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We’re unpacking the forces driving HR and business action over the next half-decade. We’re putting these forces in historical context, while also providing HR leaders with actionable advice on how to assess their risk, prepare their teams, and better understand the ramifications of inaction.
The notion of a widespread talent shortage might seem counterintuitive, given the prevailing concerns about AI coming for human jobs.
How can there be talent shortages in industries where technology is threatening our very livelihoods (or so we’ve been told)?
The reality is talent shortages are nagging many industries, from tech to transportation, and not because the workforce is simply shrinking. Labor participation rates have stayed relatively flat over the past half-decade, yet some prognostications estimate that by 2030, the global talent shortage could equate to around $85 trillion in lost revenue.
As an HR leader, it’s imperative you understand the factors driving the shortage, its potential long-term effects, and your level of vulnerability as a company.
That means:
Understanding the current landscape Assessing and addressing your risk exposure Ensuring a positive brand experience with candidates Recognizing the implications of inaction
Let’s dive into each step in more detail.
Understanding the current landscape
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