The conversations overheard at Chief Executive Group events this year undoubtedly echo conversations you’re having with your board, your CHRO and the heads of every division in your organization: how to deal with the skills gap that has made it difficult for companies to fill available jobs, increase productivity, navigate change and fuel the disruptive activity that is essential for survival in this economy.
In an effort to get to the bottom of this question, a centrist think tank called Third Way released a study that combined five measures (job fill rate, wage gains, education and credential attainment, employer surveys and state analyses of labor supply and demand) in order to smooth out prejudices or data inadequacies inherent in specific statistics.
Although Third Way’s research indicated a nationwide, cross-industry skills gap, they found some critical variations by industry, state and cause. For example: Technology jobs, across various skill levels, are going unfilled due to a lack of qualified candidates.
The U.S. Department of Labor noted that this problem was particularly evident for companies seeking “computer user support specialists” in Missouri and California and for those looking for software developers and computer programmers in New York and Washington, D.C.
Financial services, Third Way warns, is on the verge of a worker shortage, although wages have been rising to lure skilled workers to available jobs. Underlying this potential shortage, Third Way suggests, is the age of the workforce: with millennials flocking to other industries, there are fewer employees to replace retiring baby boomers.
Baby boomer retirement will also contribute to worker shortages in manufacturing and construction. Even though manufacturing wages are solid, Third Way notes that an increase in college attendance has made manufacturing training programs less attractive. And this, they suggest, is likely to lead to the loss of U.S.-based manufacturing jobs “as companies relocate to countries with a larger supply of qualified workers.
SKILLS GLOSSARY
SKILLS GAP: training or education not sufficient
SKILLS SHORTAGE: training adequate, too few people being trained
SKILLS MISMATCH: supply and demand are out of sync
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
