Literature review on workforce analysis and strategy reveal reocurring considerations every employer should have at the back of their mind in developing a workforce strategy for their organizations:
1. Rising age of the workforce- Be aware that the average age of employees will continue to rise with a higher percentage of workers being in their 50s in the approaching decade.
2. Gender- The rising proportion of female workers as technology continues to make it easier for organizations to respond to work life balance for women who want to meet other traditional roles within their families.
3. Increasing Ethnic Diversity- The rising immigration means that the racial and ethnic mix is changing rapidly with numbers of visible minority talent pools accounting for a large portion of the Canadian workforce.
4. Demographic Crunch- The tightening labour market means that there will be increased competition for talent across industry sectors both domestically and globally, and this will continue to intestify as time goes on.
5. Knowledge Transfer Dilemma- As the baby boomers reach retirement age, organizations face a potentially debilitating gap in knowledge and skills. The challenge lies in setting up procedures that can enable organizations conduct knowledge transfer form the Boomers to Gen Xers and Millenials.
6. Shortage of Educated Workers- it is one thing to have access to candidates but finding qualified and educated workers is becoming increasinly challenging and will become more so.
7. Increasing Pressure to Provide and Maintain Employees Training and Development- In the past employees could get away by just recruiting already educated and experienced workers. However due to increasing competition across industrial sectors , there is pressure for employers to train or bear all of or part of the cost for ongoing and continuous personal development, training, further education as part of their best practice and retention strategy.
8. Evolving HR Practices- HR practices will continue to evolve as employers continue to explore more dynamic work practices that appeal to the different generation’s needs and life-style within the workplace. Flexible schedules, tele commuting, etc.
