{"id":806,"date":"2015-01-02T11:37:57","date_gmt":"2015-01-02T11:37:57","guid":{"rendered":"http:\/\/dev-mhisolutionsmag.officialdirectory.com\/?p=806"},"modified":"2015-03-17T16:49:59","modified_gmt":"2015-03-17T16:49:59","slug":"prepare-for-the-crisis-ahead-by-managing-your-talent-supply-chain","status":"publish","type":"post","link":"https:\/\/www.mhisolutionsmag.com\/index.php\/2015\/01\/02\/prepare-for-the-crisis-ahead-by-managing-your-talent-supply-chain\/","title":{"rendered":"Prepare for the Crisis Ahead by Managing Your Talent Supply Chain"},"content":{"rendered":"

\"iStock_000016148552_Full\"<\/a><\/p>\n

If the experts are right, in a few years we\u2019ll look back at 2014 as \u201cthe good ole\u2019 days for recruiting.\u201d Over the next few years we are expecting the U.S. workforce to shrink dramatically. It is really a perfect storm\u202660 million Baby Boomers are retiring, with only 40 million new workers coming in to the workforce. And the participation rate of the younger generations\u2014especially those in their teens and 20s\u2014is at an all-time low. In other words, there will be fewer people available to work, and a smaller percentage of them will choose to work. The most likely result for our economy will be an increase in labor costs, and faster job switching by employees.<\/p>\n

Meanwhile, there is significant job growth in virtually all supply chain careers. Companies are recognizing the need for professionals with cross functional expertise, and the economy is improving, which means there are more and more openings for qualified supply chain managers and supply chain engineers. The re-shoring trend and the demand for shorter delivery times are driving the construction of new distribution centers, and new jobs for associates and the technicians who install and operate supply chain equipment.<\/p>\n

The shrinking supply of labor, coupled with an increasing demand, suggests a serious labor crisis ahead. How bad is it really? The 2015 Third-Party Logistics Study estimated that in the next few years there will be six open positions for every qualified supply chain professional in the workforce!<\/p>\n

While the talent shortage will be felt throughout all segments of the economy, the effects appear to be even more concentrated in the supply chain because of the growth we are experiencing. Some of the things we need to do to mitigate this crisis can only be done at an industry level, but there are also actions we can take within our own firms to reduce the pain.<\/p>\n

By Daniel Stanton, MHI VP, Education and Professional Development<\/p>\n

Click here to read the full\u00a0article.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

If the experts are right, in a few years we\u2019ll look back at 2014 as \u201cthe good ole\u2019 days for recruiting.\u201d Over the next few years we are expecting the U.S. workforce to shrink dramatically. It is really a perfect storm\u202660 million Baby Boomers are retiring, with only 40 million new workers coming in to …<\/p>\n","protected":false},"author":40,"featured_media":783,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education"],"yoast_head":"\nPrepare for the Crisis Ahead by Managing Your Talent Supply Chain - MHI Solutions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mhisolutionsmag.com\/index.php\/2015\/01\/02\/prepare-for-the-crisis-ahead-by-managing-your-talent-supply-chain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prepare for the Crisis Ahead by Managing Your Talent Supply Chain - MHI Solutions\" \/>\n<meta property=\"og:description\" content=\"If the experts are right, in a few years we\u2019ll look back at 2014 as \u201cthe good ole\u2019 days for recruiting.\u201d Over the next few years we are expecting the U.S. workforce to shrink dramatically. 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