In brief
Germany’s population is aging while facing a shortage of young people due to prolonged periods of low birth rates. This phenomenon, known as demographic change, has significant economic and social consequences that are already being felt today: There are not enough individuals in the country to fill crucial roles in sectors like healthcare, IT, the skilled trades and logistics.
This shortage of (wo)manpower presents a critical challenge to the attainment of economic and social goals related to digitalization and decarbonization.
Opportunities
The consequences of demographic change encompass both risks and transformative opportunities that will shape the future of the workforce and can strengthen societal cohesion in the years to come.
While competing for labor, businesses will strive to create enticing job opportunities.
The limited availability of labor is driving a conscious and efficient utilization of resources.
Developing new work and living arrangements to meet changing needs.
The meaning and significance of work is becoming a competitive factor for skilled professionals.
Projects, studies, rankings
In order to position industries, sectors, companies and regions for the future, demographic change and its impact need to be consistently taken into account.
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Challenges
In recent decades, the economy has experienced consistent growth. However, in the coming years, this upward trend will encounter new hurdles associated with a shrinking pool of labor. To address this situation, companies will need to leverage the opportunities presented by digitalization in order to sustain productivity and foster attractive work environments.
Meanwhile, employees will need to adapt by acquiring relevant (digital) skills for the future and fulfilling emerging job demands.
Expert voices
The way we live, work and generate prosperity will undergo fundamental changes. Demographic change is driving transformation processes in companies and neccessitates extensive adaptation processes at regional and local level of public administration.
Germany’s foreign workforce will prove pivotal in securing the country’s prosperity. Integration and a welcoming culture will therefore require the support of adequate resources and concrete strategies for development.
IMPACTS OF DEMOGRAPHIC CHANGE
The “human capital” factor has been instrumental in Germany’s prosperity. However, with demographic change, the pool of available labor is shrinking. Sustaining Germany’s innovative strength will involve harnessing the opportunities presented by digitalization to ensure a continued flow of resources for innovation and research.
To mitigate the effects of demographic change, businesses can address three factors: talent, time, and productivity. Immigration and improved education, a better work-life balance, and maximizing productivity potential through digitalization are essential to success.
IMPACTS OF DEMOGRAPHIC CHANGE
Foundations, government ministries and associations play a crucial role in advocating for their specific target groups. We assist them by conducting comprehensive analyses of demographic change across different contexts, offering evidence-based insights to support their positioning and strategic decision-making.
IMPACTS OF DEMOGRAPHIC CHANGE
Regions and municipalities are affected by demographic change in multiple ways. Infrastructure needs to adapt to the changing demands of the resident population. At the same time, strategies must be developed and implemented to provide attractive conditions for businesses and prevent or reverse negative development trends.
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