Which jobs are going to be the hardest to fill? Is this going to affect your career? Can you cope with the changes? Here is all that you need to know.
Things don’t look very good for the future job market as we move from employment shortage to worker shortage. Recent research finds that in 2025 labour shortage is likely to affect even the most prosperous industries and professions.
The April 2016 report From Not Enough Jobs to Not Enough Workers published by The Conference Board is the source of this bleak employment news. Gad Levanon, Chief Economist at The Conference Board and co-author of the report, explains that the gap between open jobs and available and qualified workers in mature economies has seriously increased. The study says that “the retirement of baby boomers will create a shortage of skilled workers in mature economies worldwide, leading to higher wages and lower profits for the next 15 years.”
Signs of the labour shortage have already started to show. According to the 8th annual talent shortage survey from Manpower Group, 34 percent of US employers in all industries are experiencing difficulties filling open positions within their organisations. This is happening while unemployment is at 7.5 percent and lots of people are still looking for jobs.
By 2025, businesses are more likely to face low-production rates, limited revenue growth and lower retention rates. This means that some organisations may require policy changes to keep up with the demands. The Conference Board’s report identifies the problematic areas and includes some suggestions for the implementation of new C-suite strategies, looking at demographic shifts, shrinking economic activity in certain areas, offshoring, teleworking and delayed retirement amongst other possible solutions.
Whether this change will affect your career trajectory and industry in any way depends on a number of factors including the profession, location, automation and immigration amongst others. Interestedly enough computer sciences won’t get hit by this turmoil, in contrast to the traditional or most technologically-advanced sectors.
If you want to find out what kind of impact this can have on your career plans, check out this list of the top five professions that will be hardest-to-fill in 2025 in the US, according to The Conference Board.
1. Skilled Trades
The report lists skilled trades at the top of the list with electricians, machinists and power plant operators as the professionals who will be among the hardest hit. The reason for this is quite simple; there is going to be a need for new entrants to replace retiring workers. The only problem with this is that very few young people are choosing careers in skilled trades and full automation of these jobs isn't possible.
What’s rather good news for this industry is that technology will make things better for technicians. Improved machinery and higher quality equipment is going to allow professionals in this field to specialise in the field and gain valuable expertise and knowledge to help them keep up with future needs.
2. Health Care
Health care will be one of the hardest-hit industries. The industry is going to face growing demand as a result of an ageing population. With baby boomers getting older and living longer there is naturally going to be a need for more health care professionals. The report says that this will be particularly evident for occupational and physical therapy aides who are at the highest risk of shortage, followed by health diagnosing and treating professionals.
While the US and Europe are in need of more physicians and nursing personnel, the cost of health care education is usually high, and this is a crucial factor that prevents more people from going into health-related professions. Also, health care jobs may not be as appealing to young people today because they don't pay enough. As a result, there aren’t enough workers in the health care sector to meet demand.
The manufacturing sector isn’t going to get away unscathed either. Engineers are going to be hit hard in the next decade. Despite the numerous rewards, compensation and benefits a career in engineering and other related positions, a very small number of people are interested in a career in manufacturing. But, as more government construction plans are likely to continue to be introduced across the globe, there is going to be a huge demand for these workers and their contribution to making this world a more technologically advanced place to live.
4. Sales Professionals
Sales is a field that isn’t fading away for anytime soon. Quite the contrary, people are always going to be active consumers as they are buying and will continue to buy stuff they need – or don’t need, online. Even though sales jobs require little formal education, most people don’t like this profession, and it’s often found on the list of the most hated professions. Sales is a demanding job because it requires good communication skills and charisma as well as the ability to remain calm whatever the situation. The job market will need sales professionals who have the right motivation and ability to position a product the right way so that it appeals to the public.
5. Math-Related Fields
Maths is a subject that allows students to gain access to a range of career possibilities. But, it is also one of the subjects that people dislike the most. People who choose a STEM career aren’t going to feel the threat of the labour shortage because many professionals are working in the field already including immigrants. However, other math-related fields such as actuaries, statistics and big data are facing major labour shortages. Not enough young people are choosing Math related careers, and more should be encouraged to do so.
If you are interested in any of these five fields, the best way to ensure that you will have a prosperous career is to prepare for employment accordingly. Education is the key to becoming specialised in your field as well as becoming familiar with the different technological tools that are going to be used in the nearer future.
Career wise, your best bet is to go into a profession that has good prospects and plenty of available positions. If you must, complete some specialisations in the field you are interested in and make sure that you choose the right geographical location to work in.
So, what’s your chosen profession? Is it any of these job categories? Let me know in the comments section below…
See Also: Essential Skills for the Future