When I start a conversation with a client company about helping them recruit, retain and develop their employees, the first thing that I must do is to scare them. Why? Well, let’s face it, hiring has been pretty easy over the past 40 years. Due to the demographics of the United States, there have always been more people looking for jobs than there were jobs available in the economy. If one applicant turned down the job offer, there were plenty of eager souls waiting for that same opportunity. Well, I hope you enjoyed that. The math says that we are some number between 6.5 and 8 million people short in the available workforce for the next decade. Let’s do math:

For the past 40 years or so, the three generations that made up the workforce in the U.S. totaled about 219 million people. (Baby Boomers, 75 million; Gen X, 68 million; and Millennials, 76 million). The Baby boomer generation is roughly 80% out of the workforce already and is estimated to be 90+% out of the workforce in just over 2 years (the year the youngest Boomer reaches 62 years old.)

The generation replacing those 75 million people only has 67 million people in it (Gen Z). That means we are quickly on our way to being some 8 million people short in the available workforce. Let’s make that real for you. If distributed equally between all 50 states (it’s not) that means each state would be 160,000 people short. If your state has 100 counties in it that would mean your county would be 1,600 people short.

The shortage is real and is a mathematical certainty. There are not enough people to fill all the open jobs in the country. The time to get out in front of this is now.

If you are looking for insight or specific action steps to grow a process within your organization to Win the War for Talent, please reach out. It’s my passion to help companies solve their talent issues, whether that is finding the right talent or retaining and developing that talent. With the right processes in place, your organization can grow and thrive even more!

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