Costco Connection - October 2011

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PAUL AND SARAH EDWARDS: LIFESTYLES FOR THE MILLENNIUM

Paul and Sarah Edwards ( www.elmstreeteconomy.com ) are the co-authors of a new edition of Home- Based Business for Dummies and 16 other books. MARY ANN HALPIN PHOTOGRAPHY

Trade in the trade show?

TRADE SHOWS BRING together buyers, sellers, suppliers and media. The right show puts you in front of buyers seeking what you sell, and also connects you with suppliers. You can generate more sales leads in a day than you might in months.

But if you’ve been to trade shows lately,
you may have noticed attendance has
slipped. A major factor is the cost of travel
and people not spending as they have in
the past. Most important, businesspeople
and consumers increasingly use the Web
for contacts, product information and to
know what their competitors are doing. As
a result, we’re seeing the growth of virtual
trade shows with 3-D exhibit halls and show
floors, and even social networking.

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Five trends shaping the future of work

By Bob Nelson

THERE ARE FIVE major trends that will increasingly affect the workforce of all organizations:

1. The growing shortage of skilled workers. With unemployment still hovering around 9 percent, it is hard to grasp the concept of an impending skilled labor shortage. However, this is exactly what is unfolding and will continue to unfold in the decades ahead—not a labor shortage, but a skilled labor shortage. The evidence is based on current demographic trends, which indicate a declining birthrate in industrialized countries, combined with an aging population that is heading into retirement. This will be the most significant human resource trend over the next few decades.

2. The rise of the Millennials.

Those born between 1980 and 2000 will
soon make up the largest segment of the
U.S. workforce in both number and atti-
tude, reshaping the workplace. This genera-
tion of 90 million prospective workers
thinks and is motivated differently from
previous generations. They expect work to
be part of their lives, not to define who they
are, yet they also expect meaning in their
jobs and are not interested in “paying their
dues.” Instead of a “career ladder” of steady
promotions, this group expects a “career
lattice” with varied work experiences.

PHOTODISC

5. The globalization of the labor market. The geographic bonds between producer and consumer are gone, and jobs are more often transferable around the globe. Companies will increasingly need to decide what their core competitive advantages are, and what things other firms can do better to move the work or move the worker. C