Perfect Labor Storm 2.0

Why Pay And Benefits Don't Retain Workers

The Saratoga Institute, which compiles exit-interview results, among other staffing information, reports that 88% of employees voluntarily leave their jobs for other reasons, such as misalignment of mutual expectations, person-job mismatch, insufficient coaching and feedback, perception of poor career-advancement prospects, work-life imbalance, and both distrust toward and low confidence in senior leadership. Still, most managers refuse to acknowledge the "push" factors, preferring to see the "pull" factor of more money as the prime motivator.

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2003 - US has lowest birthrate in history

Our society is aging. Between 1870 and 1990, the number of U.S. citizens aged 65 and older grew from 1 million to approximately 32 million. By 2030, the proportion of people over 65 will be 20% of the population. (Source: U.S. Census)

As 38 million baby boomers reached employment age in the 1970s and 1980s, the workplace exploded by 50 percent.  In the decade following 2010, the portion of the population under age 45 - the principal talent pool for managers and workers - will shrink by 6 percent.

Baby boomers have 27 million more people than the one that preceded it and about 10 million more than the one that follows.

In 2003 the United States experienced its lowest recorded birthrate in history.

More about Why Worker Shortages Will Not Go Away

IT Brain Drain

As baby boomers begin retiring in 2008, one in five human-resources executives expects a looming shortage of experienced IT talent, according to a new study by Deloitte Consulting.

The survey of 123 HR executives from several industries including health care, retail, technology, and telecom, showed that up to one-third of respondents expect 11% or more of their overall workforces to begin retiring when baby boomers start turning 62 over the next few years.

Fifteen percent to 20% of the surveyed HR executives expect those retirements to create "critical shortages" in IT talent functions within the next five years.

U.S. workers waste 2 out of 5 workdays

Unclear objectives, lack of team communication and ineffective meetings are among the top time wasters that workers around the world say make them feel unproductive for as much as a third of their workweek on average, according to results of an online Microsoft® Office survey.

According to the survey of nearly 40,000 people in 200 countries, U.S. workers clock an average of 45 hours per week, but consider 16 hours are wasted.

In the U.S, the biggest productivity pitfalls were procrastination -- picked by 42 percent of those polled -- lack of team communication (39 percent), and ineffective meetings (34 percent).

More than a third of the hours down the tubes are those wasted in meetings, said American respondents, who estimated that they spent 5.5 hours in meetings per week, with 71 percent of those workers feeling meetings are unproductive.

35% of New Leaders Failing in Their Jobs

Fact #377: About 35 percent of new managers and executives failed in their jobs within the first 18 months during 2004. (Source: Right Management Consultants)

Fact #378: The top reasons new manager and executives fail is their inability to build strong relationships and teams with subordinates and peers. (Source: Right Management Consultants

Fact #379: The second biggest reasons new managers and executives fail is their inability to accomplish goals, followed by their lack of internal political savvy. (Source: Right Management Consultants)

For more workplace trends and forecasts, visit Perfect Labor Storm.

Facts about Employee Negativity

Perfect Labor Storm facts

Fact #361: Half of all Americans today say they are satisfied with their jobs, down from nearly 60 percent in 1995. But among the 50 percent who say they are content, only 14 percent say they are "very satisfied."  (Source: The Conference Board, 2005)

Fact #362: Job satisfaction has declined across all income brackets in the last nine years. While 55 percent of workers earning more than $50,000 are satisfied with their jobs, only 14 percent claim they are very satisfied. (Source: The Conference Board, 2005)

Fact #363: The largest decline in overall job satisfaction, from 60.9% to 49.2%, occurred among workers 35-44. This is also the worker group next in line for management and leadership positions.  (Source: The Conference Board, 2005)

Fact #364: The second largest decline took place among workers aged 45-54, with the satisfaction level dropping from 57.3% to 47.7%. (Source: The Conference Board, 2005)

Fact #365: With less than 47% of householders claiming to be satisfied with their current job, workers in the Middle Atlantic and Mountain states are the least satisfied workers in the U.S.

(Source: The Conference Board, 2005)

Fact #366: The East South Central region has the most content workers. Close to 59% of residents in these states claim they are satisfied with their jobs. (Source: The Conference Board, 2005)

Fact #367: 40% of workers feel disconnected from their employers.  (Source: TNS)

Fact #368: Two out of every three workers do not identify with or feel motivated to drive their employer's business goals and objectives.  (Source: TNS)

Fact #369:  25% of employees are just 'showing up to collect a paycheck.'  (Source: TNS)

Fact #370:  Less than one-third of all supervisors and managers are perceived to be strong leaders.  (Source: TNS)

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Physician Shortages Predicted - Patient Heal Thyself!

"Take 2 aspirin and call me the morning" was a familiar after-hours doctor-to-patient response years ago.  Soon patients may be wondering whom to call!

The U.S. needs to train 3,000 to 10,000 more physicians a year - up from the current 25,000  - to meet the growing medical needs of an aging, wealthy nation.

It is estimated the U.S. will have a shortage of 85,000 to 2000,000 doctors in 2020.  It also takes 10 years to train a doctor, more for specialists, so we have no time to waste.

How did this happen?  Ten years ago, the government and health care experts underestimated how effective our medical advances were and how much wealth people would accumulate.  As a result, people are living longer and longer more active lives.  Unfortunately many of these aging people are the providers giving the care.  Within the next 10 years, the number of physicians retiring will outstrip the 25,000 new doctors graduating each year.

Another major change is that nearly half of new physicians are women. Studies show they work an average of 25% fewer hours than male counterparts.

The aging physicians also work 15 percent less than younger doctors.

For more information about health care shortages and other changes in our workforce, visit Perfect Labor Storm.

American Life Expectancy Rises

Declines in death rates from major causes such as heart disease and cancer have pushed Americans' life expectancy to a record 77.6 years. Women now have a life expectancy of 80.1 years and men have a life expectancy of 74.8 years. ( Source: National Center of Health Statistics)

For more information about demographics affecting the workplace, visit Perfect Labor Storm.