Brexit and the consequent expected fall in net immigration, coupled with an ageing population, are set to cause a UK workforce crisis, according to data from Mercer’s Workforce Monitor. The firm predicts that the workforce will increase by just 820,000, or 2.4%, by 2025, a significant reduction in recent trends that saw 9% growth in the ten years to 2015. For the first time in half a century the overall population will increase at a faster rate than the workforce.
Gary Simmons, partner at Mercer, said:
‘Companies basing their recruitment strategy on a steady stream of young school leavers and graduates are in for a shock. With the under 30s group set to shrink considerably companies need to look beyond their usual sources for new skills and talent.’