Posted on October 31, 2019
Terrifying Tidbits… #ScaryStats2019
Scary Stats is baaaaack… in its 7th edition!
- Workforce – 70% of the workforce is disengaged – The majority of workers are disengaged — miserable, putting forth minimum effort, complaining, unattached, willing to leave for a slightly better offer.
- Insurance – 60 years old is the average age of insurance agents. One quarter of insurance workforce retired between 2015 and 2018. Retirements, turnover up. Many insurers trying to hire but struggling to fill demand, stay competitive.
- Construction – 1.1 million construction workers will retire in the next five years. Mass retirements. Few young people entering field. With natural disasters, urban expansion, failing infrastructure, demand at all-time high.
- Banking and Finance – 48% of Millennials in the banking industry are actively searching for new jobs. Attrition is an urgent challenge. Among Millennials, 17 months is the average employee tenure and only 10% plan to stay in the industry long-term.
- Healthcare – 46% of doctors are over the age of 56. 1.1 million new RNs needed for the expansion and replacement of retirees. Significant nursing shortage expected by 2022 throughout North America. In U.S., majority of physicians between ages 56 and 65.
- Education – 16% of teachers quit their jobs each year. 60 is the median age of the top executive officers in higher ed. From elementary to university, schools are challenged with keeping talent. Turnover, succession planning, sustainability chief concerns.
- Trades – By 2028, there will be 3 million job openings in the skilled trades. This is why we look forward to playing a key role as a partner for the Build California initiative that launched this month. Led by Associated General Contractors of California, Build California is a comprehensive workforce development initiative created to inspire, engage, and activate the next generation of California’s construction workforce.
We are here to help your association and industry avoid becoming the next scary stat – contact us today to learn more!