Interesting to see the latest Mercer's Workforce data, which paints a bleak picture for employers in the coming years. Clearly the health & social care sector will be hit by acute demand and supply challenges - and major employers are already highlighting a reduction in available labour, as the pipeline of overseas workers declines. As Mercer's put it themselves, the employers that will thrive best will be those differentiate themselves through attractive reward strategies, strong employer brands and innovative talent attraction strategies. Couldn't put it better myself!!
The UK workforce will increase by just 820,000 (2.4%) by 2025 – a significant drop from recent trends that have seen the workforce grow by 9% in the 10 years up to 2015 - according to Mercer’s Workforce Monitor. It predicts that the overall population will increase at a faster rate than the workforce for the first time in half a century, signalling long-term changes to the economy. An estimated 710,000 extra workers will be needed in the health and social care sector, based on there being an anticipated further two million over-65s in the UK by 2025, the report stated. Assuming this demand is met through the forecasted workforce growth, only 110,000 additional workers will be available to fill the demand of all other industries.