The newest Demographic Drought report, The Rising Storm, is out now
Workers Wanted, Worldwide: Strategies for the Sansdemic
Strategies to Succeed in the Global Demographic Drought
Sansdemic : sans-without, demic-people
A demographic drought that is projected to worsen throughout the century and will impact every business, college, and region.
In our previous report, Demographic Drought, we dove into the current state of the US labor market and US talent pools. Now, we’re zooming out to address the global labor market. What started as a sansdemic in a few countries will continue to devolve into an outright global labor shortage.
Three factors will shape the future global labor supply:
An aging population is happening everywhere, but at a different pace.
Through 2040, growth in the working age population is expected to slow in eight out of 10 countries globally, and outright shrink in three out of 10.
Falling immigration will further contribute to the sansdemic in more developed economies.
Net migration is projected to slow in nearly 60% of developed economies over the next 20 years, contributing to the global labor shortage.
Higher workforce participation can partially offset an overall decline in working age people.
Over the last decade, labor force participation has outpaced working age population growth in four out of 10 countries.
Secure your copy of Workers Wanted, Worldwide
Strategies to Succeed in the Global Demographic Drought
What does the global labor shortage mean for employers?
Flexible work, skill-based hiring, and making accommodations for health or family challenges are ways to tap into overlooked talent.
To compensate for the worker shortage, employers may need to invest in training and support to ensure workers keep up with change.
Understanding and accommodating workers’ unique circumstances will give employers a competitive advantage in the labor market.
How will you respond to the worldwide sansdemic?
Faster-than-expected demographic shifts pose extraordinary risks—and opportunities—for governments and employers. Our global workforce is more important than ever, and with the right global talent strategy, you can succeed.
LOADING...
The Rising Storm
The population is aging and fewer and fewer people are entering the workforce. This perfect storm of demographic and workforce trends will lead to unprecedented disruption in the labor market. What are the forces shaping this storm, and how can you prepare?
The Rising Storm has the answers. Lightcast experts have done the math, using our data and analysis to understand why, how, and when the storm will hit, and steps every organization can take to build a future-ready workforce.
Catch up on what you missed
Read the original reports
The Demographic Drought: Bridging the Gap in our Labor Force
In the second report of the series, we addressed the current state of the US labor force, made predictions for 2022, and suggested two opportunities for increasing the labor force participation rate.
The Demographic Drought: The Approaching Labor Shortage
In our original report, we explored how the approaching labor shortages would transform the labor market forever. We approached the conversation by analyzing past, present, and future workforces.