Professor Reich talked bout the future of the workforce in America and the challenges recruiters will face in light of an ever-shrinking labor pool. That s great for wages and for purchasing power. Human Resources people are more important than Chief Financial Officers. Pay, compensation and benefits will be more variable because of volatile business environments. Companies will have to move risk onto their biggest expense their employees.
Today there is only a fast track and a slow track for employees.
Management must recognize that people are whole people who have commitments to family, community and themselves. The pressure on companies to reduce the costs of commodity, routine work is growing. However, if you are an innovator, a problem-solver, able to see possibilities in technology, able to see potential in the market in terms of what people might want, might need you are in greater and greater demand. The slowdown we re going through is clearly temporary. The world is poised for a lot of growth and a very economically healthy 20 years.