Task:
Previously in the assignment titled "Social and Economic Dynamics Influencing HR Strategy", you focused on factors influencing HR strategies primarily outside the U.S. Now, we add the U.S. to your perspective. Look for the drivers influencing this labor market.
Select one social and one economic factor that could contribute to a skills shortage in the next 10 years in the U.S. Then, given what you have found in your analysis, what options are available to an HR director for a successful company that wants to continue to grow?
For example, during World War Two many immigrants escaping Nazi oppression contributed greatly to science breakthroughs in the U.S. Why? Because the high inflation rate in Germany at the time, along with the anti-Semitic policies of the National Socialist Party fueled this intellectual flight. A smart HR strategist in the U.S. at that time might have recognized Germany as a potential source of talent and lobbied for more flexible immigration policies in order to recruit talent from Germany. They might also have set up a targeted recruiting effort in a well-known university in Hamburg or Berlin.
Briefly describe the factors influencing the U.S. labor market and discuss the options for effectively managing a long-term HR strategy in this market. Validate your economic or social data from the selected links.
China and India Cannot Fill the World's Skills Gap
https://www.ft.com/cms/s/0/5fc88994-fa79-11da-b7ff-0000779e2340.html#axzz1iqB30bdh
Offshoring the Offshorers
https://www.ebscohost.com/uploads/imported/thisTopic-dbTopic-1205.pdf
McKinsey Quarterly
https://www.mckinseyquarterly.com/Business_Technology/Outsourcing_Offshoring