Ageing Workforce Strategy Attraction and Retention
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AGEING WORKFORCE STRATEGY
ATTRACTION AND RETENTION
Allison Denny-Collins
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Some statistics
Australiacurrently experiences workforce growth of about
170,000 each year.
Workforce growth for the entire decade of 2020s will only be
about 125,000.
Between 2005 and 2020 the number of people aged 55 and over
will increase by more than 50 per cent.
By 2050, the number people aged 55 and over will have
increased by over 200 per cent.
by 2050, the number of people aged 18 to 54 is projected to
grow by just over 7 per cent.
Australian Bureau of Statistics
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Even more statistics (sorry…)
The number of older people working beyond the traditional
retirement age has jumped by almost half in three years.
Asurvey last November found that 22% of people aged 65 to 69
are still working, compared with 9% in 1989.
Unlikeyounger workers, most mature age workers are working
part-time, and their participation rates are rising fast, though at
lower levels.
Today, there are approximately six working individuals in
Australia for every person over 65 years(6:1); during the next
twenty years, it is estimated that ratio will be reduced to 3:1
Australian Bureau of Statistics
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Skill supply vs. demand
Confronting the Talent Crunch 2008 – A Manpower White Paper
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Why should you employ them?
They are already skilled.
An organisation can maintain corporate memory.
They are loyal, reliable and have a good work ethic.
They stay 2.4 times longer than a younger person and therefore
there is lower turnover.
There is a wider pool of applicants.
They add diversity to a workplace.
They are highly productive.
National Strategy for an Ageing Australia, Employment for Mature Age Workers Issues Paper, November 1999.
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Try this model
The New Agenda for an Older Workforce – A Manpower White Paper
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Strategies for your organisation
Tohave a detailed understanding employee demographics,
and of what key positions or job categories may be at risk in
the near future.
Identify
potential opportunities for attracting and retaining
mature workers using part-time or alternative work
arrangements.
Investigate
a strategy for retraining mature workers as part of
the learning and development strategy.
Developstrategies to preserve critical knowledge before it
walks out the door.
Review how effectively age-related issues are addressed
within the organisations overall diversity strategy.
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Strategies for your organisation
Attraction and Retention Strategies
Flexible working options
Training and development
Being a mentor to younger staff
Being mentored by younger staff on new technology
Use flexible remuneration and conditions, i.e. additional leave for
caring purposes.
Being on a contact list for short term employment and projects.
Being part of an alumni for mentoring and networking opportunities.
Knowledge Transfer
Identify employees in critical roles who are about to retire. Find a
replacement approximately three months before the planned retirement
date. Allow this time for knowledge transfer and mentoring.
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References
Australian Bureau of Statistics
Defence Personnel Environment Scan 2025
Addressingthe challenges of an ageing workforce - A human capital
perspective for rms operating in Asia Paci c; 2004, IBM
TheNew Agenda for an Older Workforce – A Manpower White Paper,
2007, Manpower Inc
Australia’s
Ageing Workforce, Dr Karen Hall, Chief Policy Adviser,
Health Chamber of Commerce and Industry
Confronting
the Talent Crunch 2008 – A Manpower White Paper,
2008, Manpower Inc