Australia's ageing population and changing attitudes in young people are key issues that need to be addressed by companies wishing to overcome skills shortages.
Recent research revealed the double impact of this shift in demographics.
Mark McCrindle of McCrindle Research says the report, Bridging the Gap, shows that, "In these times of fast change, every industry and organisation is just one generation away from extinction.
"Unless we can understand and remain relevant to the new generation of workers we will edge towards irrelevancy," he said.
Like most developed countries, Australia has fewer young people in the workforce relative to the population. This is particularly obvious in the 15-19 traditional apprentice age group.
The economy continues to grow indicating the demand for labour is greater than supply. Key findings from the research include:
Australia's population is:
- Older: In 1976 the media age of an Australian was 28. Today it is 37. In a decade it will be 40. The average age of employees has also been rising and is now 39.
- Smaller: Australia's working age population is in decline as a proportion of the total population. Currently 65% of the population is 15-64 years ut by 2050 it will decline to 57%.
The generation gap is evident from the new generation of workers:
- Casual: Over 30% of the total workforce is employed on a casual basis. For GenerationY this figureis 40%.
- Global: There are 20,000 fewer men than women in their 30s in Australian which is attributed to the globalisation of labour drawing men overseas.
- Lifstylers: The length of time workers spend per employer has been in freefall for decased. In 1960 employees averaged 15 years per employer. Today it is 4 years.
