Shortage of Workers Will Drive the Next Economy

"Training will become the next boom industry as employers are forced to take on the responsibility of educating unskilled workers," writes Challenger. Half of the respondents to a recent National Association of Manufacturers survey reported employee shortcomings in basic math, writing, and comprehension skills.

Challenger predicts that many older workers who choose to retire late in life will be called upon to train teenagers in the workforce. Pairing teens and experienced, over-50 employees will help transfer skills through an extensive mentoring system based on "grandparent/grandchild relationships" at work.

To attract and retain the best workers, companies will need to offer a variety of new perks and benefits. These may include day care services, free financial counseling, on-site fitness centers, massage therapy, and health counseling for smokers who want to quit.

Technologically savvy workers will place "situation wanted" ads on the Internet and other media and wait for companies to call them. Challenger expects the telecommuting trend to continue as more employees work at home and keep flexible hours, making their companies more competitive in the 24-hour global marketplace.

"Technology has shown employers that it does not matter how the employee spends his or her time as long as the job gets done to everyone’s satisfaction," writes Challenger.

But managers in the future could have problems communicating with their far-flung staff of self-directed workers. People who work in isolation from their colleagues may not maintain a sense of belonging to their companies. Challenger argues that managers in the future must become leaders who can keep their workers connected to their bosses and to each other.