Report: U.S. Skills Shortage coming from Aging Workforce and Lack of Corporate Development

A report issued by Taleo Corporation on the 2011 business climate and related talent management trends for 2012 finds that talent decisions are taking on increased importance as companies fail to effectively manage the flow of critical talent are risking their growth and in some cases even their survival. Among other things, "U.S. Talent Treands for 2012" finds that an aging population and a lack of investment in training and development will result in continuing skills shortages.

Taleo anticipates increased friction between businesses' global ambitions for expansion and varying quality and quantity of local labor. In the US, labor participation rates among younger workers continue to fall while rates among older workers rise. In the short-term, this skews the balance of the workforce toward more experienced, more expert workers. In the mid to long-term, this lack of investment and hiring of younger workers is going to exacerbate talent shortages related to boomer retirements. Smart companies are looking to rebalance their mix of new hires to focus more on emerging and potential talent.

Source: Taleo Corp. Press Release (January 30, 2012)