Essay on The Changing Work Force

1533 Words 7 Pages
How the Workforce is Changing
As the world experiences rapid changes in diverse fields, the workforce is consequently experiencing changes as it tries to comply with these changes. In an organisation setting, change is inevitable despite how trivial that change might appear. Recent technological developments and advancements have led to the workforce to adapt to the changing trends. Inevitably, employers are also faced with the daunting task of identifying these changes and fashioning coping strategies to ensure optimization of their workforce.
Traditionally, companies required fewer numbers of employees with specific technical skills as compared to today’s industry. In line with this, the number of employees with specific technical
…show more content…
This evaluation has been done for the past decade spanning from year 2002 through 2012. While the demand for high education level qualification is increasing, the number of entry level jobs is dwindling.
Companies are finding it less economical to take up inexperienced fresh graduates and train them because the time and resources required for such exercises is exorbitant. This is becoming a challenge because of the higher propensity of rival companies poaching such trained personnel by offering these individuals lucrative salary packages at the expense of the training company. The poaching trend especially in the technological field is alarming with technology giants fighting to woo the most experienced employees into their dockets.
Another notable change in the workforce is that the number of aging population is increasing (Spinks 2007, 27). Given that recent staffing trends are showing an increase in the number of employees, it is apparent that the number of aging employee population will continue to increase. Statistics indicate that from 2010, the number of aged employees (between ages 55 and 64) has surpassed that of young workers (between ages 20 and 29). This means that the demand for specialized treatment for aging employee population will continue to increase. Companies will have to set aside more funds to cater for these needs. This includes an increase in healthcare insurance cover premiums (McShane, Olekalns, and Trayaglione

Related Documents