New report spotlight on the older workforce
A new economic report on Australian work patterns has found that employers should shift their focus from young to old to help bridge the skills gap and maintain productivity.
Research by Econtech states that older employees – especially women – will make up a much larger proportion of the workforce by 2012. And to improve productivity employers should be prepared to offer increased flexibility to older workers.
The figures showed that by 2012 the number of workers aged 55 and over will increase by 14% compared with just 5% for those aged between 25 and 54. By 2012 there will be around 250,000 more workers aged 55 and over in the workforce It is expected that older women will continue for longer in the workforce with the number of women 45 and over increasing by 12% and the number of men by half that.
Consulting firm Mercer’s head of retirement business, Tim Jenkins, said that “employers have to redefine the 21st century workplace and use their workers of 55 and over as the drivers of productivity. This is the age group that already have the skills and they are in a position to act as mentors and can help provide the best conditions for the company to continue to grow”.
Mr Jenkins said that employers needed to consider implementing conditions which were attractive to older workers such as flexibility in days of work and leave times, grandparent leave, education programs, reskilling, subsidised health insurance, and financial advice on eventually retiring at the optimum time.
