This document discusses how changes in demographics, regulations, technology, and culture are impacting the availability of traditional blue-collar workers and creating opportunities for home service companies. Key points include:
- Millennials are less interested in blue-collar work and prioritize benefits over pay. The pool of uneducated and undocumented immigrant workers is shrinking due to policy changes.
- The economy is growing rapidly but productivity is limited by the shrinking labor force. Most service companies are not adapting their people strategies to attract new types of workers.
- There is an opportunity for companies to expand home services by developing a dedicated recruiting function to attract and retain the right people through tools like applicant tracking, onboarding, learning management
12. How important is the
skill of finding
(unmet needs)?
As an entrepreneur
As a growing company
As a manager
13. Sources of major change
Where do I look for change?
What change creates an unmet need?
14. Demographic
change
These are shifts in populations
based on gender, age, race,
ethnicity, religion, language,
income, education, and other
factors.
25. A 2015 Glassdoor survey revealed
89% of millennials prefer benefits
and perks to a pay raise and
another 83% of millennials would
shift their job for better benefits.
89%
Millennials
26. 64% of millennials said they wouldn't
work in construction even if they
earned $100,000 or more.
- Human resources today - Nov 2018
Millennials
64%
32. 72% of millennials would rather spend
money on experiences versus possessions,
while only 22% valued material goods over
experiences.
Millennial
Perspective
22%
33. Millennial
Perspective
Young adults also do not typically enjoy the
work/life balance that the older generation
had the privilege of having, which means
they are more likely to be more time poor.
34. Millennials are not interested in
working in home services, but they
want to buy them
Major Change 2
35. Uneducated are getting
out of the game
“The increasing share of more educated
people in the US labor force is not just
because the US population is becoming
more educated. It is also because more
non-college graduates are leaving the
labor force due to disability…
36. The increase in disability rates, partly
because of the opioid epidemic, are
much more concentrated in the
population without a college degree
and is therefore having a larger
impact on the supply of workers to
blue-collar and low-paid service
occupations”
Uneducated are getting
out of the game
37. Immigration policies are
creating even greater pressure
on blue collar
In a study by The Conference Board from 2016, we
find that almost all occupations with a high
estimated share of undocumented workers are
within the blue-collar or low-paid service jobs.”
“
38. Undocumented immigrants tend to concentrate in
construction, agriculture, production (especially in
clothing and textile), food preparation and service,
and cleaning related occupations.”
Immigration policies are
creating even greater pressure
on blue collar
“
39. Immigration policies are
creating even greater
pressure on blue collar
“Recent immigration policy, which presumably is
reducing the number of available undocumented
immigrant workers, is having a larger impact on
blue-collar occupations than white-collar ones.”
40. A vast majority of current blue
collar workers are retiring
Also, in recent years, an unusually large share of
workers in blue-collar occupations have been
retiring. This combination of many retirements
and few new entrants is significantly reducing
the supply of workers for blue-collar
occupations. Since 2012, the number and share
of people without a college degree has been
shrinking. People with a college degree are
much less likely to look for a blue-collar job.
46. “
- Bill Conerly - Chief Economist
My economic forecast comes out to 2.7% growth in
inflation-adjusted GDP for this year and 2.8% for next year,
but with a bigger than usual uncertainty:
Can we actually produce more
stuff with our current labor force
and productivity?
76. ATS
Applicant Tracking System
OBS
Onboarding System
LMS
Learning Management System
PDS
People Development System
Forgely Platform Analytics
● Indeed
● Zip Recruiter
● Google Jobs
● Forgely Hire
● Docusign
● Unique Background
Solutions
80. Forgely Recruit
Service
Brand your company to potential employees
Pool of qualified candidates that fit your profile
Fraction of the cost of a recruiter
Get the people you need - At the price you can afford
81.
82. If you are ready to take
your company to the
NEXT LEVEL
