samples, with 100 percent response
rates, it is possible to calculate the probability that the sampling error (but
not other sources of error) is not greater than some number. With a pure
probability sample of 3,188 U.S. employed adults one could say with a 95 percent
probability that the overall results have a sampling error of +/- two percentage
points. However, that does not take other sources of error into account. This
online survey is not based on a probability sample and therefore no theoretical
sampling error can be calculated.
About Spherion
Spherion Corporation (NYSE:SFN) is a leading recruiting and
staffing company that provides integrated solutions to meet the evolving needs
of companies and job candidates. As an industry pioneer for 60 years, Spherion(R)
has screened and placed millions of individuals in temporary, temp-to-hire and
full-time jobs. Positions range from administrative and light industrial to a
host of professions that include accounting/finance, information technology,
engineering, manufacturing, legal, human resources and sales/marketing.
With approximately 650 offices in the United States and
Canada, Spherion delivers innovative workforce solutions that improve business
performance. Spherion provides its services to more than 8,000 customers, from
Fortune 500 companies to a wide range of small and mid-size organizations.
Employing 375,000 people annually through its network, Spherion is one of North
America's largest employers. To learn more, visit
http://www.spherion.com. For
up-to-date career tips and trends, visit
Spherion's career blog, The Big Time(TM),
at http://www.spherion.com/careerblog.
About Harris Interactive
Harris Interactive is the 12th largest and fastest-growing
market research firm in the world. The company provides research-driven insights
and strategic advice to help its clients make more confident decisions which
lead to measurable and enduring improvements in performance. Harris Interactive
is widely known for The Harris Poll, one of the longest running, independent
opinion polls and for pioneering online market research methods. The company has
built what could conceivably be the world's largest panel of survey respondents,
the Harris Poll Online. Harris Interactive serves clients worldwide through its
United States, Europe and Asia offices, its wholly-owned subsidiary Novatris in
France and through a global network of independent market research firms. The
service bureau, HISB, provides its market research industry clients with
mixed-mode data collection, panel development services as well as syndicated and
tracking research consultation. More information about Harris Interactive may be
obtained at http://www.harrisinteractive.com.
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