‘Age Wave’ is rolling in fast
EMPLOYERS are warned they need good attraction and retention programs to offset the looming skills shortage when mature-age staff retire.
Human resource consultancy SPIRIT.3H. consultant Tony Gibson says employers need to stop putting their heads in the sand and address the changing needs of older workers.
‘‘ There has been a declining birthrate for several decades and baby boomers are now reaching 65, living longer and in many cases staying on in work,’’ Gibson says.
‘‘ We therefore face possibly one of the biggest workforce challenges of the 21st century, which we are calling the ‘ Age Wave’.
‘‘ The phenomenon of an ageing population and declining birthrates is global and unprecedented in human history.’’
Gibson says employers need to look at their workforce to see how they can enhance productivity rather than look outside the company.
Ensuring staff stay with the company, even in part-time roles, rather than retire or work for other employers is critical.
Flexible working conditions and transition plans to help workers move from full-time work to retirement over time are attractive to many older workers, Gibson says.
He says employers need to rethink their leadership and organisational culture.
‘‘ The Age Wave is a reality requiring age-friendly and productive workplaces,’’ he says.