Career Planning in Today s Labor Market

Transcription

1 WACRAO Conference John Pritchett MS, LPC, MCC Career Planning in Today s Labor Market

2 Labor Market Trends Current Recession Occupational Projections Education and Training Options Aging Workforce Job vs. Career Security Did You Know - Shift Happens The Future of Work

3 What people have sacrificed because of the recession 1. Eating out 2. Travel 3. Salon/beauty products 4. My own place/future home 5. Shopping for fun 6. Cable 7. Going out to the movies 8. Health or car insurance 9. Coffee out 10. Peace of mind/sense of security or freedom 11. Having a child 12. Hobbies (pets)

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5 The ManpowerGroup Talent Shortage Survey 8 th annual survey More than 1,000 employers surveyed in the U.S. Nearly 40,000 globally 39 countries and territories Research conducted in Q1 2013

6 The U.S. is still wrestling with high unemployment, but 52% of employers report difficulty filling open positions. Source: Manpower Inc.

7 By 2020 there will be 123 million highskill, high-pay jobs available in the U.S., but only 50 million Americans with the right education to fill them. Source: Manpower Inc.

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9 U.S. jobs most in demand, Skilled trades 2. Sales Representatives 3. Drivers 4. IT Staff 5. Accounting and Finance Staff

10 U.S. jobs most in demand, Engineers 7. Technicians 8. Management Executives 9. Mechanics 10. Teachers Source: Manpower Inc.

11 Occupational Projections

12 NACE Job Outlook 2013 Survey conducted July 25, 2012 through September 10, Employers expected to hire 13 % more new college graduates than last year, but revised estimates to 2.1 % in April, 2013 Spring Update. Most employers are interested in hiring grads from business, engineering, or tech-related disciplines.

13 NACE Top 10 Bachelor s Degrees for the College Class of Finance 2. Computer & Information Science 3. Accounting 4. Business Administration Management 5. Mechanical Engineering

14 NACE Top 10 Bachelor s Degrees for the College Class of Management Information Systems 7. Electrical Engineering 8. Computer Engineering 9. Marketing/Marketing Management 10. Economics

15 The Candidate Skills / Qualities Employers Want 4.55 Ability to work in a team structure 4.50 Ability to make decisions and solve problems 4.48 Ability to plan, organize, and prioritize work 4.48 Ability to verbally communicate with persons inside and outside the organization 4.37 Ability to obtain and process information 4.25 Ability to analyze quantitative data 4.01 Technical knowledge related to the job 3.94 Proficiency with computer software programs 3.62 Ability to create and/or edit written reports 3.54 Ability to sell or influence others Job Outlook 2014 October 2, 2013

16 Eight Hot Careers to Watch In 2013 Medical Assistant Software Developer Dental Hygienist Personal Financial Advisor Public Relations Specialist Social Worker Biomedical Engineer Veterinary Technologists and Technicians Yahoo! Education 12/28/2012

17 New and Emerging Industries Water Supply Systems Science and technology R&D Clean energy and power plants Transportation systems Agricultural technologies and solutions Promoting sustainable living Source: The Futurist Magazine

18 Education and Training Options

19 Education and Training Options On-the-Job Training Military Apprenticeship Trade School Technical College Community College 4-Year College

20 Parent Concerns for their Children Happy Healthy Safe Successful Self Supporting

21 The American Freshman: National Norms for Fall 2012 and Fall 2006 Sylvia Hurtado & John H. Pryor Cooperative Institutional Research Program (CIRP) Higher Education Research Institute (HERI) Graduate School of Education & Information Studies University of California, Los Angeles

22 CIRP Freshman Survey Comprehensive survey of incoming first-time full-time college students at four-year institutions Beginning of longitudinal research program that continues with the YFCY, DLE, and CSS 47th year and over 15 million students total

23 CIRP Freshman Survey 2012 Administered at 389 four-year institutions 236,937 students Norms 283 four-year institutions 192,912 students Weighted to 1.5 million entering four-year institutions

24 % of Students Reasons to go to College (% Indicating Very Important ) 100 To be able to get a better job To be able to make more money 90 To gain a general education and appreciation of ideas

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27 % of Students Most important objective: Being well off financially Being very well off financially Developing a meaningful philosophy of life

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29 Reasons noted as very important in deciding to go to college 87.9 % To be able to get a better job 82.5 % To learn about things that interest me 79.3 % To get training for a specific career 74.6 % To be able to make more money 72.8 % To gain a general education and appreciation of ideas 61.9 % To prepare myself for graduate or professional school 50.6 % To make me a more cultured person

30 Reasons noted as very important in deciding to go to college 46.4% Parents wanted me to go 21.1% Wanted to get away from home 17.2% A mentor or role model encouraged me to go 5.6% I could not find a job 4.1% Nothing better to do Fall 2006

31 Pathways to Prosperity: Meeting the Challenge of Preparing Young Americans for the 21 st Century Source: Pathways to Prosperity Project Harvard Graduate School of Education

32 A More Demanding Labor Market In 1973, a high school diploma was the passport to the American Dream 72% of the workforce of 91 million had no more than a high school degree Source: Center on Education and the Workforce, Georgetown University 32

33 Today s Reality: PSE Credential is the New Passport Post-secondary education (PSE) is necessary to compete in the global economy in 2010 and beyond: Between 1973 and 2007, we added 63 million jobs Jobs held by those with no more than a High School education fell by 2 million over this period Workers with a HS education or less now make up just 41% of workforce, as compared to 72% in 1971 Source: Center on Education and the Workforce 33

34 PSE Will Be Even More Important Tomorrow Economic forecasters widely agree that these trends will continue For example, the Georgetown Center on Education and the Workforce forecasts: 63% of all jobs will require at least some college in 2018, up from 59% now The U.S. will need to produce 22 million more PSE degrees by 2018, but we are likely to fall short 34

35 College for All does not mean everyone needs a B.A. Even in this decade most jobs do not require a B.A. Source: March CPS data, various years; Center on Education and the Workforce forecast of educational demand to

36 What is the right goal for the U.S.? College for All needs to be broadened to mean a meaningful post-high school credential for all A meaningful credential can be earned in many ways: Community college Apprenticeships The military/community service Four year college 36

37 Future Jobs: Solving the Employment and Skills Crisis Edward E. Gordon (Praeger, September 2013)

38 Future Jobs: Solving the Employment and Skills Crisis Seventy-five percent of the available jobs will require higher skills and offer higher pay The U.S. labor market is out of sync with the career aspirations of many people. Too many younger workers lack general education and specialized career skills, let alone a strong work ethic, to sustain a middle-class standard of living. They adding to the growing American underclass. The new talent era will require the majority of workers to acquire and maintain high skills and career knowledge throughout their working lives.

39 Aging Workforce

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41 Boomers Downsize Retirements 77 million-strong generation Just 9% say they are strongly convinced they ll be able to live comfortably in retirement 47% say they ll have to delay retirement 82% say they will have to work for pay in retirement Milwaukee Journal Sentinel Tuesday, October 15, 2013

42 Boomers Downsize Retirements Nearly two-thirds of Americans between the ages of 45 and 60 say they plan to delay retirement, according to a report to be released Friday by the Conference Board. That was a steep jump from just two years earlier, when the group found that 42% of respondents expected to put off retirement. Source: Wall Street Journal 2/7/2013

43 When Gray is Golden: Business in an Aging America Health Care Home Products Financial Services and Products Recreation and Leisure Services Educational Services Business Consulting Wellness and Youth-Enhancing Products Source: The Futurist July-August 1992

44 Dr. Ken Doka Hi John Every time I get an from you I resolve to do another -- hard to prejudge careers but fields in technology (ie IT, helping companies keep abreast of technological opportunities) and aging will always be big Warmly Ken

45 Job vs. Career Security

46 Career Path In the past, a person s career path was often like an escalator ride!

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48 Job Security is an obsolete term that refers to a time in history when "companies provided job security, good pay, and benefits in return for a lifetime career commitment from employees." 1956 The Organization Man - William H Whyte Jr.

49 Rockwell Automation (Allen-Bradley) The developments at Rockwell Automation are hardly unique to Milwaukee - or to America. Globalization has transformed our economy at its core, and no amount of coaxing will put the genie back into the bottle. Source: One Union s Demise by John Gurda

50 Career Security Career Security is never provided by an employer. It is something we create for ourselves! It is developed through a continuous process of updating skills, networking, and looking at wherever we are at the moment as a stepping stone to the next stop on our career journey! Individuals possessing Career Security feel in control of what happens to them in the workplace. They have become the master of their career, rather than its victim!

51 Planned Happenstance Learning Theory Unpredictable social factors, chance events and environmental factors are important influences on our lives. By approaching chance conditions and events positively we are more likely to capitalize on chance events and turn serendipity into opportunity.

52 Helpful Personality Traits Curiosity to explore learning opportunities Persistence to deal with obstacles Flexibility to address a variety of circumstances and events Optimism to maximize benefits from unplanned events.

53 Factors Helpful in Career Management The commitment to ongoing learning and skill development Ongoing self-assessment Assessment and feedback from others Effective networking Achieving work-life balance Financial planning to incorporate periods of unemployment.

54 The Single Most Critical Skill for the 21 st Century Foresight! World Future Society October 1, 2013

55 Foresight! In this era of accelerating change, knowledge alone is no longer the key to a prosperous life. The critical skill is foresight. Knowledge quickly goes out of date, but foresight enables you to navigate change, make good decisions, and take action now to create a better future.

56 Foresight! We often think people are successful because of luck, when in fact it was their foresight that made them lucky. Foresight prepared them so they were ready to act on their opportunities. If you look at any successful person, organization, even country, you will find a high degree of foresight. That is why foresight is the secret ingredient of success.

57 Foresight! Foresight is critical to achievement in all areas of your life, including your major life decisions. People who lack foresight are likely to find themselves unemployed when jobs are unexpectedly lost to new technologies, competition from overseas, or shifts in consumer tastes. Foresight is the key to survival in a world of disruptive innovation. World Future Society October 1, 2013

58 Did You Know?

59 The Future of Work

60 Questions? John Pritchett MS, LPC, MCC (262)