1980: Continual Changes In The Workforce

The people from the baby boomer generation are all nearing, if not already in, retirement and old age. Over the next 20 years the amount of elderly people of retirement age is supposed to increase somewhere around 50%. Because of this imbalance there will be a lot of money being directed toward taking care of the baby boomer generation which may lead to decreased funding for younger generations. The baby boomers will all retire around the same time, leaving jobs unfilled. There may also be troubles in the housing market as there may not be enough young people to buy all the houses they sell. The number of immigrants in America are increasing and replacing the baby boomers in being the dominating group in our population.

One of the biggest issues that will be affected is Social Security benefits and medical care for everyone. Today twelve percent of the total population is age 65older; by 2080 it will be up to 23%. However at the same time the working-age is shrinking every year, right now the working-age it is 60% and it is believed to drop to 45% by 2080. Social Security is experiencing low work-to-beneficiary ratio which will fall from 3.3 percent in 2005 to two percent in 2040. That is the year that is believed to be when the Social Security trust fund will have been exhausted. Due to this there will be significant challenges that policymakers and all future Americans. Because of that policymakers are now encouraging many to delay retirement and some people are even suggesting that retirement benefits be lowered the main reason for the suggestion is people are living longer than they used to.

Our Workforce Matters is a well-informed and useable guide on Workforce Planning. The guide presents individuals with in-depth knowledge on how to successfully create a workforce plan that is suitable for their organization. The guide provides lists, charts, and bullet points that grabs the reader’s attention and makes it easier to comprehend key points. Organizations can use this guide to ensure that their business needs are met by successfully staffing people.

Amongst reading the material presented in this chapter about the job market trends, I was able to determine that the job market is extremely dynamic and has a great rate of change depending on the company’s needs. These adjustments also affect salaries, if there is a high demand for a position where there is a shortage in qualified candidates the salaries and benefits will be higher. As new technologies grow, the need for employees in these areas do as well, people need to maintain their skills up to date and seek professional growth to be able to keep up with the requirements and challenges of this fast pacing changing job market. However, some of these changes in the job market are being caused by the rapid change in the workforce. Companies are having to adapt some of their philosophy and the way they view employees, because so much has changed in the way the workforce behaves. Let’s examine the

The retirement tack boomers end up taking in coming decades will have a profound, but unknown impact on the economy. As Peterson says, “The forecasts range from impending doom to marketplace godsend.” Some predict that as baby boomers retire unemployment will fall and that this process should begin by the year 2002 and that labor shortages should emerge about 2005. This will continue to get worse as the number of people who retire exceed the number who enter the workforce (Generation).

- The methods that people have been used in the workplace has been constantly changing over time. Change has mainly been driven by the increase in population, advancement in technology, and the amount of information being shared. Each age is a period in human history that has been vastly different from each another age. The current age can be called the change age, due to all the changes that are being made in the workplace.

to the demographic shift and on the other hand there will be more pensioners which will

.Workers’ perspective:there is a demand for diversity and flexibility in their roles and the ability to showcase their unique skill sets.

According to the U.S. Census Bureau the number of people 65 and older will possibly double by the year 2030. According to Yager (2008) forecasts are showing that the United States could reach a labor shortage by 2030. As

Fortunately, it is now possible for organizations to excel at answering workforce-related questions using workforce analytics. We can know whether to bolster training programs, tweak our benefits and compensation plans, or hire into or terminate from key talent pools. We need not turn to across-the-board cost cutting measures and reductions in staff and services. We can sift through far more data and crunch many more numbers to determine who is performing well, who will be needed, where will they be needed, with what skills, and at what cost? We can look at which individuals are achieving their performance goals and see which of them have the competencies needed for today and tomorrow to build a competitive workforce. With breakdowns in place of

Employment is the United States remains a vital factor driving the economy of the nation. Every industry depends on employment to progress and meets set objectives, including the transportation, wholesale and retail, information, government, manufacturing, healthcare, and entertainment and construction sector (Goldman, Corrada & Goldman, 2011). Furthermore, the employment sector has a workforce from different backgrounds with various skills, knowledge and expertise. Every industry can absorb the employees depending on

The case study is about Enterprise Rent a Car, which initiated its business in the year 1957 at USA. The company slowly expanded its business and now they have more than 65000 workforce presented. The company is highly depending upon their workforce and to retain them longer, they use to give them training and development with passage of time. Hence, the company also do workforce planning for fulfilling future needs of the workforce.

The workers in the organization act as a link between the management and the customers. The workers provide services to the customers and undertake most of the activities in the organization. The working staff is thus a crucial asset that determines the organizations ability to excel or fail. Many companies invest heavily in workers to ensure that they have the best staff in the market. Employing a recruitment program that attracts professionals ensures a competitive workforce. An organization can employ fresh graduates and train them to grow in the organization or get seasoned professionals from other competing organizations.

There are major challenges confronting the workforce program managers and executives that are focused on staffing. In this area a common language must be ensured to support hiring practices. The lack of common words and definitions can cause serious communication concerns between program managers and suppliers of benchmarking workforce programs across organizations. In order to help prevent these issues, lexicon suggests a set of “working definitions to be use by program managers (American Staffing Association 2015, para.1).

Accelerated developments and changes in organization’s environment, has led organizations to strive providing customers with products and services they need with best quality; In order to compete in such a competitive, dynamic and always changing environment, organizations has to invest more on their human resources and equip them with needed knowledge and skills.