The Global Workforce Crisis of 2030
Relocation and appreciation-relationship culture change job landscape
We're running into a global workforce crisis come 2030 with an overall labor shortage and a huge skill mismatch and big cultural challenge, says human resources expert Rainer Strack in his TED Talk.
Strack says that "high-skilled people, talents, will be the big thing in the next decade," however, they're a scarce resource and businesses have to work to understand them better.
"And this global workforce crisis is approaching very fast. Right now, we are just at the turning point," he said. Strack suggests that countries ought to look across borders to attract mobile and willing job seekers, but to do that, they'll need to change their business culture.
After conducting a global survey among more than 200,000 job seekers from 189 countries, Strack found that 60 percent of job seekers are willing to work abroad and the number is even higher for Millennials. U.S. job seekers were least likely to move but France, Switzerland, Germany, Canada and U.K. job seekers have their sights set on the U.S. as their top choice worldwide for relocation.
The survey shows that the top four preferences (in order) of job seekers are around culture:
- Being appreciated for your work
- Having a great relationship with colleagues
- Enjoying a great work-life balance
- Having a great relationship with the boss
Salary ranked eighth in importance.
"Our global workforce crisis becomes very personal. People are looking for recognition," said Strack. He says that companies will need a people strategy, consisting of four parts, and that they'll need to act on it immediately in order to attract mobile job seekers.
- Plan for how to forecast supply and demand for different jobs and skills. Workforce planning will become more important than financial planning.
- Plan for how to attract great people: generation Y, women, but also retirees.
- Plan for how to educate and upskill them.
- Plan for how to retain the best people with an appreciation and relationship culture.
"However, one crucial underlying factor is to change our attitudes. Employees are resources, are assets, not costs, not head counts, not machines, not even the Germans," said Strack.
Rainer Strack is a Senior Partner and Managing Director at the Boston Consulting Group, where he is the global leader of the HR topic.
Photo and video courtesy of TED
Monster Wants to Know: What are your top preferences when it comes to choosing a job? Do you look for a people strategy over salary? Does your company have a people strategy and was it a selling point for you? Share with us in the comment section.