Over the next 10 years we face a significant risk, the loss of the knowledge and expertise of older workers built up over the past decades. This applies not just to the core public sector but also to areas such as health, education and the social services.
The facts
- Baby boomers will remain in the workforce past 65. By 2051 10% of the workforce will be over 65 up from 4% in 2010.
- Baby boomers are staying on in employment. In 2010 16% of people over 65 remained in employment, this will rise to 26% by 2030
- Baby boomers are a fast growing consumer market. Consumer spending by older people could rise from $11 billion p.a to $25 billion by 2031 and over $45 billion by 2051
- Baby boomers will be healthier, better educated and have more spending power than any other generation reaching 65 in history
The opportunity
- Become an age friendly employer of choice. Retain and engage your current staff. Attract people to your organisation. You will need older workers due to the declining birthrate
- Value your older workers experience, skills and knowledge and understand how they want to contribute and participate in work
- Become an age friendly government organisation. The New Zealand public will expect it.
Check out
Act now
- Contact Partners in Change to discuss the Staying On program
- Subscribe to the Staying On Newsletter in the right hand sidebar –>
