Labour Market Information Information on job, skills and local labour market trends is important for making career decisions. In addition, information on wages, labour supply, labour demand and other factors helps employers recruit, train and retain workers and make business and investment decisions.

Challenges and Changes in the Labour Market Agricultural Age, Merchant, Industrial Age, Labourer, Command and control, trade union, strike New economy, Information Age, Trends, labour market, attrition, war for talent Transient population – world issues Life work balance, what motivates talent home-based employment, Intellectual Capital – knowledge and skills learned, what the employee has to offer, recruitment

Saskatchewan/Moose Jaw

Trends and Fads What are they? Source: “Opportunities are never lost. Someone will take the one you miss.” Anonymous

What do the following movies have in common?

3-D Movies Trend – a general direction in society that may last for a long time – Ex. health trend, Green Trend Fad – A craze that people take up quickly and then drop just as quickly. – Ex. Pogs, Tickle-Me Elmo, Hummers

So, the question is..... TREND or FAD

Identifying Trends As an entrepreneur you want to – ID potential changes in needs and wants – Seek out opportunities Changes in society will do both – Trends – these changes are long lasting – Fads – these changes disappear in a matter of months or even weeks

Forecasting Trends Forecast – A prediction about the future No one can 100% predict the future, but people get paid a lot of money for educated guesses Accurate forecasting depends on your ability to organize data in order to see patterns

Forecasting Trends A number of entrepreneurs saw the growing concern for obesity, fatty foods, etc – Opened businesses in physical fitness (Mcfit), health foods (McDonalds), exercise equipment (Bowflex) and clothing (Underarmour) Businesses that jump aboard Fads do not succeed … at least maybe long term – Can you think of any?

Current Trends The world’s population is at an all-time max and is growing – food shortages More than 50% of the world is under 20 years of age By 2150 – life expectancy is expected to be 86 for males and 92 for females – Population over 65 will be greater than population under 15 – issues? Families are shrinking in size – More duel income families – City Living (urban/rural), crowded, social pressures

Current Trends

Green Living Active Living Lifelong Learning – Learning in school type environments after high school/post-secondary Universal Design – Accessibility of all things for all people (races, sexes, religions, handicaps, etc) Nature – Trails, Rooftop Gardens Digitalization – Of everything! – Books, music, TV, Movies, etc.

Trend Watching – The next big thing!

Trendwatching.com xGg#t=56 xGg#t=56 Trends shouldn’t be the focus but the opportunities it presents! 2015 trends site – endwatchingcoms-10-trends-for endwatchingcoms-10-trends-for-2015

Global Influences Source: / 2015/ Self Tracking (monitor medicine, fitness, wellness – mhealth services and apps could be worth 11.5 billion by 2017) Circular economy ((green growth and sustainability) – recycling industry in China planned to be work 183 billion 2015) Collaborative Culture (sharing economy and social value) – AirBnB and Zipcar, Neighbor Goods, Calgary car share) – Seoul – world’s first official Sharing Economy (At its most basic definition, the term refers to when human and physical resources are shared between individuals, generally with the help of an online platform or marketplace.) Conscious Capitalism - social capital and community ( almost 2/3 of people prefer to work for an organisation making a positive difference.) Purpose Driving (culture of purpose and inspired action) - Great leaders inspire action and, as Simon Sinek reminds us: ‘If you hire people just because they can do a job, they’ll work for your money. But if you hire people who believe what you believe, they’ll work for you with blood and sweat and tears.’

Today’s Assignment I want you to identify some Fad’s and Trends We are going to use the website / other sites as well. In the 2000’s you will see a list of items that could be considered trends or fads I want you to name – 5 fads – explain why you think they are fads – 5 trends – explain why you think they will become trends – Opportunities: I want you to brainstorm 3 businesses that could take advantage of these trends – List 5 ideas or business ventures that could come from the fads/trends listed above. – Resources – list them all

Good Resources -friday-how-to-distinguish-between-fads- micro-trends-macro-trends-and- megatrends.html -friday-how-to-distinguish-between-fads- micro-trends-macro-trends-and- megatrends.html