Mercer says it’s time to act


It’s one year since Mercer published its first Workforce Monitor, which was launched to examine the UK population and workforce pre- and post-Brexit. Back in February 2017, the report flagged that to avoid the looming workforce crisis, organisations must invest in automation, focus on sectors of society under-represented in the workforce and increase productivity in order to prevent a future crisis. It seems they’re not deviating too far from their original recommendations.

Their key findings show that the workforce crisis is playing out as predicted. In short, the number of jobs and vacancies is increasing…. But the number of people looking for work is falling.

And when it comes to fixing these employment gaps, we’re apparently not going about it in the right way. By 2025 Mercer predicts that there will be fewer workers under 30; fewer UK-born workers; a higher reliance on foreign-born workers and 1m more workers over 50. Their advice is to target all age groups across both attraction and development. Retention is also going to be key.

London was also flagged as being of concern, as it's most exposed to an ageing workforce, thanks to it having a younger working population and a heavier reliance on non UK-born workers than the rest of the country. As London’s population continues to grow (and assuming migration limits), the city will need to support a much larger population with a relatively smaller workforce, leading to severe workforce shortages.

And finally, the ageing population that is living longer will place increased strain on an already struggling health service. Already there is not enough workforce supply to meet this demand.

By no means is any of this ideal. And as one of the world’s largest and leading HR consulting firms, Mercer knows what it’s talking about. It’s no longer time to ‘wait and see’ how this plays out. It’s time to take action. And quick.

 

Wednesday, 11 April 2018

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Mercer says it’s time to act
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