Global: Logistics industry expected to face labour shortage
26.07.2017 Global: Logistics industry expected to face labour shortageCEP Research, 26 Jul 2017, online:-
According to a DHL report, the global logistics industry is expected to face a labour shortage owing to ageing workforce, effect of digitalisation and technology and lack of 'new talents'. Over one-third of the firms have not taken steps to create talent pipeline for the future or develop their workforce, says a report by lharrington group's President Lisa Harrington's report 'The Supply Chain Talent Shortage: From Gap to Crisis'. According to the U.S. Bureau of Labor Statistics, jobs in logistics are expected to grow 26% between 2010 and 2020. A global study has estimated that the demand for supply chain professionals is more than supply in a ratio of 6:1 and the ratio may be as high as 9:1. Reasons for the shortage include changing skill requirements and the perception that jobs in the industry lack excitements among others. A study found that firms that excel in talent management have recorded a 2.2 times faster increase in revenue and 1.5 times faster increase in profits as compared to those who are 'talent laggards'. The industry has to begin emphasising the need for skills in robotic management, AV control and Artificial Intelligence in the future workforce.
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