This report by the CIPD explores the challenges for different industries of an ageing workforce and how to mitigate the risks. Drawing on data from the Labour Force Survey (LFS), the report explores the age profile of different industries and the extent to which industries are currently experiencing a drop-off in employment after certain ages. The results reveals the health and social work sector, education, retail and manufacturing are all likely to have to replace over a million retiring workers each over the next 15 to 20 years or find ways of raising the productivity of those who remain in work. However, even in industries at the other end of the age spectrum that rely mainly on younger workers may have difficulties and will need to rebalance their resourcing strategy to ensure a stable workforce for the future. The report concludes by emphasising that population ageing has the potential to cause significant labour market disruption, however a crisis can be averted if employers adapt their HR and age-diversity practices, tailoring them to meet the difficulties their industries will encounter over the coming years. 

 

Click here to read the full report

 

Do you agree with the CIPD's views on the ageing workforce?  Has this issue created any new challenges for your organisation? Share your thoughts in the comment box below.

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CIPD