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The Bold Faced Blog™

June 18, 2013

The Changing Face of the Workforce

Posted 4 years 155 days ago by Sheila Ellian Lewis

According to the latest population predictions from the Census Bureau, minorities will become the majority in the workforce by 2038. In addition, the population as a whole will grow more slowly. These changes will have a dramatic effect on the workforce as we know it today.   Senior leadership and direct managers must immediately begin thinking strategically about managing the impact this will make on day to day business management.

In a recent article for TalentManagement magazine, Brookings Institute demographer, William Frey considered the implications. He insists that it’s vital to focus on the younger generation who will be entering the workforce as these changes play out. “The only way we’re gaining population for the younger part of our age structure is because of minorities,” he says.

Pay attention to the youth

Chief among Frey’s concerns is ensuring that young people, particularly minority youth, have adequate education and training to take their place in the workforce.

“It’s important we pay attention to these kids,” Frey says. “Especially the second generation of immigrants, whose parents may not have had the kind of education and background that would put them in the middle class.”

Various strategies have been proposed to make this crucial investment in the future of the workforce, from improving public schools to partnerships on technical training. However, ensuring adequate focus and attention on these issues at a national level is challenging and, with the younger part of the population growing much more slowly than the older part, we’re potentially looking at critical talent shortages.

How are you preparing?

We’ll be taking a look at the issues raised by demographers and considering how companies can be thinking now about their future workforce in the next issue of our BoldAssertionsTM newsletter, but we’d love to start the conversation now. Let us know what your business is doing to position itself to train, attract or supplement the changing workforce.

Tags: demographics diversity workforce

Categories: categoryEmployment Trends

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