AI Won't Fix a Broken Process: Stacey Harris Shares Survey Data · The Meg and Amy Show · Radar

The Global Labor Paradox48:41 – 51:43

48:41

So any last gems from the survey that you want to drop on us?

Stacey HarrisGuest

48:46

The one thing I will say is that we're definitely in the middle of what we call a global labor paradox right now.

Stacey HarrisGuest

48:54

We're hiring as many as we're laying off everywhere, right? And APEC has caught up to us now for a while.

Stacey HarrisGuest

48:59

APEC was ahead of us in getting more layoffs, but they're hiring now as much.

Stacey HarrisGuest

49:02

And so across the globe, we're looking at this data set.

Stacey HarrisGuest

49:04

When I look at that data and then I look at our demographic data with the global demographic data, is that we as businesses cannot get too comfortable with the fact that we have all this talent available.

Stacey HarrisGuest

49:17

If you look at any of the demographics everywhere, right? And that'll be a big part of my presentation at HR Tech will be to start looking at these demographics.

Stacey HarrisGuest

49:26

Our data is already starting to show that the average timeframe for an HR person who's responding to our survey went from three years just two years ago to about 10 years.

Stacey HarrisGuest

49:36

What that means in our data sense is that we have lost a lot of the early entry people who were coming into the roles.

Stacey HarrisGuest

49:43

We lost over more than half of what would be baby boomers in Gen X in our data set.

Stacey HarrisGuest

49:48

Everyone is sitting in that millennial age for it right now.

Stacey HarrisGuest

49:52

And we do not have the capacity to build up the next generation.

Stacey HarrisGuest

49:58

We haven't built this structure in place.

Stacey HarrisGuest

50:00

And so as much as we think that, oh, we've got time and we can buy as many people because that's what we did in the last... round of recessions, there won't be the people to buy.

Stacey HarrisGuest

50:09

So if you can't recruit, what's your next option if there's just not people there? So as much as I think we feel confident that there will always be a workforce, the data says it won't be in the next five to 10 years, right? So be aware of that.

50:21

That's a

Stacey HarrisGuest

50:21

good way to put it.

50:23

I got started to worry about this particular topic.

50:26

I will recommend a book here.

50:28

It's called The End of the World is Just the Beginning.

50:31

And it really puts into stark relief what does the future look like when we start to feel that.

50:40

the population decline situation.

50:42

To your point, it's time to plan.

50:43

But I think it's not

50:44

just population decline.

The Global Labor Paradox48:41 – 51:43

48:41

So any last gems from the survey that you want to drop on us?

Stacey HarrisGuest

48:46

The one thing I will say is that we're definitely in the middle of what we call a global labor paradox right now.

Stacey HarrisGuest

48:54

We're hiring as many as we're laying off everywhere, right? And APEC has caught up to us now for a while.

Stacey HarrisGuest

48:59

APEC was ahead of us in getting more layoffs, but they're hiring now as much.

Stacey HarrisGuest

49:02

And so across the globe, we're looking at this data set.

Stacey HarrisGuest

49:04

When I look at that data and then I look at our demographic data with the global demographic data, is that we as businesses cannot get too comfortable with the fact that we have all this talent available.

Stacey HarrisGuest

49:17

If you look at any of the demographics everywhere, right? And that'll be a big part of my presentation at HR Tech will be to start looking at these demographics.

Stacey HarrisGuest

49:26

Our data is already starting to show that the average timeframe for an HR person who's responding to our survey went from three years just two years ago to about 10 years.

Stacey HarrisGuest

49:36

What that means in our data sense is that we have lost a lot of the early entry people who were coming into the roles.

Stacey HarrisGuest

49:43

We lost over more than half of what would be baby boomers in Gen X in our data set.

Stacey HarrisGuest

49:48

Everyone is sitting in that millennial age for it right now.

Stacey HarrisGuest

49:52

And we do not have the capacity to build up the next generation.

Stacey HarrisGuest

49:58

We haven't built this structure in place.

Stacey HarrisGuest

50:00

And so as much as we think that, oh, we've got time and we can buy as many people because that's what we did in the last... round of recessions, there won't be the people to buy.

Stacey HarrisGuest

50:09

So if you can't recruit, what's your next option if there's just not people there? So as much as I think we feel confident that there will always be a workforce, the data says it won't be in the next five to 10 years, right? So be aware of that.

50:21

That's a

Stacey HarrisGuest

50:21

good way to put it.

50:23

I got started to worry about this particular topic.

50:26

I will recommend a book here.

50:28

It's called The End of the World is Just the Beginning.

50:31

And it really puts into stark relief what does the future look like when we start to feel that.

50:40

the population decline situation.

50:42

To your point, it's time to plan.

50:43

But I think it's not

50:44

just population decline.