Labor Demographics, Essay Example

As of 2010, women comprised 53.6 percent of the labor force. This has been a huge increase over 1960 when the corresponding rate was only 33.4 percent (Infoplease). Similarly, immigrants were approximately 16.4 percent of the labor force in 2010 while they were only 4.9 percent in 1970 (Brookings). This shows that like women, immigrants are also playing an increasingly important role in the U.S. economy. As of 2010, the workers of age 45 and over comprised 42.9 percent of the labor force. This is expected is projected to increase to 45.3 percent by 2020 (Bureau of Labor Statistics). This also means that significant number of baby boomers will delay their retirement.

These trends have numerous implications for companies. First of all, there will be growing pressure on the companies to increase training of younger employees to offset some of the gap left behind by experienced baby boomers. The demand for baby boomers’ services will increase and this may also help them enjoy higher wages. The baby boomers may also engage in entrepreneurship to take advantage of the demand for their services. It may also mean increasing interaction between the new recruits and the senior employees in the organizations to help transfer the knowledge and experience of baby boomers to the next generation.

The women are becoming increasingly involved in the labor force, thus, companies will have to provide more services to attract them and help them pursue long-term careers. More women should be able to reach senior management because their managerial skills will be increasingly important in the globalized world. Women are effective at building consensus and relationships and these skills are important to manage a diverse workforce. The companies will also provide services to women to better balance home and work responsibilities and may even allow women to work from home. Working from home should become more efficient due to advancements in information technologies including 24-hour internet access and video conferencing. Another way the companies may try to attract women are by providing services such as on-site nursery, allowance for nannies to look after babies, and paid leave during pregnancy. This will motivate more women to seek long-term careers. The demand for women should also help them increase their wages.

Immigrant workers may also continue to gain importance because U.S. cannot produce skilled workers at the same pace as its economic rivals such as India and China. Thus, U.S. will attempt to reduce the competitive gap by attracting skilled labor force from all over the world. This means the U.S. workplaces will continue to become more and more diverse. The companies will have to introduce policies that accommodate the unique cultural and religious needs of immigrants. The organizations will also increase diversity training for both immigrant and local workers so they get to know each other better and form productive working relationships. The demand for immigrant workers will also increase due to globalization as immigrant workers can provide valuable local perspectives.

References

Brookings. Immigrant Workers in the U.S. Labor Force. 15 March 2012. 13 May 2012 <http://www.brookings.edu/research/papers/2012/03/15-immigrant-workers-singer>.

Bureau of Labor Statistics. Overview of the 2010–20 Projections. 13 May 2012 <http://www.bls.gov/ooh/About/Projections-Overview.htm>.

Infoplease. Women in the Labor Force. 13 May 2012 <http://www.infoplease.com/ipa/A0104673.html>.