Anyone had trouble making the right hire lately? Instead of complaining about the stagnant labor market, learn how to make the most of it.
We are in the midst of a massive, global labor shortage and it isn’t predicted to end any time soon. Based on current trends in population, education and labor demand, the McKinsey Global Institute projected that by the year 2020, the labor market will be able to supply only 13% of global demand for workers with college or post-graduate education and only 15% of the developing world’s demand for workers with secondary education. We are also in the middle of a slow, faltering, economic recovery intermingled with a host of international economic challenges in Europe and elsewhere.