ERMUSR MISC. ISSUES 01-13-2004 - Laserfiche WebLink

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9 Labor Trends Finding and keeping good workers becomes more challenging he U.S. job market is ,.ng to tighten in 2004 MORE OUTSOURCING to firms doing specific jobs is after several years of job 'osses. Once the coming for accounting, payroll, mailing and delivery, economy is back in full ss ing, businesses are food service and other functions. It's a way to let expected to hire about 150,000 '.corkers per month. businesses stick to their core missions and allows top Longer term, the labor market .k ill become tighter as managers to concentrate on what their companies baby boomers start to retire in large numbers. do best. Outsourcing also involves moving more jobs over- Planning for Demographic Shifts ;was, including software design, data processing, There'll be slower growth _loiiiir force in i.e.in i lot-- tuml, accounting and le_ services in addition just ahead. The number of%V.:7;c_- between ages 25 to service call centers and manufacturing. and 44 will actually shrink. Increases in younger and i MORE TEMPS AND PART-TIMERS older age groups are going are going to be part of the solu- to be modest. And almost tion. They give managers 20% of those who join the greater flexibility in letting pay- workforce from now to 2012 rolls shrink in slack times and will be immigrants, mostly expand quickly when orders Hispanics and Asians. climb. LABOR SHORTAGES are sure Designing Benefits to be a challenge for many Employers will have to recog- businesses. In five years, nize the growing conflict be- workers in the 78-million- tween work and personal life. person baby-boom genera- Finding a balance is one of the tion—those born between biggest issues facing workers 1946 and 1964—will begin today. to retire with retirements peaking in 2015. The 45 mil- TAILOR YOUR BENEFITS to meet lion born into the following the most common concerns of generation won't be enough your workforce. Study the needs to replace them, much less of your employees in general, fill some 22 million white- then design the package that collar jobs expected to be will appeal to the greatest num- . . . . . . .. . created by 2013. ber. Take into account average Industries that can "- age and lifestyle. count on finding it hard to replace experienced workers HEALTH CARE is a basic but in- include health care, phar- creasingly expensive benefit, maceuticals,aerospace, utilities and many old-line particularly for small businesses. Good workers manufacturing firms. Plus those employing computer won't stay with employers that don't offer some software engineers, preschool and elementary school medical coverage. Successful firms have to provide teachers and supervisors in management, sales and fi- coverage, even if it means shifting more of the cost nancial services. to their employees in the form of higher deductibles and copayments. Companies that offer coverage Meeting Labor Needs that's least burdensome to workers have a leg up Look for changes in how companies meet their em- on the competition in luring and keeping good ployment requirements. employees. WHAT'S AHEAD FOR 2004 I 19