The biggest workforce challenge of the 21st century – the age wave. The convergence of the boomers reaching 65, increased longevity and a declining number of people entering the labour market.
As an employer you will want
- engaged and productive staff
- to retain your best people
- to be an employer of choice
However you will need to adapt, why?
- people over 65 are staying on at work in greater numbers
- the number entering work is declining
- you will need older people to combat skill shortages
- you will need their experience, skills and knowledge to remain competitive
Age friendly employers are changing the way they
- think about their people
- organise work and jobs
- engage and motivate their people
The Facts
- 10% of NZ’s workforce will be over 65 by 2051, up from 4% in 2010
- 16% of over 65 year olds in 2010 were in employment, this will rise to 26% by 2030
- 240,000 people over 65 will still be in work in 20 years time
- 118,000 new workers will enter the workforce from 2011 to 2016. This is less than half as many as from 2001 to 2006. The numbers are expected to halve again to 56,000 from 2026-31.
“Over the next 40 years we are simply not going to have enough new workers to replace the baby boomers as they eventually exit the workforce. This means we need to focus on developing a highly skilled, high performing age-inclusive workforce.”
The Business of Ageing. Ministry of Social Development, NZ Government, 2011
