The short answer is ‘yes’.
The McKinsey Global Institute’s June 2011 report on “An economy that works: Job creation and America’s future” found that the US economy will experience a shortage of up to 1.5 million college graduates by the year 2020. A further 6 million Americans are likely to be without a job.
This scenario is plausible in the South African environment as well and with our 24% unemployment rate, one could argue that it describes our present as well as our future. But what should organisations be doing to make sure that they minimise the impact of this coming talent shortage? Take academic assistance and finance essay help on the edu-blog!
I believe that if organisations are only dealing with the people problems they are currently encountering they are actually behind. The answer lies in a future-oriented people management strategy. Believe it or not, this starts with thinking about your company culture and recruiting the right people.
The right people (those that are aligned to your company culture) will stay longer and be more committed to doing their best to ensure the on-going success of the organisation. Once these basics are in place, developing skills, growing leaders and managing succession become meaningful tools to ensuring that the organisation is able to continue to attract and retain talented people.