DALLAS, Jan. 16 /PRNewswire-USNewswire/ -- By 2010 there will be 11.5
million more jobs than workers. It's called the "new reality" and it's
happening now as baby boomers retire, leaving a drastically smaller
employee pool to fill their jobs. These individuals lack the boomers'
skills and experience and bring different work ethics, expectations and
loyalties to the workplace.
In a recent survey conducted by leading executive search firm Stanton
Chase International (www.stantonchase.com) and Birkman International
(www.birkman.com), 94.1% of respondents report current or impending
shortages of quality leadership talent. Furthermore, 90.4% perceive a gap
in talent between baby boomers (current corporate leaders) and younger
Nearly half (48%) say this shortage critically or significantly affects
their organizations' senior management level.
"These numbers indicate a critical need for talent that's forcing
organizations to rethink their hiring and retention practices-or suffer the
consequences," said Steve Watson, international chairman of Stanton Chase,
which has 57 offices in 35 countries and is a top 10-ranked global retained
Most organizations are preparing for the talent search. Two-thirds
(67%) are concerned about the situation and two-thirds are at least
moderately prepared (64%), meaning they are planning and implementing
strategies to address the shortage.
Slightly more than a third (36%) reported that their organizations are
doing little or nothing about it.
Interestingly, only 55% said the CEOs of their organizations are very
or completely willing to embrace strategies necessary to attract, assess
and retain new generations of employees.
Baby boomers have been the most stable and loyal workforce in history
with average employee tenure 15 years in 1980 and 10 years in 2000. In
2000, average tenure for Generation X (born 1965-1977) was five years.
Average job tenure today is four years, according to the U.S. Bureau of
"This lack of skilled and experienced workers combined with a
multigenerational work force with varying values, work ethics and
priorities plus economic changes are what the new reality is all about,"
Watson said. "Organizations that do nothing about it have the most to
The survey was conducted among executives in the United States and
Canada by Stanton Chase International and Birkman International. With a
sample size of 560, they estimate with a 99% probability that results have
a sampling error of +/- 5.5%. For full survey results, visit
Reeves Laverdure Public Relations
SOURCE Stanton Chase International