A key challenge with immigration is to remove the various barriers that keep educated and skilled immigrants from contributing to their full potential. But making the best of the aging process is not only a question of fighting labour shortages, it is also a question of finding ways to do more with fewer workers.
Investing in capital is one way to do it: with more machinery and equipment, workers can produce more. Strategic investments can lead to innovation and technological progress that make machines and processes more efficient. Better organization can also play an important role. Firms can use the pool of workers more effectively, and workers and managers can improve their performance through education and training.