Retaining and employing older workers is becoming an increasingly smart solution for businesses in the attraction of skills and talent, say the organisers of an upcoming one-day forum in Tauranga.
Over the coming years there will not only be a decreased labour supply, but a sudden loss in skills and experience as increasing numbers of baby boomers reach retirement age, the Changing Face of the Workforce Forum organisers said.
"Although retirement-aged workers currently only make up 5 per cent of the workforce, they will comprise 13 per cent by 2036," said Adrienne von Tunzelmann, a national board member of Age Concern, which is co-hosting the forum with the Tauranga Chamber of Commerce and Priority One on September 21.
"One of the most common ways of dealing with skills shortages is to encourage existing older workers to stay on past retirement age. This means considering more flexible working arrangements, ensuring jobs are restructured and designed to suit older workers, developing leadership strategies and succession planning."
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Advertise with NZME.The forum will provide tools to support employers and employees in undertaking the transition that will be required as a result of the ageing demographic.
A recent global report from PwC economists on harnessing the power of older workers concluded that countries could add billions of dollars to their economy if they followed best practice in harnessing the potential of their older workers. Meanwhile, the New Zealand government's Workforce Ageing Survey 2014 found workers aged 50 and over were seen as valuable and hardworking by employers, and were regarded as more productive and better in a crisis.
"It's important to ensure that your organisation is one that is attractive to older workers, as skill shortages increase and there is more competition for experienced and talented people," said chamber operations manager Anne Pankhurst.
"More mature workers tend to require lower levels of training and less supervision, are often more reliable and loyal, and have a strong work ethic. They have also collected a lifetime of skills and experience and can provide value as mentors to younger people in an organisation."
While money is one reason people work longer, other reasons include job satisfaction, mental stimulation, the physical activity or a sense they are making a useful contribution, said Ms Pankhurst.
Despite the advantages of older workers and their increasing value in relation to future skill shortages, most organisations do not have a policy in place to reap the benefits of ageing workers, said Priority One projects manager Annie Hill. That included a lack of planning to specifically recruit and retain older people.
"We believe there is increasing understanding on what the issues will be for employers, so this is about finding solutions and thinking of the ageing population as a valuable resource for employers."
The Changing Face of the Workforce Forum
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Advertise with NZME.Speakers include:
* Professor Tim Bentley, AUT University
* Blair McCarthy, Office of Senior Citizens
* Jackie Carroll, Tranzliquid
* Gwynn Jennings, IBM
* Geoff Pearman, Partners in Change
