X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Companies across the country are experiencing labor shortages for a variety of reasons. Find out how these staffing shortages can impact workers’ compensation and what businesses can do to help deal with them. (Credit: sirisakboakaew/Adobe Stock) Companies across the country are experiencing labor shortages for a variety of reasons. Find out how these staffing shortages can impact workers’ compensation and what businesses can do to help deal with them. (Credit: sirisakboakaew/Adobe Stock)

Like many other industries today, the workers’ compensation industry is constantly evolving. As the world continues to adapt and change during the ongoing COVID-19 pandemic, several of the workers’ compensation trends seen over the past two years will continue to play a role throughout 2022.

One notable trend in workers’ compensation is the changing workforce and population demographics contributing to the labor shortage that companies began experiencing in 2021. Baby Boomers have started retiring, and by 2050, the population of people 60 years and older will total 2 billion. Additionally, a record 4.5 million Americans left their jobs in November 2021, leading to a period that is now known as “The Great Resignation.”

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.