Labour shortages – and the challenges of managing talent

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