This decade will shape how the workplace and workforce of 2030 will look and operate.

AUSTIN, TX—This decade marks one of seismic demographic change. Baby Boomers will leave the workforce and Generation X will march ever closer to retirement age, to be replaced by Generation Y/Millennials and Generation Z as the dominant generations in the workplace.

This has major implications for real estate occupiers, investors and policy-makers around the world, according to a new research report from Cushman & Wakefield, Demographic Shifts: The World in 2030. The report analyzes the seismic shifts in international workforces as 693 million Baby Boomers reach retirement age and 1.3 billion members of Gen Z enter the labor force during the next 10 years.

"Generation Z is actually the largest cohort in the world with just under two billion people–26% of the global population," Kevin Thorpe, global chief economist and head of research with Cushman & Wakefield, tells GlobeSt.com. "Even as the largest generation in human history, it accounts for a considerably smaller proportion of the total population because people are living so much longer. It is certainly possible that we will look back and view Generation Z in a similar light as Generation X, squeezed between two more talked about generations."