Content area
Full Text
The United States is currently in a new economy with new competitive standards. Attempting to meet these standards is changing the way companies do business and the way in which workers do their jobs. The old economy of the United States competed primarily on the basis of productivity and price. According to a report called "America And The New Economy," produced by the American Society for Training and Development and the United States Department of Labor, this new economy will require additional competitive standards: quality, variety, customization, convenience and timeliness. Anthony P. Carnevale, chief economist of the American Society for Training and Development, states that "those companies which adopt the new standards will be the ones that succeed. Workers who acquire the skills the new standards demand will be the ones with the best job opportunities.[1] The development of a new economy has caused the role of people at work to change by increasing worker responsibilities and skill requirements and by making worker responsibilities less job specific.
Major demographic trends are occurring within the workforce and labor market of the United States today. For instance, as the "baby boomers" age and the "baby busters" enter the labor force, the average age of the labor force will increase. There will be a growing need to retain experienced workers in order to meet requirements for new skills because new workers will be in short supply. There are a few employers that are ready reacting creatively to the aging workforce. For example, Days Inn has hired and trained retired persons to handle computerized reservations. Unfortunately, a new survey conducted by Towers Perrin and the Hudson Institute shows that most employers are doing little or nothing to respond to the aging workforce.
Another demographic trend with significant impact on the labor market of the United States is the movement of large numbers of women into the workforce. It is estimated that more than sixty percent of the people entering the labor force between now and the year 2000 will be women. This is causing more stress for workers, both male and female, who have to cope with both family and job demands. In order for employers to attract and retain the desired skills in tight labor markets, they...