New Year, New HR Crisis?
With the stock markets hitting record highs and the unemployment rate seeing its lowest rate in seventeen years, the future may seem bright. However, with this uptrend comes a new set of problems. The "gap" that has been debated in previous years is beginning to turn into a crisis. Couple that with the rapid rate of baby boomers retiring and you've got yourself the biggest HR problem of 2018:  

Talent Shortage

CEOs Around the Globe's Biggest Fear for 2018: the Talent Shortage

Global CEOs polled by the Conference Board, a New York-based researcher, ranked a global recession as their 19th concern out of 28 choices, down from being the top worry a year earlier. Failure to attract and retain talent was their number one concern.

The Supply Chain Industry and it's Talent Shortage Problem

For every graduate with supply chain skills there are six holes to be filled, and it could be as high as nine to one in the future," warns Jake Barr, CEO of BlueWorld Supply Chain Consulting.

Some studies assert that 25 to 33 percent of the current supply chain workforce is at or beyond retirement age, and the backfill pipeline is inadequate to satisfy replenishment demand.
For Over a Decade, the Tech Industry has Seen a Persistent Talent Shortage

While employers are hiring all over the world, job seekers with software skills are mainly interested in a select number of tech hubs. Employers will need to craft creative strategies to attract job seekers to the cities where they're needed while also offering greater flexibility and opportunity for this set of in-demand talent. As software itself becomes more capable, we can expect new job titles and skills to emerge. Finding holistic solutions to today's skills gap will help employers overcome future challenges in tech hiring as well.

A.I. is How You Can Prosper Despite the Global IT Talent Shortage

Banks are feeling it. Builders are falling behind because of it. Manufacturers can't get enough as a result of it. And in the information technology (IT) world, it is making employers  desperate.
"It" is the skilled worker shortage, which is now affecting almost all industries, from the highest of high-tech to the basic blue collar, to jobs in industry and agriculture, but especially IT.  Experts agree: There have never been more available jobs in the industry, and never has it been more difficult to find skilled workers to fill those positions.

How to Combat the Talent Shortage in your Industry:
To Combat the Talent Shortage, Employers may Need to Shift Productivity Measures

To approach this new talent paradigm, employers will need to overcome their fear of change and move beyond traditional workforce sources. Employees with disabilities, older employees and employees that require more flexibility around their commitments at home all may be able to offer something to a company in need of talent -  if that company is willing to work with them.

To truly overcome the talent shortage, employers may need to reconsider their hiring systems as well as how work is done if they want to find success.

How HR Professionals Can Prepare for a Talent Shortage 

Talent shortages will become an integral part of life for many HR professionals and it is crucial that they are aware of it. Staying on top of things will become a bigger challenge than ever before and it will demand more from them.

Dave Baker's Take on the Issue: 

"That said there is one major crisis that has already started to take root.  And it isn't just here, it's across the U.S.  There is a major talent shortage in this country!  Those of us who've been watching the demographic trends and forecasts of the effect of Baby Boomers leaving the market are finally seeing the impact.  In a booming economy, and this is as robust as it gets, there is an unbelievable demand for talent.  And it's going to get worse.  For decades you could always count on some sort of an economic downturn to level set the supply and demand.  But only a few companies prepared for where we are and what is ahead."