Due to approaching baby boomer retirements, the information technology workforce in places like the United States and Europe is expected to shrink dramatically—in fact, IT jobs could outnumber qualified professionals as early as the end of the decade. This might not come as a shock to those who have been reading Bureau of Labor Statistics predictions and other industry forecasts. However, some observers believe this trend will affect countries all over the world, and that it’s already starting to play out in some very unexpected places.
“As workforce growth rates slow in the U.S., Europe, Japan and Australia, skill shortages are going to begin to mount,” said Brian Kramer, program director for IBM Learning Solutions. “These skill shortages are likely to be particularly acute in the IT industry, because developed, post-industrial nations do not graduate many IT engineers. It’s amazing how that has shifted.
“All nations are experiencing a fluctuation in skilled people,” he added. “That’s where the multi-generational aspect is so important. The implications of the multi-generational economy are very significant and felt in countries around the world. For example, it’s a little-known fact that India is now quickly running out of skilled people to meet the demand that they have. India is having to outsource their work to other countries in order to get things done. In Singapore, it’s a significant challenge as their economy shifts from manufacturing to service. Most of their people in manufacturing are in their mid- to late-40s. How can they take…
Please log in or subscribe to read this article