Employers in the United States are on the verge of facing a severe and extended shortage of skilled workers. The Bureau of Labor Statistics predicts that there could be 7 to 10 million more jobs than workers by 2010. And, this trend is particularly acute at the middle management level and likely to continue.
Many of the 78 million baby boomers born between 1946 and 1964 have already begun to retire. Statistics suggest that employers will soon find themselves embroiled in talent wars. Those who believe all they need do is place adds in the classifieds, post jobs on the Internet or hire a recruiter are in for a rude awakening. Many firms have already realized they must find ways to fill vacancies from within. However, this may be easier said than done.
A classic mistake many companies make is assuming that top performing individual contributors will make good managers. In reality, according to CornerStone Principal Ken Carnes, author of the best selling leadership book Management Insights, “an estimated 40% of all managers fail within their first 18 months on the job”. Learn More>>>
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