Businesses Should Plan for Continual Changes in the Workforce

In some industries, getting and keeping enough workers with the right skill set on employee payrolls is already a challenge, and that challenge is only going to intensify over the next few decades. In fields like information technology and highly skilled, tech-based manufacturing, the pace of change is predicted to become so rapid that whole job categories will arise and then become obsolete within a span of just a few years. The United States, Canada and the industrialized world in general have already become familiar with the reality of job obsolescence, of course. The concept of working one’s entire life at the same factory position and collecting a paycheck from just one employer – a path followed by millions of Americans in the past – has not been a viable career plan for decades now.

In the 1980s, as the pace of technological change continued to accelerate, job and career changing became more common and more frequent. In this decade, at least in some fields, 10 years is considered a long time for a given position to last. In the not-too-distant future, tens of millions of employees will be in jobs that they expect to last for only 5 years – or even less.

The result of this is that, not too far down the road, millions of workers will be in the process of changing jobs or careers, or planning for such a change, at any given time. The implications of this to the economy and society as a whole are not entirely clear. For instance, will home ownership no longer be an American ideal, as more and more people become less and less inclined to invest in a home, if they can reasonably expect to relocate every few years in order to earn a living? Or will some of the same technologies that create this employment environment also make working remotely from home so widespread that a change of jobs will no longer imply a change of geographic location? Either way, there are likely to be unforeseen economic effects.

Businesses can begin making plans to deal with these workforce issues, however. Some businesses will have to find new ways to ensure that they have the employees that they need in the future. Technologically oriented companies who want to stay ahead of the curve that they themselves are creating will perhaps need to change their recruiting and hiring philosophies. They will need to focus less on current skills and more on a prospective employee’s adaptability, ability to learn and comfort level with frequent change. Retaining a labor force of intelligent, adaptable employees who can be retrained as needed may be more beneficial for both a business and its employees than constantly churning the staff to bring in the latest knowledge and skills from outside.

One constant that businesses can count on is Padgett Payroll Services. Over many years and through many changes in the business landscape, Padgett Payroll has always been there with solutions for the payroll outsourcing and tax management needs of small businesses in North America. Visit the Padgett Payroll website to learn about the full range of services we offer to small business at affordable prices. Call Padgett Payroll today at (706) 548-1040 to get our expert payroll management services working for you.

Do you have the support you need to manage your small business bookkeeping? Contact us to schedule an appointment to speak with a local small business advisor.