The workforce crisis of 2030

I just watched The workforce crisis of 2030 by Rainer Strack from BCG - The Boston Consulting Group. A TED talk from 2014.

  • Labor shortage
  • Skill mismatch
  • Cultural challenge

The prediction is that basically in every one of the 15 largest economies generating about 75% of the world GDP will have labor shortage. In some only a few percentage, in others 20-30% of workforce will be missing.

In addition the shortage will be much bigger in high-skilled jobs while low skilled jobs might still have a worker surplus.

Robots and automation will just make this gap even bigger.

The solution might be migration and worker relocation. 60% of the 200,000 people asked were willing to relocate.

What are they looking for: Out of 26 items, "Attractive fixed salary" was only number 8.

Top 4 topics are about culture

  1. Appreciation for your work
  2. Good relationship with colleagues
  3. Good work-life balance
  4. Good relationship with superior

In a nutshell: people are looking for recognition at their job.

The four tasks ahead of each organization and each country:

  • How to forecast supply and demand in workforce.
  • How to attract people.
  • How to educate and upskill people.
  • How to retain great people.

Part of the predictions were about 2020, I would love to know if they came true and if they still think we are on track to the problems they predicted for 2030 or if that has changed?

So what does this mean to me, to us?

Assuming I can still work in 2030 and beyond it seems I don't have to worry much about employment, but I will need to be able to update my knowledge and skills to match what is in demand.

Education and knowledge is key to be employable.

Published on 2021-08-03 by Gabor Szabo