Job Security

Merrainiacs:

Over the last year, the total number of unemployed workers in the United States fell from 15.2 million to 14.5 million. Before the recession, there were around 7 million workers unemployed. If job creation were to continue at the same pace, it would take more than ten years to return unemployment to pre-recession levels. Thankfully, nothing ever stays the same.

According to government estimates, there will be a shortage of 14 million college-educated workers over the next decade. At last count, just over 2 million of the unemployed in the U.S. held Bachelor's degrees or higher and an additional 3 million had a level of college education short of a four-year degree.

The recession provided employers the opportunity to increase automation and streamline processes allowing productivity to rise nearly 9 percent at the beginning of 2009 in the depths of the recession. Many hospitals that had a receptionist switched to automated phone systems. Medical centers that used to outsource graphics and design work learned to do some of these things in-house. Laboratories invested in more automated machinery, requiring less human interaction.

In the last 12 months, the number of job openings, as reported by the Labor Department, increased by over 30 percent. During the same period, hiring activity only increased 1.2 percent. In our industry, the shortage of talent never seems to end. As more hospitals and medical centers open and requirements become more stringent (think Physical Therapists), shortages only seem to become more dire. For example, by the year 2020 the American Physical Therapy Association (APTA), which provides accreditation and monitoring of physical therapy programs, believes that Physical therapy treatment will be provided only by board certified practitioners with a doctorate degree.

Perhaps this is where executive search firms come into play. Demand for our services seems to be increasing and the three month period ending February 28, 2011 is on track to be one of our best ever. So I'd like to think I've got a little job security as we do our part to ensure our clients hire and retain the very best talent in the industry.

Merrainiac