People in transport: fast tracking & retaining talent

In Australian society we are only just beginning to understand the far-reaching effects of the changing population demographics. In this chart 12 we can see that Australia has one of the world’s most rapidly aging populations. This year, 12 percent of the Australian population is already over 65 – that’s 2.3 million. In Europe, the US and Japan it is already at 15 percent. We will move from a situation where there are 4 working age people to every 65 year old to just 2 for every 65 year old. The effect of this on age distribution in the workforce is simply staggering. By 2020 there will be only 12,000 entrants to Australia’s annual workforce. And more specifically there will be a national shortage of ¼ million traditional apprentices in the next 10 years. Over the next 5 years, 170,000 trades people are expected to leave industry. While these facts are compelling at a future economy-wide level, the individual manager may feel that they are too abstract and esoteric to warrant any change in his or her human resource practices. We need to consider the economy as nothing more or less than the sum total of all businesses and households. The challenges facing the Australian economy and businesses in the future is significant.

Media Info

  • Pagination: 10p.
  • Monograph Title: AusRAIL PLUS 2004, planning for tomorrow's railway industry, 10-11 November 2004, Melbourne, Victoria, Australia

Subject/Index Terms

Filing Info

  • Accession Number: 01516975
  • Record Type: Publication
  • Source Agency: ARRB
  • Files: ATRI
  • Created Date: Mar 4 2014 8:01PM