The population is ageing, and although workers may be delaying retirement and re-entering the workforce, the volume of people from younger generations coming into the labour market is not making up for the rate of attrition of older workers.
The demand for employees with critical skills remains high, meaning that competition for key talent has been sustained throughout the economic downturn. Although labour market conditions have softened in recent months, the need to engage and retain key workers remains a vital challenge for organisations.