Japanese companies face unprecedented challenges in attracting and retaining young talent amid a chronic labor shortage caused by the country's aging population. In an attempt to overcome these challenges, major companies such as Nippon Life are adopting innovative strategies, including offering competitive benefits and attractive incentives aimed at enhancing their appeal to young employees and ensuring their sustainability in the highly competitive job market.
With a declining birthrate, Japan's working-age population is expected to decline rapidly from 2027, according to a study by independent research institute RecruitWorks. By 2040, the country could face a shortage of more than 11 million workers. The number of workers aged 20 to 24 has fallen 36 percent over the past three decades to 4.7 million in 2023, according to data from Japan’s Ministry of Internal Affairs and Communications.
Source (Al-Arabiya.net Website, Edited)
