With no downturn in sight, The Conference Board Leading Economic Index® for the global economy now suggests strong growth of 3.3 percent in 2018. What does this mean for human resources? Even more pressure on departments already struggling with generational labor shortages driven by low population growth and the mass exit of baby boomers from the workforce.
Our recently published Global Labor Market Outlook 2018 identifies key takeaways for HR leaders in this challenging environment. Among them:
- Companies holding back on raising compensation will experience rising turnover and trouble recruiting
- Access to qualified workers needs to play a more central role in location strategies
- As more traditional full-time jobs become available, the supply of workers willing to accept contingent contracts is likely to diminish
HR has a pivotal role to play in guiding the strategic transformation of organizations and meeting the increasingly difficult challenge of recruiting and retaining qualified workers. Follow the links below for more from our latest research—and the excellent Human Capital Watch™ webcast series.