The changing world of work: Securing talent, shaping the future

The change is noticeable not only in technological advances, but also in the expectations of employees. While job security was the highest priority for previous generations, issues such as meaningful work, self-fulfillment, and leisure time are becoming more of a focus. Mobile working, which already plays an important role among Millennials and Generation Z, will likely be taken for granted and hardly worth mentioning for Generation Alpha. And despite these shifts, one aspect is even experiencing a revival: the importance of a good salary.

The changes described pose several challenges for companies:

• Addressing new generations: Workers of the younger generations expect flexible working models, meaningful activities and modern corporate cultures.
• Digitalization and AI skills: The introduction and expansion of digital technologies, especially AI, requires not only investments but also a rethinking of the skills and task profiles of employees.
• Filling management positions: With the wave of retirements of older managers, successors must bring with them not only technical competence but also soft skills such as emotional intelligence, adaptability, and resilience (keyword: antifragility).

To close the demographic gap and reduce the shortage of skilled workers, targeted measures are needed at several levels:

1. Making “do-it” jobs more attractive: Through better working conditions, fair remuneration and targeted further training, the so-called “do-it” professions (teachers, kindergarten teachers, nurses, carpenters, etc.) can be upgraded and both young talent and experienced workers can be attracted in the long term.
2. Expanding childcare: Better childcare infrastructure can enable more parents, especially women, to work full-time.
3. International talent search: By targeting and recruiting foreign talent, companies can leverage expertise from abroad. However, this requires cooperative approaches with other countries, the creation of incentives, and the reduction of bureaucratic hurdles. Austria should also increasingly utilize the potential of existing immigrants by recognizing qualifications and creating development opportunities.
4. Strengthening education: (School) education adapted to the current challenges of life with a focus on digital skills, including AI, is essential to prepare young people for the demands of tomorrow's working world.

The combination of digital and demographic change requires a fundamental rethinking of human resources strategies.
Successful companies will be those that respond flexibly to new requirements while simultaneously developing long-term solutions to secure their skilled labor needs. This requires excellent leaders who initiate and take responsibility for this change with an optimistic and innovative mindset.