8 Drivers Of Change – Demographics

Ageing populations alongside shifting generational compositions and priorities of workforces contribute significantly to the skills shortages experienced by employers in many sectors, with no short-term relief in sight. In the longer-term, as younger generations replace Baby Boomers in the workplace, their values and priorities will require many employers to adapt and will drive seismic political changes in the years ahead.

Ageing population

The first instalment of the UK 2021 census showed that low fertility rates and increasing life expectancy continue to contribute to an ageing population. This is the case across all G7 countries. Although the population of England and Wales increased by over 3.5% (over 3.52 million people) over the ten-year period since the previous census in 2011, this was largely due to the growth of the over 50s by 3.29 million. The over 65s now comprise 18.6% of the population of England and Wales, up from 16.4% ten years ago.