One of the major concerns of today’s companies is the shortage of labor, especially in management. The baby boomers are nearing retirement age in the United States and the birth rate is dropping. These circumstances, coupled with the booming economy are the main causes of the labor shortage. There is a high demand for labor but the once seemingly bottomless pool of employees and managers that companies drew from has started to dry up. What are the factors that contributed to the problem and how are today’s corporations going to handle this problem? The type of labor needed in today’s society has been undergoing a constant change. There is an increase in demand for workers but there is a much greater demand for educated white-collar workers, especially management material. Projections state that the growth in managerial positions will increase 20% by the year 2010 yet the population aged 35-50 will decrease nearly 10%. What these figures say is the already diminishing supply of executives is going to dwindle even more over the next 10 years. There is a shortage of blue-collar workers now and there will also be an even greater shortage of them in the future. In order for employers to find people who are willing to perform unskilled, repetitive jobs they are going to have to be willing to raise the level of compensation offered to employees. If McDonalds needs someone to flip hamburgers they better be prepared to pay double to triple minimum wage. There are a wide variety of employment opportunities and today’s workforce can afford to be selective when choosing a job. The demand for employees is high while the supply is low. The figures on the change in average population ages and growth in industrialized nations is beginning to make the corporate world stand up and take notice. If the trends continue as they have been for the past thirty years, the shortage of labor is going to continually get worse with each …
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