1、04The workforce of the future will be more diverse10The be-all and end-all is successful teambuilding15How to to attract young talent and retain older workers?19 September 2024Allianz ResearchFostering age inclusion at work to make companies demography-proofAllianz Research2 The EUs domestic working

2、-age population is set to decline.Delaying retirement could have a huge impact on making companies demography proof.Including the age group 65 to 69 into the potential labor force could close around 75%of the gap and dampen the total decline of the working-age population in the EU 27 by around 10pps

3、 from a total-13.4%to-3.3%.On average,the EU 27 will have to cope with an annual decline of-0.8%until 2040.Furthermore,a positive net migration balance could lead to an increase in the working-age population in many EU member countries with the exception of most Eastern European member countries,whi

4、ch are sender countries.Companies will need to double down on initiatives and policies to foster intergenerational inclusion.Indeed,even after the Baby Boomer generation retires,the workforce population is set to be older than today on average:In 2040,14%of the population in the EU 27 available on t

5、he labor market will be aged between 60 and 69,compared to 9%today.The share of migrant workers is also set to increase further,not only because of efforts to attract skilled workers from abroad but also because of the retirement of todays higher age groups,which have smaller shares of foreign worke

6、rs.To successfully manage multigenerational and multicultural teams,trust as well as mutual respect and understanding are crucial.This requires understanding the differing needs of generations and cultures.This holds especially true for leadership and communication styles.Companies will have to cope