Data Dome, Inc. http://www.datadome.com   

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Volume 4, Issue 1 2005    
Talent Shortage

We do not have workers with enough training or skills to replace experienced retiring workers. The shortage of available skilled workers is likely to exceed 10 million by 2010.

One-fifth of this country's large established companies will be losing 40% or more of their top-level talent in the next five years. The replacement pool of 35-44 year-olds will decline by 15% during the same period.

Within the next 10 years, 18 million jobs will require individuals with baccalaureate degrees. At current graduation levels, the Employment Policy Foundation predicts a shortfall of 6 million.

Job growth in these occupations is projected to increase 42% by 2010.

In 1950, over 60% of all manufacturing jobs required unskilled labor. Today less than 15% of all manufacturing jobs are unskilled.

In 1973, blue-collar workers represented over 60% of the workforce. Very shortly, just 10% of the workforce will be blue-collar.

The Hudson Institute estimates that by 2006, only 20% of our workers will have the skills to do 60% of the jobs.



DOH!

USA Today conducted a survey of top executives in which 82% admitted to cheating at golf.

73% believe behavior on the golf course is a good indicator of business behavior.

99% of the executives considered themselves honest in business.


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Top Demand

How to Get the Bad News
You Need to Know

At this seminar you will learn

  • why the best information will not be shared on-line
  • the reason most of your work force is hesitant to share its ideas
  • how to take your company's pulse and interpret the results
  • what action to take to impact your company long term
  • how much better your company can be run with just a few changes
  • what to do today to ensure retention of key people
  • how to conduct a simple customer survey and increase the sales and profitably of the company
  • methods that will inspire and motivate your workforce

Call us at 404-814-0739

Employment Trends

A trend is nothing more than a direction of movement, a general tendency based on a demonstrated inclination to think, act or behave in a certain way. To speculate upon future trends, we have to look at what has been demonstrated so far, and project from statistics we already have. In this way, executives and industry leaders of all kinds are better prepared for the needs of the present and future. This month we offer some visioning tools for understanding present turnover and predicting future needs.

3 out of every 4 Fortune 5000 companies listed in 1970 are no longer on the list. 1 out of 3 firms who went public since 1988 are now out of business. One fact is glaringly clear in this regard: high-performing companies have nearly half the turnover as low-performing companies.

What can you do to put your company into high performance mode? First, you have to hire top people, then you have to find or create the best work environments and positions for key people. Finally, you have to retain that talent. It sounds very simple, and yet many companies miss out on the most effective strategies for accomplishing all three.


Hire Right, Match Right

Employers will soon be facing the most serious shortage of skilled workers in our history. Few are prepared to fill the vacancies. According to the Bureau of Labor Statistics, more than 25% of the working population will reach retirement age by 2010. Nearly all of the 24 million people who stop working in this decade will be experienced employees heading into retirement. By 2012, the US Bureau of Labor Statistics says that nearly 50% of the current workforce will become eligible for retirement.

Of 57,000 managers surveyed in 35 countries, 90 percent list hiring as among their most important decisions. At the same time, however, the search for the right candidates is being complicated by many factors. First is the administrative nightmare of an increased percentage of people looking for a position. Nearly 1 in 5 American workers has been laid off from a full or part-time job since 2000, and there are more workers who are always looking for a new job regardless of their current job position. In addition, inaccuracies and outright lies are on the increase - as many as 44% skilled worker and up to 23% of executive resumes contain at least some lies.

The Michigan State University School of Business study showed that assessments are the most accurate means of predicting the performance of an individual. Assessments were rated four times more accurate than interviews. If you accurately assess a person's soft skills, the payoff is enormous. You've not only landed a productive employee but freed the employee’s manager to do constructive, rather than remedial, coaching.

We will help you to determine which personnel evaluation tools best suit your particular needs. More than 500 such products are available in the marketplace, but we constantly evaluate both the construction and application of new and upgraded assessment tools, recommending only the most advanced assessment tools based on a specific needs match. We are not tied to any one manufacturer or single line of tools, but have the freedom to evaluate each instrument on its own merits. Reports are computer-generated narratives that assist in both evaluating new hires and determining hidden talents in existing employees. Many or the profiles are now avalibale in online versions. These narrative reports are easily understandable by individuals without prior training. We offer a wide array of computerized profiling, assessment, screening and surveying tools, as well as speaking engagements and seminars. Call us at 404-814-0739 or email service@datadome.com.

Retain Right

Studies have shown that the single leading cause for turnover - up to a striking 85% in American corporations, and from fast food service through the Fortune 500 - is behavioral incompatibility. Behavioral incompatibility means the inability of workers, co-workers, management and co-management to understand and overcome differences in their behavioral styles. Behavioral styles have to do with ways of communicating, expressing themselves, working together or alone, understanding what work environment is truly effective for them, and how to balance and adjust for these considerations.

Did you know that by taking a look at differences between the behavioral work style and home style you will be able to predict very specific problems that might lead an employee to seek another job? Most people adjust their style at work based on perceptions of what is needed for them to survive and thrive. We have found that many employees cause themselves unneccesary stress simply because they misunderstood what was really needed to succeed in their position. Depending on the job and the area of adjustment, the person's natural style might actually be an asset! Then, there are cases where the personality for success in the job itself is incompatible with the style of the person. For instance, a person who really prefers a steady work pace and concentrates best on one thing at a time will feel overwhelmed in a multi-taking, fast-paced position, and a person who likes to tackle many creative projects at once will be unhappy in a job that requires careful attention to detailed and unvarying procedures. Oftentimes, a simple adjustment in the work environment or job description will re-engage your key talent at a much higher level.

86% of workers are experiencing job stress, and half of them describe their stress as "extreme fatigue" or "feeling out of control." Stressful work relationships and job demands in turn contribute to other problems such as burnout, errors on the job, emotional and physical distortions of perception, and safety problems and accidents. Ultimately, this results in lowered productivity and increased turnover.

Job-related stress directly contributes to absenteeism and presenteeism. The number of employees calling in sick from stress-related factors has tripled since 1996. Companies spent 15% of payroll on absenteeism in 2002. For an employer with 5,000 employees and an average base pay of $40,000, this adds up to $30 million annually. Presenteeism - the phenomenon of employees who show up to work but for a variety of reasons are not producing as they should - accounts for 80% of lost productivity, according to American Productivity Audit. The U.S. Employee Engagement Index claims that 17% of employees are actively disengaged from their job. They don't see the link between their performance and company profitability. Actively disengaged workers are costing US businesses $300 billion a year in productivity losses. These workers are not just unhappy but actively undermine what their engaged co-workers accomplish. 54% of workers are "not engaged" - going on autopilot - and only 29% are truly engaged.

If you want to know how your company stacks up, consider a Cultural Vitality Survey. The overall cultural vitality of the company is not only a predictor of turnover, but also a means of confronting and overcoming its causes. Quite often anyone who is in management, in any setting, senses that things are not running well. It is easy to sit back and do nothing, pretending that everything is okay, or to think, "If I do nothing, things will work out." This is a dangerous and sometimes fatal mistake for the well-being of a company. You can revitalize and excite a workforce with a simple survey that gives them a forum to share their ideas about what you could do better (much better) and what needs to change. Surveying is the only way to know what's happening individually, overall, and over time. You can't know if you're winning or losing if you're not keeping track.

The Cultural Vitality Survey will give you a current snapshot of your company's vitality, giving you feedback regarding perceived job attractiveness, vitality trends and current vitality, dealings with external customers and investors, productivity, teams and other workgroups, and vital behaviors. Trend reports can follow the resulting feedback over time. This is sometimes viewed as "BAD News," but it is vital information if you are interested in keeping your key people and improving results. The real questions you have to ask yourself are do you really want to hear the bad news and are you ready to do something about it? This can be an eye-opening experience that will change the course and success of your company forever.

Spotlight on Assess Expert System

Assess Assess Expert System is a powerful psychological evaluation tool that will turn the odds in your favor. A state of the art Windows- or Internet-based expert system, it produces work-related assessment reports to assist in the selection of outside candidates and in the promotion, placement or development of internal managers, supervisors and professionals. This information aids in the proactive placement of the right people in the right environment - a win-win situation.

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