The Changing World of Work
In Chief Executive, Owen Sullivan explores the changing world of work and its implications for leaders. An excerpt:
Since 1990, the global labor market has doubled. By 2050, the world population will be over 9 billion. But in spite of this, employers face an HR paradox: How to find the right people at the right time in the right place – and fill the gap in the midst of plenty?
The implications of this are that older workers will be more prevalent and we will need to find ways to keep them engaged in the workforce longer. There will be an increase in multi-generational workforces and managers will need to learn how to navigate the nuances of each generation.
[Execupundit note: Prior to the recent economic downturn, one of the challenges was the middle manager glut; i.e. the large number of highly skilled middle managers who were "all dressed up with no place to go." Due to layoffs, that pressure may have been eased but organizations still face the question of how to retain extraordinary people when there are fewer opportunities for advancement. Special assignments, training options, and flexible schedules may help but customization will be crucial.]