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Demographic projections for the next decades point to shrinking workforces in most OECD countries. In the EU member states, the working‐age population is expected to contract by 12% by 2030. In addition, the increasingly competitive global economic environment induces an accelerating pace of structural change. As a consequence, despite the high unemployment rates currently observed in many OECD countries, labour and skills shortages are anticipated to rise over the next two decades, challenging economic growth prospects. In this context, maintaining a high‐quality workforce represents a key strategic goal for both employment and economic growth.

Document Type: Review Article

Publication date: June 1, 2012

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