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23 July 2024 / Report
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Widening the available pool of labor is vital to tackling worker shortages not solved by automation or AI.
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The global labor shortage crisis is here. Indeed, CEOs around the world rank labor shortages among their top five external concerns and attracting and retaining talent as the number one internal concern for their businesses ahead. Disconcertingly, many economies are facing shrinking workforces that threaten regional and global growth, now and over the coming decades.
However, solutions to chronic labor shortages plaguing businesses are within reach. Collaboration between governments, companies, and nonprofits can increase the number of workers available to meet the decade’s challenges. A multifaceted approach including older, younger, male, female, and immigrant workers, is necessary for addressing global labor shortages.
In this seven-part series, understand the root causes of labor shortages, the negative effects of scarce labor on business performance and economic growth, and the number of additional workers needed to eliminate shortages. Additionally, discover where to find millions more workers, and how to keep them in the labor market over the long term.
Part 1: What's at Stake for Businesses?
Part 2: Embracing a Multifaceted Approach
Part 3: Immigration Is Necessary but Insufficient
Part 4: Optimizing the Older Worker Pool
Part 5: Unleashing Women Workers
Part 6: Getting Men Back into the Game
Part 7: Motivating Youth
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