Digitalization, virtualization, demographic development, and changing values are just a few of the trends that are leading to changes in the world of work and causing a reinterpretation and reassessment of the previous understanding of labor (Blank, Logeay, Türk, Wöss, & Zwiener, 2016, p. 283). In the context of rapid and contin uous change, it can be spoken of a VUCA world, i.e., volatility, uncertainty, complexity, and ambiguity (Codreanu, 2016, pp. 31–34). This master’s thesis aims to expand existing knowledge by analyzing the Austrian Labor Market, the demographic change, and the generational dynamics for the possibility of managing the labor force from the perspective of strategic human resource management (SHRM) with employee experience (EX) as a new tool. To achieve this goal, this thesis relies on a literature overview and an empirical study, comprising twelve qualitative, semi-structured interviews, to gain new knowledge to this topic field. The findings of the literature overview suggest that the decreasing birth rate in Austria and most other European countries means that a general decline in the number of potential young employees is to be expected (Troger, 2019, pp. 6–7). Statistic Austria forecasts that the demographic developments mean that a large proportion of the older generation of workers will shortly leave the labor market. In contrast, relatively few young workers are entering the labor market. This means, that the number of people under 20 in the workforce will minimally increase in the coming years. As seen in the long term, the proportion of people in this age group will decline concerning the total population. Most people will be 55 or older (Statistik Austria, 2022b). According to Grubb (2017, pp. 3–11), the preferences and needs of the different cohorts are also in a constant state of transformation because most of the representatives of each generation have their expectations and motivations, experiences, and goals. The reasons for this can be social and historical developments, which have a significant influence on the character and world views of individuals (Parry & Urwin, 2011, p. 83). Consequently, Grubb (2017, pp. 3–11) states that each cohort has different preferences, characteristics, and needs, and these can vary from employee to employee. Each generation shares some common experiences that can lead to a similar framework of human characteristics. While the values, interests, and needs of workers may differ from generation to generation, it can be helpful to know the key characteristics of each generation, as this can make it easier to understand and manage specific generations (Grubb, 2017, p. 102). To summarize the key findings of the literature overview, strategic human resources work in particular plays a decisive role in the future, as it can have a significant influence on the economic success of companies (Codreanu, 2016, p. 35; Schneck, 2015, p. 65; Zaugg, 2009, p. 199). Regarding the lower work engagement of the youngest generations and the general demographic development in particular, Krings (2018, pp. 32–33) claims that companies will face the challenge of maintaining critical personnel needs in the future. In most areas of the working world, Krings (2018, pp. 32–33) argues that organizations will increasingly be forced to promote lifelong learning, the development of employee soft skills like communication training or personality development, as well as further progression of the corporate culture to be able to offer the possibility for a sense of community to develop across all generations. For managers and human resource staffs in particular, it can be a big challenge to employ three to four generations with different approaches and attitudes such as work-life balance, work ethic, and long-term career goals to work together on one goal and avoid conflicts (Grubb, 2017, pp. 3–4). A rather new concept that consistently emerged during the literature research is the concept of EX. EX is defined by Morgan (2017, p. 155) as "the holistic perception of the employee's relationship with their employer, derived from all encounters at touchpoints along the employee's Journey" and provides a solution to current issues such as the war for talent and managing generations within the organization (Morgan, 2017, pp. 155–157). Bersin et al. (2017, p. 58) stated that creating an excellent EX can provide benefits for companies and for employees. In addition, it can improve the work environment in the company and help the employer to be perceived as an attractive employer and subsequently recruit new talent and retain existing ones, continues Morgan (2017, pp. 151–160). In order to remain competitive in times of a shortage of skilled workers, certain structural changes in the company are also required. Both the literature overview of EX and the empirical study show that many young talents want a higher degree of autonomy and responsibility. This need can be met by flat corporate structures with decentralized decision-making and low power distances. If it is desired by employees, they need to be given more responsibility as early as possible and be enabled to work independently. The experts believe it is far more important to maintain competitiveness in the long term by restructuring the organization, and through ongoing organizational development, in which constant process optimization takes place, potential could be better exploited and utilized in order to be able to adapt to changes in the best possible way. Author Christina Klinglmüller, BSc, MBA Abweichender Titel laut Übersetzung der Verfasserin/des Verfassers Masterarbeit Universität Linz 2022