In a study of Harvard University, from 1980 to 2000, the number of public of the age groups of 25-54, traditionally the major source of the nation’s workforce, augmented by 35 million. For the period from 2000 to 2020, it has been anticipated to grow by just 3 million. The current decade alone will see an out-migration of 24 million workers, representing 18 percent of the experienced workforce. A projected turn down in the 35-44 age group, the conventional basis of new management, will make series planning tougher for associations, face serious workforce challenges at all levels of their organizations (Rajaputhra N.).
These alterations in the technology resulted in huge turn down of the business and because of it organizations are in front of a big challenge of lack of skills, the skills required by the workforce of have changed. This is why it has become important for organizations to recognize correct people, hire them, train them, pay them, prize them, support them and promote them appropriately.