The Changing US Population Demographics - Assignment Example

The population demographics of developing countries such as Nigeria, Indonesia, India, and Pakistan are characterized by high birth rates. The population in Africa and Asia is estimated to triple by 2030 due to the high fertility rates and unexploited resources in those countries (Shapner, 2007).

Implications of the changing population demographics for business firms

            The changes in U.S population demographics will affect the work, healthcare, private wealth, and income security of the citizens. The business firms will be required to increase their social security contributions due to the increase in the number of post-retirement years for their workers (Kachru, 2009). 

            The business firms will have to align their employment practices with the changes in population demographics in order to remain competitive. The firms will have to incorporate diversity in their talent development and implement human talent development programs that aim at attracting the next generation of the young and skilled workforce (Little and Triest, para 3).

            Business firms will have to shift more of their employees from full-time positions to part-time positions in order to address the life-balance requirements of the aging workforce and the need for luxury (Kurtzleben, para 4).

            The aging population in the US will increase the demand for healthcare services. This requires innovative health technologies that will address the high increase in acute and terminal diseases such as Alzheimer's and cancer. The business firms will have to offer additional medical benefits in order to ensure the aging workforce remains productive (Shapner, 2007). 

The replacement birthrate (total fertility rate) for the US and other developed countries and implications for business firms

            In 2008, the birth rate was 14 live births per 1,000 representing a 2 percent decline from 2007 statistics and the general fertility rate was 68.6 live births per 1,000 women aged 15-44 years. The high fertility rate was attributable to increased access to child care services and other societal adaptations such as male involvement in household labor. The mortality rate was 9.7 deaths per 1,000 persons and life expectancy was 77.9 years (Heisler 2011).  The net immigration rate is currently at 4.3 percent per 1,000 persons and the entire population growth rate is estimated at 9.4. In this case, the population growth rate is demonstrating a declining trend.

            Legal immigrants have been a major contributor to the semi-skilled workforce in the US and business firms will require immigration policies that allow the entry of highly skilled workers and low-skilled casual employees in order to bridge the human talent requirements in the industries (Lerman and Schmidt p 6).

Conclusion

            The US population demographics changes include the increase in aged citizens, the increase in diversity due to immigration, and the slowdown in the population growth rate. The business firms will have to implement diversity programs and improve the healthcare and social security benefits of the employees. The firms must offer flexible working hours for the aging workforce and increase the benefits in order to attract a young and skilled workforce.