More than 40% of the active population will be over 50 years old in 2030. This is confirmed by the Adecco Foundation in an investigation about the new trends and challenges that companies face for the labor market of the future. In its report ‘The labor market of the next decade: are we prepared for an aging environment, eminently digitalized and more diverse than ever?’ Companies are urged to reflect on the elements around which the market will revolve in the coming years: diversity, the aging of the population, the rise of Artificial Intelligence or the inclusion of people with disabilities and women in vulnerable situation.
According to Francisco Mesonerogeneral director of the Adecco Foundation, the next 25 years “will be radically different from the previous ones” and companies must adapt quickly to a society that is experiencing changes at “dizzying” rates.
In relation to diversity, Adecco estimates that it will become a key factor in the labor market. This is due to phenomena such as globalization, international mobility or migratory processes, which have favored a more diverse social scenario that is transferred to the labor market. Through diversity, the foundation suggests, companies face the challenge of building heterogeneous corporate cultures that better integrate and understand the needs of each person.
Regarding the aging of the population, it is estimated that it will continue to advance in the coming years, to finally reach its peak in 2050, coinciding with the end of the life of the baby boom generation. Based on specific data, the current aging rate is 137% (137 people over 64 years of age for every 100 under 16). This value will rise progressively, according to the foundation’s estimates, until reaching 305% in 2050. In other words, in that year the population over 65 years of age will triple that of those under 16.
Companies now have the opportunity to capitalize on the value of older workerswho can provide experience and knowledge to achieve organizational objectives. In turn, consumer longevity is also taken into consideration, urging companies to focus on the needs and preferences of a population that is long-lived, but at the same time more active than ever.
Another challenge that companies face in relation to the aging of the population is to eradicate ageism in selection processes. In this way, the increase in the retirement age must be accompanied by a certain commitment from companies: to take veteran workers into consideration.
On the other hand, the organization focuses on the dizzying rise of artificial intelligence. Adecco assumes that AI has become an extremely useful tool in the work environment, driving an unprecedented revolution and altering the modus operandi of the companies. Through the use of this tool, the opportunity arises to reduce costs, improve efficiency and increase precision in decision making.
However, Adecco It also poses a risk inherent to the dizzying advance of AI: leaving no one behind. It is vital for companies, in this era of digitalization, that all their employees receive training in the newest technologies. This warning is raised to reduce the risk of a digital divide, with more senior employees being unable to take advantage of the tools at their disposal due to lack of training.
Lastly, the Adecco Foundation focuses on the transformation of society towards a more inclusive model, where gender equality and the inclusion of people with disabilities are priority objectives. Companies have the opportunity to take advantage of the commitment to women and people with disabilities, using them as an engine of innovation and competitiveness in the workforce.
Regarding the recent advances that have occurred in terms of inclusion, the technical evolution that companies have experienced in relation to their vision of people with disabilities stands out. There is greater knowledge of their realities, and therefore it is possible to develop strategies adapted to each person. This process favors the normalization of people with disabilities within the workforce, favoring their performance and integration into the world of work.
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