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Ageing Workforce Strategy Attraction and Retention
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Ageing Workforce Strategy Attraction and Retention


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Presentation for my class on the ageing workforce and attraction and retention strategies.

Presentation for my class on the ageing workforce and attraction and retention strategies.

Published in: Career, Technology

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  • 2. + 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
  • 3. + Some more statistics
  • 4. + 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
  • 5. + Skill supply vs. demand Confronting the Talent Crunch 2008 – A Manpower White Paper
  • 6. + 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.  
  • 7. + Try this model The New Agenda for an Older Workforce – A Manpower White Paper 
  • 8. + 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.
  • 9. + 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.
  • 10. + 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
  • 11. +   Allison Denny-Collins Skype allidc Twitter allidc Blog