Did
you know that people aged 55 and over made up 36% of the working-age population
in 2016? I did not, however, baby boomers are leaving the labour force in huge
numbers, which, coupled with a decline in the birth rate in industrialized
countries, is leading to a decline in the working-age population. This will
have an impact on the economic growth and sustainability of public pension
schemes and the costs of public services, in particular.
Yet, older workers have a lot to contribute to business and society in terms of productivity and knowledge. There are also many physical, psychological and social benefits to push the retirement age to later in life.
But what can employers and governments do to keep aging workers employed? A systematic review of 41 studies conducted in the United Kingdom examined what motivates older workers to remain in employment.
Three main themes
emerged from the literature: the nature of work that aging workers prefer, the
culture and organizational values they seek, and the measures and job
adjustments that facilitate their retention.
Older workers usually
have similar expectations as younger workers. They want to be recognized,
respected and valued within their organization.
They want to have
autonomy, as well as stimulating and varied tasks. They expect their employers
to be fair by offering career development opportunities to all employees,
regardless of age.
The review also revealed that older workers appreciate using their skills and competencies to act as mentors or team leaders. This helps to concretely recognize their experience, enhance their sense of being useful, foster better intergenerational relationships, and break down social isolation.
The review also revealed that older workers appreciate using their skills and competencies to act as mentors or team leaders. This helps to concretely recognize their experience, enhance their sense of being useful, foster better intergenerational relationships, and break down social isolation.
The review also
highlighted that older workers face different aging-related issues such as
physical and psychological limitations and illnesses. Employers who allow
part-time work or fewer full-time hours, and who offer psychological support,
as well as ergonomic adjustments to work equipment, help to keep older adults
working longer.
The review shows that
older female workers who are facing sexual harassment or social isolation at work
are more likely to choose early retirement. Inclusive human resource policies
and adequate management to maintain a positive work environment are paramount
to support employees’ health and well-being.
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