Overcoming the Demographic Drought

Have you heard the term “demographic drought”? The basic premise is that there are not enough people to do the jobs required. I came across a 41-page e-book talking about this issue and a video as well. You can download the ebook here.

The demographic drought is not merely a result of COVID-19. 

Pre COVID-19 we had:

• Record low unemployment rates
• The Boomer generation retiring
• The Millennial generation entering the workforce but not working as much as the Boomers leaving the workforce
• More people working part time than full time because they want to
• Industrial workers leaving to do retail work

All of these things combined have resulted in a severe labor shortage. COVID-19 complicated this but did not cause it.

To make matters worse, a large % of the current available workforce are more skilled/educated and the jobs that are currently available are for unskilled workers. In the past, we would make up the difference for the unskilled workers with immigrants but due to COVID-19 and the borders being shut down the number of immigrants entering the workforce was near zero in the last year or so.

9.3 million people lost their jobs during COVID-19. As of May 2021, only 1 in 3 of those people are actively looking for work.

Something that the video mentions is something that many people wouldn’t think of being part of a labor shortage. I know it surprised me. Over 800,000 prime-age men have an addiction to opioids. Last year we had more opioid deaths than ever.

All of this information feels very bleak. What can you as an employer do to help overcome the demographic drought at your company?

I believe that making sure that you hire the right people and do your part to make them feel valued, appreciated, and cared for as part of the team is a big part of that. Having a thriving team is critical. I shared why this is important in my recent blog post.

Helping to make sure that your team is living their God-given purpose will help them, you, and the world.

I’d be interested in your feedback if you read the ebook or watch the video. What is something positive that you can do to be part of the solution during this demographic drought?

Coach Dale

[email protected]

Playlists — music can change your mood, enjoy some of the songs that encourage me.

The Identity Key — you can purchase my book on Amazon.