Managing An Ageing Workforce: Challenges And Opportunities

MANAGING AN AGEING WORKFORCE: CHALLENGES AND OPPORTUNITIES










































Hamburg, 29.02.2012TABLE OF CONTENTS


1. Introduction…………………………………………………………………………3
2. Theoretical Frame…………..……………………………………………………….4
2.A. Diversity Management....……………………………………….....................4
2.B. WorkforceDiversity.........................................................................................4
2.C. Ageism.............................................................................................................6
3. Stereotypes, Myths and Truths about Older Workers................................................6
4. Recruiting OlderWorkers..........................................................................................9
4.A. Employer Branding...........................................................................................9
5. Retaining Older Workers.........................................................................................10
5.A. Training, Development and Promotion...........................................................10
5.B. Flexible WorkingPractices.............................................................................11
5.C. Job Restructure................................................................................................11
5.D. Adapting the Workplace..................................................................................12
5.E. Remuneration andRewards............................................................................12
5.F. Retirement Management...............................................................................13
6. Conclusion................................................................................................................14
7. References................................................................................................................151. Introduction
A low birthrate coupled with a longer life expectancy are driving the size of the population, and hence the workforce, down in many developed countries around the world. At the same time, that the number of new entrants to the labor market is fast declining, the largest age group, the baby boomers, is quickly approaching retirement. This ageing of the population has become afeature of the majority of the developed economies over the last two decades, carrying socio-economical implications for the distribution of work and incomes (OECD, 2002). In statistical terms, the changing age structure that leads to an ageing population is caused by an increased proportion of older people in comparison to the proportion of children (ABS, 2008a). According to research andevidence, this population trend has grown over the past decade. Therefore increasing the attention received by it in many sections of society.
These changes have important implications for employers and their approaches to employment. The human resource management (HRM) challenges related to attracting and retaining older workers have received the attention of researchers, policy-makers and managers(Ashworth, 2006; Naegele and Walker, 2006; Schramm, 2006). However, many employers have been slow to respond to these challenges (Arnone, 2006). Many organizations have neither a strategy in place for managing an ageing workforce nor a coherent range of provisions to respond to emerging issues (Macleod, et al., 2010).
Due to the situation mentioned above it is imperative that companies startdrawing from the older workers pool. In order to be able to draw from such pool, first a series of (HR)policies oriented towards aged workers have to be implemented within organizations. In order to achieve good practices in age management, policies do not necessarily have to be labeled ‘older worker’ policies - there may be general HR strategies that are of particular benefit to mature employees...