U.S. labor costs rose at the slowest pace in at least three decades in the spring, a sign of persistently sluggish wage growth that could weigh on the Federal Reserve’s decision to raise short-term interest rates.
Some law schools have been paying to place graduates in positions, giving them a boost in a national ranking. But the American Bar Association is tightening the rules on how such positions are counted.
More student lenders are for the first time offering to refinance the loans of professionals who are years out of college, promising low rates in return for the prospect of lucrative new customers.
Google is quietly distributing a new version of its Glass wearable computer aimed at businesses in industries such as health care, manufacturing and energy, according to people familiar with the situation.
Selling bottled water on New York City streets promises high margins, but it’s a seasonal sort of business.
Republic Airways said a worsening pilot shortage is forcing it to cut its flying for big U.S. airlines, hurting the regional carrier’s profit and sending its stock plummeting by half.
Companies treasure their high-potential employees, but those rising stars may be looking elsewhere.
As the competition for critical talent in the U.S. intensifies, organizations must better understand the supply and demand for critical workforce segments. Companies must begin to identify the skills in their organization that will help drive future growth. "With the relative aging of the population, it is bound to bring with it many changes to the economy of the U.S.-some foreseeable, many probably not," according to Alan Greenspan, Chairman of the Federal Reserve emeritus.
Today, the average cost to replace an employee is one and a half times their current salary when you factor in benefits, on-boarding and training and development. That cost is expected to double in the next 25 years. According to the Bureau of Labor Statistics, by 2012 there will not be enough skilled workers in the U.S. to staff all of the nation's jobs.
The real talent gap in the United States involves selected skill sets. Four industries in particular will suffer a mass exodus of employees including: Healthcare, Manufacturing, Energy and the Public Sector. With a decrease in the employee workforce, companies are challenged with the question of whether or not there will be enough qualified workers in the United States to do the work at an acceptable cost. Organizations must be prepared to manage divisions or business units that will be heavily impacted by waves of retirement and the impact retirement will have on critical skill sets and productivity needs.
- The Bureau of Labor Statistics
- Deloitte research 2008-Do you know where your talent is?
- HR Magazine Vol. 50, No. 3