Demographic change

When young professionals fail to materialise

“We have a number of job vacancies. But no one is applying.” – Young professionals are failing to show up. Many organisations are familiar with this situation and the challenges it entails. This is how the demographic change looks in numbers:

In 2019, organisations were not able to fill their trainee and apprenticeship openings in ten percent of cases. This is borne out by figures from the Federal Institute for Vocational Education and Training. And something else is changing: while fewer younger people are entering the job market, the large group of baby boomers will be retiring soon. With them, experienced specialists and top managers will be transitioning into retirement starting in 2025. That means that across Germany, 227,000 SMEs will be looking for new managers by the end of 2020.

What you can achieve with diversity 

If your current strategy is missing the mark, you should take different paths: broaden your search for talent. Open up to unfamiliar target groups. Organisations that build on diversity profit from two strategies in particular:

Broaden your sphere of action: search internationally!

Larger companies in particular deliberately search abroad for specialists. Many IT experts come, for instance, from Asia. A company’s search is more likely to succeed when they already employ staff from the target markets. An international search also changes the diversity within companies. 

Old and young: an unbeatable combination

Even after they have reached retirement age, an increasing number of people would like to keep working. In most cases, they do so not just because of the money. That’s good for companies: they can retain competent specialists and combine their experience with younger generations’ knowledge. A promising prerequisite for innovation and creating value.

Click here for the digitalisation future trend.

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