Social challenges | Global economy

Labour shortages – and the challenges of managing talent

03/02/2023 GIF

The digital and green transformations have driven rapid changes in the world of work. Along with ageing populations, workers are facing ever greater job instability – which could impose costs on companies, workers and society.

By 2019, the average length of a job for a worker fell by nine months compared with just seven years before, a decline has been felt across all age groups. People have also been changing jobs at a faster pace, with one in five workers experiencing a change every year. This is a greater challenge for older workers.

With more people working for longer and against a backdrop of acute labour and skill shortages – a trend COVID-19 appears to have accelerated – there is a greater need to understand how to put the skills of a multigenerational workforce to better use, including through greater worker retention.

Explore: Retaining Talent at All Ages