With the population ageing, the number of working-age people entering the workforce is rising rapidly, with the population of working people projected to grow by a third over the next 30 years.
It is not only women who are entering the workplace, but also men, with one in five men entering work by the end of this decade, according to the Organisation for Economic Co-operation and Development (OECD).
At the same time, there is an increased number of people aged 65 or over, with many of those in their 60s and 70s having stopped working.
The OECD report states that “it is now common for workers aged 65 years and over to report a decline in their employment rates over the past 15 years, as they retire.”
The report also highlights the changing demographics of work, with more people working part-time and with limited hours, as well as a more fragmented work force, with younger workers being at greater risk of injury and illness.
With this change in work, there are also some challenges for the Australian workforce, which is currently undergoing an ageing boom.
“In the next 20 years, the proportion of Australians aged 65 and over will be more than double, to 10.1 per cent, according the OECD.
This represents a change from a peak of 6.7 per cent in 2010 and is a result of the ageing baby boom generation, which will likely outlive the workforce of all Australians, with about two-thirds of Australians over 65 years old.
In addition, there will be a substantial increase in the number who will not be in work for up to 12 months at a time, according with the Office of Work and Income.
For the first time in recent history, there could be a shortage of full-time workers by 2020, with over 50 per cent of Australians without a full-year contract, according data from the Australian Bureau of Statistics (ABS).
ABS research shows that more than half of people with jobs in the public and private sectors are either on contract or on a pay deal, which means they do not receive the full salary they should.
However, the majority of Australians are still employed, with wages rising, with total employment now at 7.6 million people.
According to the ABS, more than two-fifths of workers aged 25-54 are employed, while a similar proportion are in the aged pension.
As the age of the workforce increases, there may be some concerns about the impact of an ageing population on the Australian economy, with experts warning that the cost of living may increase, with inflation potentially pushing up consumer prices.
Many businesses have been working to diversify their workforce in the face of this, with Australia’s largest manufacturing industry, the pharmaceutical industry, already diversifying its workforce, with pharmaceutical firms like Pfizer and AstraZeneca focusing on providing jobs to younger, more creative workers.
Australian firms also are starting to invest in research and development, with research and innovation investments at $1.3 trillion, up $150 billion from 2016, according a report from PricewaterhouseCoopers.
These investments will be critical in ensuring the survival of Australia’s research and technology sector, with a number of major pharmaceutical companies investing heavily in new technologies to make it easier for researchers to access a broader base of talent.
A number of key industries, such as the mining and manufacturing industries, are also starting to diversise their workforce, as a result, with mining companies investing in new facilities and building a new facility in the Australian Capital Territory to allow them to employ more people.
A number are also investing in research centres to support new and emerging technologies.
Another trend in Australia’s workforce is the increased use of digital technologies, which allow workers to collaborate and collaborate in more ways.
The government has announced that the government will be investing $100 million into the Digital Workforce Network, which aims to encourage innovation in the work force.
Technology can also have a positive impact on health, with digital technologies being used to provide healthcare information to more people, including those who cannot afford to pay for it.
Despite the increased focus on digital technologies and the growing number of workers in Australia, some people may not be comfortable in using technology in the workplace.
What you need to know about the Government’s online workplace policy, how to report workplace bullying, how your employer can help, and how to contact the workplace abuse helpline, is available to download in PDF format here.