Older workforce a win for business and consumers
A toolkit for businesses employing older Australians has been launched by Treasurer Joe Hockey for seniors lobby group, National Seniors Australia, at a Bunnings store in Sydney.
The Age Management Toolkit, produced by National Seniors, is a practical manual that takes employers through the step by step process of retaining and recruiting older workers.
National Seniors chief executive, Michael O’Neill, says Australians are living longer, healthier, and are now often choosing to remain active in meaningful employment beyond traditional retirement age.
“Astute employers already know that older workers can bring vital experience and skills to their business, enhance their reputation and boost their bottom line,” Mr O’Neill says.
Bunnings Store operations director, Michael Schneider, says: “At Bunnings we very much recognise the importance of our older team members. Our whole team spans six generations and this provides fantastic learning and mentoring opportunities for everyone.
“Employing older workers is a deliberate strategy which helps us all benefit from the wisdom and character that life experience brings and this delivers a win for customers and a win for everyone in our team,” Mr Schneider says.
National Seniors Age Management Toolkit launch coincides with the release in coming weeks of the highly anticipated fourth Intergenerational Report. Previous Intergenerational Reports modelled the impact of demographic change on productivity and prompted government calls for increased workforce participation.
“With the capacity for older Australians to positively contribute to GDP, the Toolkit is an essential and very practical resource for our time,” Mr O’Neill says.
Australian Human Rights Commission research suggests that just a 5% increase in paid employment of people aged 55 plus will add $48 billion per annum to the economy.
Long term unemployment rates amongst the over 50s are consistently higher than other age groups. While gradually improving, workforce participation rates amongst Australians aged 55 years and over are still lower than in countries like New Zealand and Sweden.
The Age Management Toolkit was authored by Dr Ruth Williams of the National Seniors Productive Ageing Centre.
