Talent shortages are headline news. Lorry/HGV drivers is a top alert but fruit pickers and meat workers also pop up from time to time. Some people want to blame Brexit and the 170,000 migrants that have returned home, they may be key contributors but the data from this research is astonishing. The disappearing act of some 586,000 workers who have chosen to be "economically inactive" is a root cause of some of the scarcities. The research shows that 364,000 of this group are not yet of pensionable age. Further research from the Institute for Employment Studies estimates that the total number of people no longer engaged with the world of work is 950,000.
The underlying reasons varies generation by generation. The young have stayed in education longer and the older people have been forced out of work and now think that they will find a suitable role through age or skills. Vast numbers of people have rethought their career priorities.
In many cases this is not the "great Resignation" but the "Great Retirement"!
The real challenge is to lure people back into the world of work and this is best done through insight and research to build personas of the various target groups and what their key motivators are and then deliver them tactical messaging in the right channels to attract them back into active employment.
About 586,000 people have become “economically inactive” and no longer want to work since Covid-19 hit in March 2020, an analysis by the Resolution Foundation research group shows. Of those, 364,000 are younger than pension age. The figures highlight a dramatic shift in the portion of those participating in the jobs market. The scale of the change far outstrips the estimated 170,000 migrants who have left Britain in the crisis and underscores shortage of skilled labor that’s helping drive up wages and prices.