Learn more about Career Readiness at the Oklahoma Ready to Work Conference and Expo on October 26th. Click here for registration details.
Career Readiness and Talent Shortage
Our workforce is not prepared to succeed at work, and it’s time business leaders, HR professionals, and the community to do something about it. While college graduation numbers are on the rise, there is a knowledge shortage that is looming. Employees of all backgrounds, education, and skill levels are not prepared or trained to fill the necessary job openings we have available today. This idea of career readiness is a tricky one as it touches all levels of workers within the organization. A 2012 study by Woods Bagot surveyed elite business decision makers to find out why our workforce isn’t career ready.
- 60 percent of all respondents say that less than half of graduates have the skills they need to succeed
- 70 percent of C-suite executives say that less than half of graduates have the skills they need to succeed
- Only 1/4 of graduates have the skills they need to succeed
Impending Skilled Labor Shortage
But not all workers are college educated. There is an increasing demand for the skilled worker with a smaller talent pool to choose from. If we as business leaders can’t rely on traditional means to train, develop, and shape our workforces, what is left? The responsibility lies with the employer. Unemployment numbers are dropping and reaching pre-recession levels. Hiring, retaining, and recruiting is becoming increasingly competitive. In August, unemployed numbers for the nation were 8.1% while in Oklahoma we were 3 percentage points lower at 5.1%.
While unemployment numbers are dropping, the real concern is the skilled labor shortages for positions like manufacturing, welders, and machinery. A reported shortage of nearly 1 million skilled workers is expected by the end of the decade. This is a huge concern for employers especially when you consider the average skilled worker is 56 years old. Retirement for our skilled workforce is just a stone’s throw away. Are you ready?
Workforce Development and Planning Solutions
The solution to career readiness for the educated and skilled workforce lies with workforce planning, training, and development of our current and future employees. Only then can our organization truly flourish as the job market tightens for small yet very specific positions, segments, and verticals. Career readiness starts with you.
Learn more about Career Readiness at the Oklahoma Ready to Work Conference and Expo on October 26th from 8:00 AM- 4:00 PM. Click here registration details. Attendees will receive 4 strategic and 2 general HRCI recertification credits.